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Why China’s rich are leaving
FORTUNE ^ | 06/06/2014 | by Scott Cendrowski

Posted on 06/06/2014 7:16:08 AM PDT by SeekAndFind

Pollution, tainted food and education are causing many of the country’s wealthy to flee, survey finds.

Earlier this year, the best company at surveying the rich in China announced that more than 60% of the people it surveyed had already immigrated to another country, or were considering doing so.

The question for the Hurun Report, which publishes an annual China rich list, was why? Was pollution driving people abroad, weariness over China’s political crackdowns, or something else entirely?

It turns out the questions also nagged Rupert Hoogewerf, founder of Hurun. At the time, his best guess was that pollution and the desire to park some assets abroad were driving rich Chinese to the United States, Canada, and Australia—the top three destinations for those leaving China.

But to find out for sure, he conducted a follow-up survey that is being released today, and Fortune got exclusive early access. Hurun teamed with Visas Consulting Group to ask 141 wealthy Chinese questions about emigration and where they’re moving their money. The researchers discovered that three factors drove emigration from China, with each factor accounting for 20% of the responses:

(Excerpt) Read more at fortune.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS: china; exodus; rich; wealth

1 posted on 06/06/2014 7:16:08 AM PDT by SeekAndFind
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To: SeekAndFind
TOP DESTINATIONS FOR RICH CHINESE:


2 posted on 06/06/2014 7:16:45 AM PDT by SeekAndFind
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To: SeekAndFind

Because they can?


3 posted on 06/06/2014 7:18:45 AM PDT by heartwood
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To: SeekAndFind

The grass is always greener.


4 posted on 06/06/2014 7:19:30 AM PDT by dfwgator
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To: SeekAndFind

Chinese taking a page from Mexicans (flooding the southern US) and the Islamanazis (Sharia to Detroitistan)... conquer by bloodless invasion.


5 posted on 06/06/2014 7:20:46 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: C210N

RE: Chinese taking a page from Mexicans (flooding the southern US)

One difference, the former have money.


6 posted on 06/06/2014 7:21:20 AM PDT by SeekAndFind
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To: SeekAndFind

Apparently these rich Chinese are not aware of rich Americans fleeing the USA (going Galt).


7 posted on 06/06/2014 7:22:26 AM PDT by shove_it (long ago Orwell and Rand warned us of Obama's America)
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To: SeekAndFind
Because China is one of the few places in the world where you can become a billionaire but still get a bullet behind the ear for offending the wrong government official. Although Harry Reid does have some fantasies about a pistol and the Koch brothers.
8 posted on 06/06/2014 7:25:11 AM PDT by KarlInOhio (Republican amnesty supporters don't care whether their own homes are called mansions or haciendas.)
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To: shove_it

I think “going Galt” is a big problem.

Americans seem to be the only conservatives in the entire world, who believe that by pulling investment from their very own country, this helps anyone in the entire world, except for America’s biggest challengers.

BTW I’ve read Ayn Rand, several times. I completely disagree with her on this however.

America needs to bring back jobs. Now.


9 posted on 06/06/2014 7:26:11 AM PDT by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: SeekAndFind

Because they have joint ownership with Iran of Michigan ?


10 posted on 06/06/2014 7:30:46 AM PDT by knarf (I say things that are true .. I have no proof .. but they're true.)
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To: SeekAndFind
Maybe most surprising, two-thirds of those emigrating, or considering doing so, are also considering giving up their Chinese nationality.

Which indicates emigrating LEGALLY. Besides wealth, another difference from those South of the Border who are streaming in here.

11 posted on 06/06/2014 7:35:36 AM PDT by Oatka (This is America. Assimilate or evaporate.)
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To: SeekAndFind

The Chinese have money, a work ethic, and a commitment to education and family. And they’re smart.


12 posted on 06/06/2014 7:36:04 AM PDT by sphinx
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To: SeekAndFind

“...this year, the best company at surveying the rich in China announced that more than 60% of the people it surveyed had already immigrated to another country, or were considering doing so.”

Ok, it’s the rich IN iChina, but they have already left China?

What doesn’t make sense?

Answer: nothing.

They never leave China, they spread empire. ChiComs the most of them (Party Members are the wealthiest).

Just cause Chinese elites go to nicer places and will gladly partake of the Perqs of US or Canadian citizenship, doesn’t mean they are immigrants as we used to know the term.

Doesn’t mean they aren’t descended from the Yellow Emperor or loyal to the Motherland.


13 posted on 06/06/2014 7:41:58 AM PDT by ifinnegan
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To: C210N
"conquer by bloodless invasion."

Yes! Study history - it has been a VERY popular method since time immemorial.

14 posted on 06/06/2014 7:42:18 AM PDT by I am Richard Brandon
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To: Cringing Negativism Network
I think “going Galt” is a big problem.

I think the real problem is the 0bamanation that causes the producers to "go Galt".

15 posted on 06/06/2014 7:44:12 AM PDT by shove_it (long ago Orwell and Rand warned us of Obama's America)
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To: Cringing Negativism Network

“this helps anyone in the entire world, except for America’s biggest challengers.”

It helps their personal wallet and that is all some people care about. They think money will buy them freedom. This is what we are up against.

To many people on our side worship the super wealthy and the feelings are not returned.


16 posted on 06/06/2014 7:45:35 AM PDT by crusher2013
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To: shove_it

The problem is, companies have been leaving America since long before Obama because president.

Bush sent quite a large amount of American companies overseas.

Both parties have been selling out America.


17 posted on 06/06/2014 7:46:04 AM PDT by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: SeekAndFind

That’s easy.

It’s because China sucks.


18 posted on 06/06/2014 7:48:01 AM PDT by WayneS (Don't blame me, I voted for Kodos.)
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To: SeekAndFind

They’re fleeing because they know the history of Chinese “reforms.” When things turn sour, and they will, guess who gets scapegoated? They’re bailing while they can.


19 posted on 06/06/2014 7:51:09 AM PDT by RegulatorCountry
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To: SeekAndFind

Many leave because they got at least a part of their wealth through corruption and fraud.


20 posted on 06/06/2014 8:00:28 AM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Cringing Negativism Network

Jobs are starting to increase but not manufacturing jobs which will never return because of technology advances and cheap labor in the third world. It’s the Communization of our government that causes the wealthy to go Galt, not loss of jobs.


21 posted on 06/06/2014 8:06:37 AM PDT by shove_it (long ago Orwell and Rand warned us of Obama's America)
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To: SeekAndFind

Cause once we run out of money to go shopping at Walmart the peasants are gonna be stringing up Princelings from lampposts.


22 posted on 06/06/2014 8:16:12 AM PDT by Buckeye McFrog
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To: SeekAndFind

China is the crony-capitalist center of the world. You do not get rich there without sucking-up to, bribing, cajoling the omnipresent government and its officials.

Smart people know that it can change at any time - for the wealthy, their property rights are not secure.

(BTW - I see the same thing developing in the USA)


23 posted on 06/06/2014 8:17:10 AM PDT by PGR88
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To: sphinx
The Chinese have money, a work ethic, and a commitment to education and family. And they’re smart.

Bingo. I have found much to like and admire about the Chinese people I've known. They work very hard. They really value education and knowledge. And they are family-oriented.

That being said the ChiCom government scares the crap out of me.


24 posted on 06/06/2014 8:18:02 AM PDT by Buckeye McFrog
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To: Cringing Negativism Network

Actually, I agree. Full speed forward. Until it collapses, and then LET IT BURN.

I’m thinking the pResident will keep applying bandaids, but we’re approaching the “arterial bleed” level. The next 5 years or so are going to purely suck. . .


25 posted on 06/06/2014 9:03:06 AM PDT by Salgak (http://catalogoftehburningstoopid.blogspot.com 100% all-natural snark !)
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To: SeekAndFind

Funny how with the exception of Japan, most of those destinations are within the anglosphere. I’d guess that most of those heading to the all-encompassing term ‘Europe’ are in fact heading for Britain...


26 posted on 06/06/2014 9:04:20 AM PDT by sinsofsolarempirefan
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To: SeekAndFind

Says volumes about the changes in China over the last 30-40 years. The old ChiComs would not have allowed them to leave! Of course, I’m sure there were a lot fewer rich in China then...


27 posted on 06/06/2014 9:34:28 AM PDT by JimRed (Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
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To: C210N
Chinese taking a page from Mexicans (flooding the southern US) and the Islamanazis (Sharia to Detroitistan)... conquer by bloodless invasion.

Rich Chinese guy immigrates here with his family. What will he do to make money? He will open up an import-export business to bring even more stuff from China (he has tons of contacts) and kill US industry and workers more

28 posted on 06/06/2014 9:45:18 AM PDT by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: Cringing Negativism Network

Century Arms blames White House for layoffs

http://thegunwriter.blogs.heraldtribune.com/16909/century-intl-arms-blames-white-house-for-layoffs/

These rules are skewing the market. Ping me when you get the chance and we can talk about the importance of division of labor and relative/absolute advantage. Have a good night, FRiend.


29 posted on 06/06/2014 7:51:26 PM PDT by 1010RD (First, Do No Harm)
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