Chinese Entrepreneurs Are Leaving China

Forbes ^ | June 5, 2011 | Gordon G. Chang

[Clintonfatigued]

China’s rich, primarily driven by a sense of insecurity, are taking money out of their country. Many are actually preparing to move elsewhere.

According to a new study, almost 60% of China’s “high net worth individuals,” defined as those possessing more than 10 million yuan in investable assets, are either considering emigration through investment programs or are completing the emigration process. The survey, conducted by China Merchants Bank and Bain & Co., also reports that 27% of those with more than 100 million yuan in investable assets have already emigrated and 47% of them are thinking about leaving the Motherland.

The stunning results correspond to reports that the U.S. Treasury unit monitoring illegal money flows has, since the beginning of last summer, detected a surge in hidden cash transfers out of China.

[Clintonfatigued]

Wow, China is experiencing this too.

[Sun]

I was surprised that are allowed to leave a communist country.

[SpaceBar]

They needn’t bother coming to the US. Our great socialist “cultural revolution” and all that implies is still a few years off. I predict by Obama’s third or forth term things will get dicey.

[Uncle Miltie]

I propose we offer citizenship in the U.S. for $10,000,000 this year.

Then, $9,000,0000 next year.

Etc. That should mop up capital from around the world to apply ONLY to our deficit, and bring the brightest EMPLOYERS to our shores.

[TigerLikesRooster]

They all sense that the next regime will pursue anti-corruption drive as a way to firm up Communists' hold on power. It is also true that many of so-called high net worth individuals made their money in crooked deals. Business and party officials colludes together to make money from real estate development projects.

They have reasons to worry. The escape of corrupt money has been going on for some time on the smaller scale. It appears that it is turning into an exodus.

[GonzoGOP]

China’s rich, primarily driven by a sense of insecurity, are taking money out of their country. Many are actually preparing to move elsewhere.

Where? Capitalism is on the ropes almost everywhere. We have Obama so the US is no safe haven. In Europe the only question is if it will collapse under Green Party mismanagement or be overrun by the Caliphate. Russia is run by the mob. South America is going hard core communist (Note Peru election today). So if you are one of the Yacht People where do you go? Honest question because when Illinois implodes I may want to go there too.

[Cringing Negativism Network]

“The stunning results correspond to reports that the U.S. Treasury unit monitoring illegal money flows has, since the beginning of last summer, detected a surge in hidden cash transfers out of China.”

-

Getting rich in China means being connected with the communist government. Simple as that.

During this time of “private outflow of cash”, the central government has been “divesting” investments in America.

I call BS.

The money is simply being camoflaged and sent back. In a manner it is harder to take action against when the trade war starts.

[SpaceBar]

Capitalism is actually alive and well in Hong Kong (admittedly a special economic zone of China), Singapore, and India to name a few places.

[REDWOOD99]

Galt gathering the minds?

[GonzoGOP]

For Chinese I imagine Singapore would be a good choice. I did a quick lookup and saw that Singapore is consistently rated one of the least corrupt countries in the world by Transparency International. And that Chinese is one of the official languages. So it would be a good fit if you were looking for a place to hide yourself and your money.

Hong Kong is a great city, but HK would be vulnerable if China were to get into serious economic trouble. They might go after HK like Obama is looking at going after our 401K programs. Hong Kong is dependent on PRC's promise for their Independence. And the promise of a dictator tends to be less reliable as that dictator feels less secure.

[muawiyah]

Plus there's a whopping big drought in China's North. The rich know that these droughts always bring down the existing regime and institute another one that may be worse.

Time to leave.

[max americana]

My sister works in Hong Kong for a large multi-national bank and I head there twice a year before I stop to the Philippines. Heck, you can SMELL money there, it’s unbelievable.

Yes, they are pro-capitalists there. What I would love to see are economic zones in America like they have in the old US military bases converted into such zones like Subic in the Philippines where it’s a free for all on American goods. It blows we have a kenyan kommie klown for a president who wants me to be poor.

[SunkenCiv]

They’re probably better off moving to Illinois. ;’)

[Cringing Negativism Network]

I’d like to see America making and exporting, and protecting our markets.

Like they do.

[BJungNan]

Why wouldnt they be allowed to leave. The problem is not leaving china, it is in getting a visa for a destination country. If you were being serious, you need to take a trip to china and see the place. You are wildly misinformed.

[tinamina]

OH Canada, here they come. Vancouver in particular. All their relatives are already there, settled from when Hong Kong was taken over.