Posted on 03/05/2023 5:55:44 AM PST by zeestephen
Billionaire investor Mark Mobius told FOX Business he cannot take his money out of China due to the country's capital controls, cautioning investors to be "very, very careful" about investing in an economy under a tight government grip..."I have an account with HSBC in Shanghai. I can't take my money out"..."They say: give us all the records from 20 years of how you made this money...This is crazy."
(Excerpt) Read more at msn.com ...
He began investing in China in the late 1970s after pro-business leader Deng Xiaoping became Chairman of the Communist Party.
Unlike the U.S., China wants to protect the value of its currency.
And this is one of the main reasons why all the dollar will collapse people are wrong. What alternative do you have? Chinese Yuan and the Euro are the only other currencies large enough to use as an alternative. No one trusts the Yuan and Euro is a basket case. I suppose we could always go back to the gold standard but I wouldn’t hold my breath on that. No way would I stick $1 into China right now.
Has nothing to do with that, it's that they want complete control.
The banks are teetering on bankruptcy. That is why they are making it difficult to cash out.
was the biggest Emerging Market sucker in history.
Fixed it!!
You are correct that the dollar is the strongest currency by far.
That means it collapses last.
This is probably good for us old timers—but young folks are gonna feel the pain...
Do they track $600 transactions?
The poor guy is gonna have to learn how to survive on only five billion in wealth instead of twenty billion.
Let us get out the violins....
;-)
I’m sure there are a couple of Chinese investors in the US, that we could do the same to.
If he invested that money in American companies here in America, hiring American workers, all growing the American economy, and increasing competitiveness, innovation and America’s global leadership, he wouldn’t be having these issues.
Tough Shiite Mobius.
Should have kept your money here.
Guess Mobius will now be pushing for retaliation like all the rest of the War Pigs.
I think its safe to say China tracks every transaction.
we do too. My point is that it’s hard for me to criticize China for doing what my own government does. I’ll go after them on the environment though.
I was pretty gloom and doom about the dollar until about 4-5 years ago when someone made this exact point very well. I’m still not happy about the state of the dollar and our deficit spending, but I’m much less gloom and doom about it
Play with fire and you better expect to get burned.
China is going the right thing on the environment.
They know “climate change” is a pathetic hoax of western propaganda—so they are producing as much energy as they can as efficiently as they can.
Air pollution is a real issue and a real cost—for China—and it may be debatable whether the benefits exceed the costs.
However, the West has had stupid energy policy for years based on the Unicorns of “climate change”.
China tracks every transaction.
Including when you change your underwear.
“It’s your money! You just have to keep it here.”
You are correct. But it is important to note that CO2 isn’t air pollution, it is plant food.
Can we take money out of the US?
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