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Chinese Entrepreneurs Are Leaving China


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http://blogs.forbes.com/gordonchang/2011/06/05/chinese-entrepreneurs-are-leaving-china/

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.

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I think they are just hedging their bets by having dual passports.

It's very difficult through legit means for private individuals to invest large amount money on foreign ventures. So of course there's going to be illicit fund transfers.

As long as there's an army of docile peasant laborers willing to work 12 hours days for about $100 a month the Chinese economy will hum along fine.

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chinese entrepreneurs have ALWAYS left china. Malaysia (amongst many other countries to lesser degrees) is fairly rich primarily off of the entrepreneurship of chinese migrants.

the fact is that chinese enrereneurs today are far LESS likely to migrate than they were 5, 10, 15, 20, 40 100 years ago... and successful expat chinese entrepreneurs are much more keen to return now than they ever used to be...

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Actually I read an article where all the wealthy Chinese are buying mega properties in Vancouver. The article states that most of the high-value property sales have been bought by the Chinese using cash or going around through a 3rd party.

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teh phenominal chinese growth of the last 2 decades has also been incredibly poorly distributed through the population. In one generation, CHina has gone from nearly the most "egalitarian" society on earth (enforced that way, everybody was poor, but they were all poor together) to one of the least egalitarian. There is a whole brand new class of nouveau riche on a scale that has never been seen before when considered in the context that there really wasn't any "old money" those families had been "re-educated" through the 70s.

The nouveau riche are going on a huge buying spreee.. EVERYWHERE. Coastal China has a huge housing bubble, and so does Vancouver... for exactly the same reason.

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