Top of Chinese wealthy's wish list? To leave China

Top of Chinese wealthy's wish list? To leave China

news.yahoo.com

BEIJING (AP) — Chinese millionaire Su builds skyscrapers in Beijing and is one of the people powering China's economy on its path to becoming the world's biggest.

He sits at the top of a country — economy booming, influence spreading, military swelling — widely expected to dominate the 21st century.

Yet the property developer shares something surprising with many newly rich in China: he's looking forward to the day he can leave.

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I have been keeping up with Stratfor projections with China for the next ten years, they project that the PRC will collapse by 2020, and I am working on a project of my own that imagines what would happen to Chinese businesses and billionaires in the event of collapse.

This story confirms many of my feelings on the subject. The wealthy of China want to get out and they want to get to the US, with their businesses too.

In the project I have been working on, it imagines that in the event of the collapse, the ultrawealthy of China would relocate their families and businesses in the US. The dollar would have lost so much of its value at this point, that US manufacturing levels return to pre 1970s levels, much of it fueled by Chinese billionaires and companies.

The US, even now, offers the ultrawealthy of China luxuries and liberties they cannot get in their homeland. They realize the PRC is a leviathan that will only fall from within and it would be easier to get away from the dragon than try to slay it.

They know the unrest and upheaval is coming and have already begun investing and making preparations to get out when "it" hits the fan.

"If there is political unrest or suddenly things change in China — because it's a big country, something could go wrong — they already have a passport to go overseas. It's an additional safety net."

Among the 20,000 Chinese with at least 100 million yuan ($15 million) in individual investment assets, 27 percent have already emigrated and 47 percent are considering it, according to a report by China Merchants Bank and U.S. consultants Bain & Co. published in April.

We should welcome them with open arms. Ni Hao!

news.yahoo.com
(visit the link for the full news article)

reply to post by MikeboydUS


Thanks for the thread op. I have to say it makes me laugh that they want to come to The US. Not because they want to come here but rather with all the hate and bashing going on against The US from the world around us. The Chinese have such a closed media system to the rest of the world and a story like this just shows that maybe "We Ain't All That Bad?"
S/F

I believe that the ultrawealthy in China have backup plans and this seems to be a backup plan.The places they are emigrating to are Australia ,Canada,New Zealand.Part of my family has already relocated from USA to Australia and Australia is a great place to stay.

USA is being looted left,right and center and the middle class is leaving in droves.

reply to post by CherubBaby


That is very true.

We are not all that bad. These Chinese millionaires and billionaires want their children to be raised in the US. They are quoted in the article as saying the US has good schools and medical care.

I know some of the detractors will say but our public schools...

We have great private schools and some of the best private universities on earth.

The United States is the most popular destination for Chinese emigrants, with rich Chinese praising its education and healthcare systems.

They praise what??!?!?!
Although I suppose for millionaire property developers it might be true.

Originally posted by alfa1
They praise what??!?!?!
Although I suppose for millionaire property developers it might be true.

Exactly! I am sure the US rich are not complaining about the future outlook of the US either

Very interesting article and thread, thanks OP and others.

I wonder...I share the belief that China is riding for a fall of some kind, I'm a big Stratfor fan in general, and I it is important to acknowlege China is in a bubble, but I am not sure the country's decline will be as dramatic as you might think. However the flight of Chinese elites is a very interesting phenomenon to contemplate and it bears careful watching. Another interesting point, and I'm not the first to bring this up by any means, but think of all the debt the US owes China, then think of China agreeing to trade that for hard assets like property, then imagine a boom in the US fueled by Chinese real-estate and perhaps infrastructural investment. The prospect of the US hawking itself off to the Chinese is more than distatesful, it's horrifying...yet it is something I could see happening. Or something I could see somebody trying to make happen, anyway.

Do any of us know any of their true motives?
Are we so naive we think they got rich by not sharing a bed with the Maoistt elite?
I spy wiyh my little eye.
Chinese love all things Chinese, they do not love the west...they want to subdue the west.
We are at war, it just hasn't been declared openly.

Hmm i'm pretty sure the reason china has this "economic" boom, is mainly due to the TPTB, i read something where puppet reagan signed a deal that ushered the way for chinese manufacturing.
I'll try to find the corroboration to support that, i've read it somewhere.

relocated from USA to Australia and Australia is a great place to stay.
Guess that is subjective, but you can't really say, australia is a great place without actually living there.

Originally posted by Dr Expired
Do any of us know any of their true motives?
Are we so naive we think they got rich by not sharing a bed with the Maoistt elite?
I spy wiyh my little eye.
Chinese love all things Chinese, they do not love the west...they want to subdue the west.
We are at war, it just hasn't been declared openly.

You bet they are and they will win.

I was told SARS was a bioweapon specifically targeting ethnic Chinese. If they discovered a bioweapon targeting a specific gene, they can also develop a bioweapon that targets those lacking that gene. Meaning it will wipe out everyone who is not ethnic Chinese. When they perfect that weapon it will be released in the US, probably by first infecting non-Chinese Americans visting China for business purposes. Americans will be dropping like flies and Chinese will come and take over. Incidentally it will be a sweet revenge for the native Americans, since they are genetically from the same stock as the Chinese and won't be affected by the bioweapon

reply to post by RadeonGFXRHumanGTXisAlien


My family feels so that Australia is a great place.

Also ,Australia has more freedom than USA.So does Russia,but then citizenship laws are troublesome.
Anyways,I plan to invest in agricultural land in Russia.Pretty cheap and corporatism does not exist.

reply to post by Observor


Yes Iam sure the Maoists will liberate the Native Indians, going by their treatment of the Tibetans.
But seriously the Libya thing is all about Chinese dabbling.

Ask any millionaire what they would do when they make their multi-millions? Why, buy another home of course! There are tons of exotic locations Chinese rich (even wealthy from other nations) want to move to, it is part of the privilege of being rich. Chinese want to leave but they don't want to leave forever, they know China is their home and they have business there.

I do business between America and China and know many Chinese business owners with homes outside of CHina, they would never leave forever, it makes no sense.

again ,I will repeat ,the wealthy never keep their eggs in a single basket.

reply to post by Dr Expired


libya is about west destabilizing and overthrowing govts to steal oil.

Originally posted by Dr Expired
reply to post by Observor

 

Yes Iam sure the Maoists will liberate the Native Indians, going by their treatment of the Tibetans.

Who said anything about "liberating"? Anyway, Maoism just a phase and is a thing of the past in even China. You can call it collectivism if you like and yes, Chinese were always collectivists pre-Mao as well as post-Mao. So were the native Americans, collectivists.

But seriously the Libya thing is all about Chinese dabbling.

How did Libya get into this thread?

Can't say that I blame them. Kind of difficult to do business in a economy dictated by a totalitarian regime. Plus, everyone has to be a party member to get anywhere in China. If a person is not a member they are locked out. I say pack their stuff and come on over, and only if they leave their loyalties in China. This is just what the doctor ordered. Lets put out the welcome mat for any Chinese entrepreneur wishing to reside in the US.

Although, if these wealthy and learned individuals leave China who will lead their countrymen? These are the new leaders of China. How can they move forward if these people move to the US or elsewhere? I guess things are not as rosy as the media and economists have been saying about China? We shall say if anything substantial comes from this latest development?

reply to post by Jakes51


Not really, it is easier (in some ways to America) to do business there, and China has 1.3 billion people, millions of millionaires, not everybody is leaving and barely any of them actually leave China forever, I'm betting the only people leaving China are the ones that have been banished.

Trust me guys, I know this, the millionaires are only buying second (or more) homes outside of China for status and options for their family.