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(CNBC)   China's wealth, along with its wealthy, are fleeing the country   (cnbc.com) divider line 31
    More: Obvious, offshore investment, Solar and Heliospheric Observatory  
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5191 clicks; posted to Main » on 26 Nov 2013 at 12:11 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



31 Comments   (+0 »)
   
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2013-11-26 08:42:25 AM  

qzprod.files.wordpress.com


We're talking BIG money...

 
2013-11-26 12:15:36 PM  
So China eases its totalitarian government enough to stimulate a partially capitalist economy and those who get rich flee the country; remembering that the government might, at a whim, take whatever it thinks is for the good of the party.  I certainly hope this isn't a surprise to anyone.
 
2013-11-26 12:17:39 PM  
The "largest wealth transfer" is the continuing transfer of American wealth to Chinese millionaires.
 
2013-11-26 12:20:06 PM  
Koch brothers wonder why you wouldn't want to live in a country with no environmental protections?
 
2013-11-26 12:20:31 PM  
Given that corruption gets the death penalty over there, I'm not surprised. It's an environment where you can get rich, but not a place where you want to stay rich. Once you've gotten your money, you gotta get the hell out of there.
 
2013-11-26 12:21:00 PM  
Color me surprised that people worth millions don't want to live in a location where the pollution can be a hundred of times above "dangerous" on a bad day.

We should dissolve the EPA, maybe we could make some more millionaires who will want to move somewhere else too!
 
2013-11-26 12:22:36 PM  
I read that as their millionaires were "fleecing the country", so I wasn't sure what the big deal was since that's what our millionaires are doing...
 
2013-11-26 12:22:52 PM  
So the very people that have gotten rich from making their air downright toxic are now fleeing from the conditions they caused. Let that be a lesson to us when certain people want to gut our clean air regulations.
 
2013-11-26 12:24:04 PM  
So China also has the problem of people thinking their fair share is in someone else's wallet?
 
2013-11-26 12:24:26 PM  
Where does a Chinese millionaire go?

Wherever he wants.  Apparently...
 
2013-11-26 12:25:09 PM  
Maybe they are tired of living upside-down...
 
2013-11-26 12:27:13 PM  

Prophet of Loss: The "largest wealth transfer" is the continuing transfer of American wealth to Chinese millionaires.


That doesn't even compare the to continuing transfer of American wealth to American billionaires.
 
2013-11-26 12:31:22 PM  
so do they just switch places with the american wealthy people who keep threatening to flee, or is there a special island where they are all going?
 
2013-11-26 12:32:57 PM  

Mr. Right: So China eases its totalitarian government enough to stimulate a partially capitalist economy and those who get rich flee the country; remembering that the government might, at a whim, take whatever it thinks is for the good of the party.  I certainly hope this isn't a surprise to anyone.


Thats pretty much why they love buying property, even property in china. They know how easy it is for the gov't to empty a bank account, so physical assets offer a bit more safety from easy pickings.
 
2013-11-26 12:37:55 PM  
You hear this about every country's wealthy. I think we should set up a new country, bill it as a tax free uber-wealthy Utopia to lure all these greedy farks in. Then we spring our secret trap, confiscate their assets, and put them all to work as customer service reps for cable companies.
 
2013-11-26 12:40:50 PM  
Are we talking about Americans(corporations are people) or the Chinese  here
 
2013-11-26 12:54:39 PM  
Everyone, welcome China to the club of countries with rich people siphoning away their national wealth to overseas tax havens.
 
2013-11-26 12:58:48 PM  

TheNotoriousBLG: So the very people that have gotten rich from making their air downright toxic are now fleeing from the conditions they caused. Let that be a lesson to us when certain people want to gut our clean air regulations.


Pretty much came here to say this.
 
2013-11-26 01:05:16 PM  

Mr. Right: So China eases its totalitarian government enough to stimulate a partially capitalist economy and those who get rich flee the country; remembering that the government might, at a whim, take whatever it thinks is for the good of the party.  I certainly hope this isn't a surprise to anyone.


Well, our wealthy are certainly good at fearing unknowns and imaginables.
 
2013-11-26 01:07:22 PM  

LemSkroob: Mr. Right: So China eases its totalitarian government enough to stimulate a partially capitalist economy and those who get rich flee the country; remembering that the government might, at a whim, take whatever it thinks is for the good of the party.  I certainly hope this isn't a surprise to anyone.

Thats pretty much why they love buying property, even property in china. They know how easy it is for the gov't to empty a bank account, so physical assets offer a bit more safety from easy pickings.


Wrong. In China, government owns all the land. You are only licensed to lease the land for 50 or 75 years. So the underlying problem will come up down the road in 20 years, since the private property "purchase" was allowed about 20 years ago.

Many chinese are coming to America buying up properties, and partially driven up the price in place like California. Even the Chinese real estate developer is coming to America, since they have better trust in American system.
 
2013-11-26 01:09:24 PM  

Prophet of Loss: The "largest wealth transfer" is the continuing transfer of American wealth to Chinese millionaires.


Actually not even close. The greatest wealth transfer is from American taxpayer to the middle east. Every single palace, mansion, megamalls, man made island, road, airports, trains,  gold plated toilet, exotic cars that you see in places like Riyadh, Abu Dhabi, Dubai, Kuwait, Jordan etc mostly came from America.
 
2013-11-26 01:41:56 PM  

mutterfark: You hear this about every country's wealthy. I think we should set up a new country, bill it as a tax free uber-wealthy Utopia to lure all these greedy farks in. Then we spring our secret trap, confiscate their assets, and put them all to work as customer service reps for cable companies.


The conversion to Netflix would then be complete. It's already almost impossible to talk to the current customer service reps who hate their jobs. This will drive the rest away.

(i actually have good results because i am nice to them)
 
2013-11-26 01:44:58 PM  

SuperNinjaToad: Prophet of Loss: The "largest wealth transfer" is the continuing transfer of American wealth to Chinese millionaires.

Actually not even close. The greatest wealth transfer is from American taxpayer to the middle east. Every single palace, mansion, megamalls, man made island, road, airports, trains,  gold plated toilet, exotic cars that you see in places like Riyadh, Abu Dhabi, Dubai, Kuwait, Jordan etc mostly came from America.



That is due to our proclivity for gas-guzzling SUVs. You act as if it's some theft-by-taxation scheme.

Reduce your footprint.
 
2013-11-26 02:03:27 PM  
Chinasmack has some stories on this and I have to say the Chinese are damn witty.  I read a post from one reading something like "If you unpatriotic coonts want to be traitorous American Running Dogs then fark off and get out of our country!!!  And take me with you when you go!!!"
 
2013-11-26 04:05:13 PM  

SuperNinjaToad: Prophet of Loss: The "largest wealth transfer" is the continuing transfer of American wealth to Chinese millionaires.

Actually not even close. The greatest wealth transfer is from American taxpayer to the middle east. Every single palace, mansion, megamalls, man made island, road, airports, trains,  gold plated toilet, exotic cars that you see in places like Riyadh, Abu Dhabi, Dubai, Kuwait, Jordan etc mostly came from America.


Even though oil may be fungible, we mostly get oil from Canada, Mexico, and Venezuela.
 
2013-11-26 04:46:02 PM  
"is" fleeing.

"along with its wealthy" is an interrupting clause, so the verb "to be" agrees with the subject, "wealth."

Yes, I'm fun at parties.
 
2013-11-26 04:48:23 PM  
China's wealth, along with its wealthy, are fleeing the country

Do do do do doo de do do do... *ding*

Gibbon?
Um... what is Vancouver?
*ding ding ding ding*
 
2013-11-26 07:09:00 PM  
Isn't communism GREAT?

..... and they're flooding California as government operatives.

THEY

MUST

BE

STOPPED
 
2013-11-26 07:45:43 PM  
A buddy at work is originally from Hong Kong and he was saying just this morning that he expected an awful lot of repatriated Chinese/Canadians to re-expatriate themselves.  A big part of it was to protect assets since, apparently, Hong Kong residents were expected to have their real-estate holdings or something like that in China.
 
2013-11-27 04:17:45 PM  

mutterfark: You hear this about every country's wealthy. I think we should set up a new country, bill it as a tax free uber-wealthy Utopia to lure all these greedy farks in. Then we spring our secret trap, confiscate their assets, and put them all to work as customer service reps for cable companies.


Bioshock?
 
2013-11-27 11:50:15 PM  
China's wealth are fleeing, subs? You looked at that headline and thought "This will troll anyone who can speak English!", didn't you?
 
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