Rich Chinese consider leaving China
While Western businessmen are heading East to make their fortunes, 60 per cent of those with fortunes of more than $10 million (£6 million), had either considered "investment immigration" or already completed the process.
Investment immigration allows rich individuals to effectively buy their residence in another country, in the hope that their money will trickle into the local economy. In the UK, anyone depositing £1 million in a bank account is permitted to stay.
A decade ago, the idea of having such sums to spare would have been beyond the imagination of most Chinese, but this year the number of Chinese boasting disposable assets of more than £1 million is expected to reach 585,000, nearly doubled the total in 2008.
Why do these business people want to leave? They know the political setup in China, and they fear that they could face confiscations some day. I guess these business people haven't bought into the idea from China's Obamas, Thom Hartmanns and Michael Moores that they have to stay put and "give back" what they've earned through their wealth-building efforts.
0 comments:
Post a Comment