Posted on 07/14/2015 8:04:24 PM PDT by nickcarraway
More millionaires have left China over the past 14 years than any other country, according to a new study reporting where the wealthy choose to live.
Asia Unhedged views this gold-plated exodus from China as another country’s gain.
The report from New World Wealth, a company which provides information on the global wealth sector, lists the top eight countries that saw the most outflows and inflows of millionaires between 2000 and 2014.
Out of the top 10 nations with the most millionaires, China came in fifth, with 608,500 millionaires in 2014. The US topped the list with 4.1 million.
However, China topped the list of most high net worth individuals changing their domicile, or permanent home, with 91,000. Indians came in second, with 61,000 out of 226,800 millionaires, leaving their native country. Indian high net worth individuals tended to move to the United Arab Emirates, the UK, the US and Australia.
One reason countries would want to be more welcoming to the Chinese is they buy property and other big ticket purchases. They also make other investments that benefit the local economies.
(Excerpt) Read more at atimes.com ...
Yep, we’ll tax them until they become democrats....
Can I ask a stupid question?
How can there be all these Chinese millionaires, when China is communist, and theoretically there is no accumulation of profit or private wealth????
Is Chairman Mao turning in his grave??? What about the dictatorship of the proletariat??? These people just want to check out of the system altogether???
Perhaps 20 years ago, the Wall Street Journal ran an editorial on "If Hitler had brokered a peace deal in 1944, and if the Third Reich lasted 70 years or so, what would a mature Fascist State look like?"
The WSJ decided Nazi Germany would have a lot in common with China -- powerful central government, a lot of ostensible private ownership, a strong economy heavily manipulated by government regulations, a large upper class, and a rather oppressive society for the masses.
You know: a lot like the US.
I'm very curious, as many home-owners can be considered millionaires based on their net worth. I'm in that boat, as I paid off my home decades ago and live debt free. I don't consider myself rich, just a regular fool paying taxes so others can snatch welfare benefits and live like kings.
“
Perhaps 20 years ago, the Wall Street Journal ran an editorial on “If Hitler had brokered a peace deal in 1944, and if the Third Reich lasted 70 years or so, what would a mature Fascist State look like?”
The WSJ decided Nazi Germany would have a lot in common with China — powerful central government, a lot of ostensible private ownership, a strong economy heavily manipulated by government regulations, a large upper class, and a rather oppressive society for the masses.”
Exactly.
They are national socialist and still communist Marxist in philosophy.
Any freepers visit Poland?
I just got back a few months ago. Warsaw’s skyline is filled with construction cranes. On the outskirts of town there is an entire Chinese community and free trade zone. There are wealthy Chinese people everywhere looking to invest.
Because communism and capitalism are not mutually exclusive. And the chinese excel at the amoral variety of capitalism.
“Loot ~n~ Scoot” in play there?
The Maoists, of which there are still many in the Chinese Communist Party, are licking their chops, I suspect we may see Cultural Revolution II in China before too long.
I just got back from there, I loved every minute of it. Warsaw is booming, and Krakow is just awesome. But the part of Poland I fell in love with is the part in the Carpathian/Tatra region, near Zakopane, I think that area is going to boom as Europeans want to find cheaper alternatives to Switzerland.
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