China’s super rich are bailing out fast over fears Communist leaders are tanking the economy

The National Sentinel ^ | 3/6/19 | Jon Dougherty

[SleeperCatcher]

As POTUS Donald Trump prepares to meet with Chinese President Xi Jinping to discuss a deal to end the current trade war between the world’s two biggest economies, the American political commentariat has panned it as another opportunity for China to ‘pull one over’ on this ‘hapless, bumbling president.’

Citing Trump’s ‘inability’ to come to terms with North Korean leader Kim Jong-un over denuclearization, they have left Americans who still listen to them with the impression that now it’s China’s turn to embarrass him and the United States — and at the president’s own resort at Mar-a-Lago.

But the reality of the current state of the Chinese economy has been hidden from most Americans. Many of the country’s super-rich are leaving; sensing that the Communist party leadership is badly mishandling economic affairs, they see Beijing more focused on solidifying control over the country than shoring up the economy, which would include a deal to end U.S. tariffs.

[OttawaFreeper]

I wonder if they have a better sense of something like that than wealthy liberal Californians do?

[ClearCase_guy]

China is a house of cards. Very fragile.

My guess is that Trump and Kim and working together to get CIA out of NK (done) and China out of NK (in progress). I think the recent “walk away” from NK may have been strategic. Trump wants North Korea to be built up and successful. The other players want NK to be a puppet. Kim doesn’t want to be a puppet. He wants a legacy of being the man who made NK truly glorious.

Deal with China now. Then circle back and seal with deal with Kim.

[Deaf Smith]

How would it be possible for known billionaires to remove wealth from a communist country?

[steve86]

It doesn’t seem very likely, does it?

[socalgop]

They are buying real estate in Vancouver, Seattle, SF, LA, and NYC thru shell corporations designed to launder their profits and evade PRC capital controls.

[fishtank]

I smell opportunity.

[Reily]

Ethnically I think it would even subdivide further then this map shows.

[Mr. Jeeves]

...they see Beijing more focused on solidifying control over the country than shoring up the economy, which would include a deal to end U.S. tariffs.

They were right on the verge of becoming the dominant nation on Earth, and now the old guard Communists are completely blowing it. Thank God they are dumber than we are. :)

[BwanaNdege]

How would it be possible for known billionaires to remove wealth from a communist country?

They just purchase the instruction manual from that Nigerian prince.

Only $19.95!

[you must pay by wire transfer from your checking account, along with a written, notorized authorization for the withdrawal(s)]

[Zhang Fei]

[“China is facing a lot of internal and external challenges now,” said Fred Hu, founder of the investment firm Primavera Capital Group and former head of Goldman Sachs’s Greater China business. “We need to realize that all of our achievements in the past 40 years were the results of opening up and economic reform, not because of any unique China development model.”]

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China is chockful of talent. Everywhere emigre Chinese settle, they usually do pretty well. Based on recorded history, China has had a several thousand year head start that varies depending on who’s doing the counting. We can thank China’s long line of arrogant retards for its relative backwardness. China’s current head retard is outdoing the morons before him in retardedness. All I can say is that I hope retards like him continuing ruling the country. Because we are relying on leadership incompetence on their part to hold the country back from attaining their traditionally expansive territorial ambitions, with invasions mounted for the usual reasons - personal glory and historical immortality.

[SoCal Pubbie]

By bribing the middle to upper level functionaries tasked with overseeing foreign investments, I would think.

[Zhang Fei]

[How would it be possible for known billionaires to remove wealth from a communist country?]

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There have been no actual communist countries in the world. Someone always has to make the decisions. The person who does so effectively owns the assets. In China, individuals actually do own their assets. And just like in the US, assets can be seized arbitrarily. Except the Chinese RICO is far more stringent in the sense that the gubmint can seize your assets for much more random reasons. Bribe a bureaucrat who was trying to put you out of business? Your assets can seized to the last penny. Evade taxes? The tax authorities can fine you 10x the amount you failed to pony up. Why? Because they can.

China is ruled by vicious, ruthless and arrogant aristocrats established by the founding of a new dynasty. They were never genuine “communists” then - while the people starved, Party stalwarts ate like kings. And they are definitely not “communists” today, unless you define “communism” as peasants handing over their entire harvests to the king for the king’s personal consumption. It was eyewash then, and it’s eyewash today.

[PapaBear3625]

How would it be possible for known billionaires to remove wealth from a communist country?

They got to be billionaires, for the most part, by having companies that make stuff for export. Sell your stuff to a distributor (who you control) for $X. He, in turn, sells it for $X+Y, and deposits the $Y in a Western bank for you.

Lots of other ways. Just be sure to get yourself and your family out before you get caught.

[Zhang Fei]

[How would it be possible for known billionaires to remove wealth from a communist country?]

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A lot of the “corruption” cases are about wealthy people moving their money out. With the exception of Belt and Road and high tech acquisitions (and not even all of the high tech purchases), many of the corporate Chinese investments we keep hearing about aren’t actually “Chinese” - they’re investments by the controlling shareholders of these corporations rather than the government. And yes - that’s how they get their money out. Assets in countries that will give the Chinese government the finger if it tries to seize them (from the Chinese individuals who own them) are favored, which is why the US is getting so much Chinese money - a good chunk of it is entrepreneurs getting the heck out of dodge before the gangsters who rule the country get their mitts on their hard-earned money.

[Reily]

CIA wishes it was in NK!

[Bodega]

“They were right on the verge of becoming the dominant nation on Earth, and now the old guard Communists are completely blowing it. Thank God they are dumber than we are”

How do we know if they are “dumber than we are”? I am not so sure of that. I think when we are a minor part of the Caliphate in 2030 the same will be said about us..and we will be compared to the EU.

How are the Muslims doing in Turkestan? Well? Maybe they are the cause of the hullabaloo in Western China. China and Muslims breed so prolifically the difference in result may be like Turkey and the Muslims pouring into the EU.

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[rdcbn]

There are plenty of Chinese business owners who would love to set up operations in the United States and Trump is facilitating this

[Teacher317]

Ethnically I think it would even subdivide further then this map shows.

I disagree, in the exact opposite direction. I believe that China is 91% Han Chinese... ad Taiwan is 95% Han.

BTW: On mainland China, they tend to treat non-Han Chinese pretty poorly... but not as bad as blacks or Japanese.

(But American whites are somehow the only racists on earth)

[Reily]

I don’t see the Manchurians represented. The Han definitely didn’t think they were Han particularly when they replaced the Ming . https://en.wikipedia.org/wiki/Manchu_people
Also you can subdivide the western area up more the Turkic peoples there break down a little more.

https://en.wikipedia.org/wiki/List_of_ethnic_groups_in_China