[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.

[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.

[Vigilanteman]

You'd be surprised at all the creative ways available.

Socialist rulers can't help taking economies. It is what they do.

Who is going to buy our T-Bills when they do?