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China to see biggest millionaire exodus in 2024 as many head to U.S. (asia.nikkei.com)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 24 points 4 months ago (5 children)

The article doesn’t mention it, but it’s also difficult to bring their money with them due to strict transfer limits. China is shedding its parasite class, and the leeches are migrating to their natural environment.

[–] [email protected] 6 points 4 months ago (3 children)

What exactly is prompting the emigration though?

I don't believe this:

Uncertainty over China's economic trajectory and geopolitical tensions are top of mind for many Chinese millionaires

[–] [email protected] 11 points 4 months ago

Well, you just need to read between the lines there.

uncertainty over China's economic trajectory

Read: uncertainty over ability to continue exploiting labors using your accumulated surplus

geopolitical tensions...

Read: closing window of opportunities to freely move your accumulated surplus elsewhere

This is just like those immigrated nobles running from liberal revolutions in the past.

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