The super rich aren’t really leaving China. No matter where they go, China will be there, and their wealth creating assets will still be in China. All watched over by the CCP. Indeed, the CCP encourages its super rich to go West because China can’t influence the world if it stays at home.
“Extravagant Chinese émigrés” in Singapore are not China’s super rich. And Singapore isn’t upset by ostentatious, gross displays of wealth if Nassim Road is any guide.
These Chinese emigres do however have a lot of cash. Often they are cash rich through old fashioned gangsterism, or corruption, or they are just spoiled progeny. People the CCP can’t easily admit it has, and often would prefer if they weren’t in China. It is why the CCP leaves these emigres alone to get on with life in Singapore and London, and why Singapore (but not London…) is keen to kick them out. Using money laundering rules to eject them tells you exactly what sort of emigres are being targeted.
The CCP uses its Consulates in our big cities and Chinese Societies at our univerisities to monitor expatriates. It isn’t clear if we are a safe haven given Chinese elites have all their assets and a great proportion of family left in China, and are being monitored even though they live abroad.
Last edited 4 months ago by Nell Clover
Samuel Ross
4 months ago
The Chinese ‘rich man’ cannot vote in China. Therefore, he votes with his feet, and flees to a safe space for him and his riches … 😉
Steve Jolly
4 months ago
Interesting that the US surpassed China this year. I wonder what US billionaires could be afraid of that happens in 2024. Let me think….
The super rich aren’t really leaving China. No matter where they go, China will be there, and their wealth creating assets will still be in China. All watched over by the CCP. Indeed, the CCP encourages its super rich to go West because China can’t influence the world if it stays at home.
“Extravagant Chinese émigrés” in Singapore are not China’s super rich. And Singapore isn’t upset by ostentatious, gross displays of wealth if Nassim Road is any guide.
These Chinese emigres do however have a lot of cash. Often they are cash rich through old fashioned gangsterism, or corruption, or they are just spoiled progeny. People the CCP can’t easily admit it has, and often would prefer if they weren’t in China. It is why the CCP leaves these emigres alone to get on with life in Singapore and London, and why Singapore (but not London…) is keen to kick them out. Using money laundering rules to eject them tells you exactly what sort of emigres are being targeted.
For what I see the Chinese elite are moving their children to the West as a safe haven
The CCP uses its Consulates in our big cities and Chinese Societies at our univerisities to monitor expatriates. It isn’t clear if we are a safe haven given Chinese elites have all their assets and a great proportion of family left in China, and are being monitored even though they live abroad.
The Chinese ‘rich man’ cannot vote in China. Therefore, he votes with his feet, and flees to a safe space for him and his riches … 😉
Interesting that the US surpassed China this year. I wonder what US billionaires could be afraid of that happens in 2024. Let me think….