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That's only kind of true. They park it in other places besides China: http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-million.html http://www.nytimes
by awongh 10y ago
That's only kind of true. They park it in other places besides China: http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-million.html http://www.nytimes.com/2016/11/30/magazine/how-to-hide-400-m...
- dageshi 10y agoGranted... but they're not parking it in China are they? So in terms of places you put your money being sure you'll get it back, China is not very high on that list for a number of reasons.
- smallnamespace 10y agoAsset prices in China are grossly inflated because of 1) capital controls and 2) China has been running large trade surpluses for about 2 decades. It would make sound financial sense for any rich person to move as many assets as they could out of the country, regardless of whether the nation's institutions were trustworthy.