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> Chinese money fleeing uncertainty More like fleeing Chinese taxes and laundering money.

• seanmcdirmid 10y ago
  Both. The Chinese economy is not dong as well as the gov says it is, places to park money to avoid deprecation and inflation are quite limited domestically. There is also some laundering going on, as well as some fat cats setting up their life outside of china so they can escape to somewhere when Xi's anti corruption campaign catches up with them.
  • lawnchair_larry 10y ago
    Are there no "legitimately" rich people in China? I've been given the impression that the laws and economy are structured such that one cannot become wealthy without taking what "should" have gone to the government/people, but I find this all very confusing. Obviously there are very visible rich Chinese folks. Or is it more comparable to rich Americans with Panama accounts, which there is nothing necessarily wrong with, but we all know that a good chunk of them are probably dodging taxes?
    • seanmcdirmid 10y ago
      There definitely are! But they aren't the ones who have to really worry about getting their assets (and eventually asses) out of China. There are plenty of people who have built their empires via guanxi, bribery, and lots of untaxed grey money. Those are the ones that are a bit more worried about the government turning against them (because there is plenty of ammunition).