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> How can they prevent migration of talented people, given China's infinite war chest ? The Renminbi is very difficult to convert.
by wolfgke 8y ago
> How can they prevent migration of talented people, given China's infinite war chest ?
The Renminbi is very difficult to convert.
- basementcat 8y agoI've never had a problem converting modest amounts of CNY <-> USD at any bank in China or in the USA. Are you referring to capital export controls (~100k CNY/year)?
- wolfgke 8y ago> Are you referring to capital export controls (~100k CNY/year)? Yes.
- avastmick 8y agoSorry, this is not true. I live and work in China and move far than that a year. Also the NZ / Australian property markets are both in a bubble caused by Chinese cash investment by wealthy individuals, 100k CNY won't buy anything. 100k CNY is only 15k USD.
- basementcat 8y agoAre the capital restrictions only enforced on citizens or are there trivial workarounds? ("education" or "travel" expenses)