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It was pegged but they pegged it at a number that was stronger than it would otherwise be. China fears capital flight more than anything, and rich people in Chi
by Despegar 7y ago
It was pegged but they pegged it at a number that was stronger than it would otherwise be. China fears capital flight more than anything, and rich people in China would absolutely sell their yuan for dollars or euros in an instant if they could.
Capital controls and the peg are why real estate in China is a bubble. There's no other place for people to put their savings. Rich people who know better don't trust the CCP.
- malandrew 7y agoWhat could the US do to assist in helping capital flight? I would imagine that just helping all the rich Chinese take their money out of China would go a long way to force Beijing's hand.
- chaostheory 7y agoAllow paying for citizenship via investment.
- ridewinter 7y agoJust become Swiss.
- helloindia 7y ago"EB-5 program basically enabled Chinese investors to get their green cards through a $500,000 investment in a regional center project, or a $ 1 million direct investment in their own company." https://www.forbes.com/sites/andyjsemotiuk/2018/06/22/the-l-1-work-visa-the-best-option-for-chinese-investors-wanting-to-immigrate-to-the-usa/#34bd83b221d3 https://www.forbes.com/sites/andyjsemotiuk/2018/06/22/the-l-...