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The trillions in Capital Outflows over the last two decades that found its way into real estate all over the west (Vancouver, Toronto, London, NYC, etc) is a go

The trillions in Capital Outflows over the last two decades that found its way into real estate all over the west (Vancouver, Toronto, London, NYC, etc) is a good indicator of how the rich feel about their Government in China. Everything you have can disappear in an instant unless you took steps to protect it (move your money out into hard assets). Cross the CPP and there are no second chances. Jack Ma is finished.

ptero 6y ago
I do not think that those outflows necessarily indicate problems (they might, but they might not). China for many years had a huge current account surplus, which means that the country exports way more than it imports, so it accumulates dollars (euros, yen, etc.) that it needs to do something with. Those capital outflows might be panic setups but they may also be prudent diversifications. For example, Japan citizens also went on a buying spree around the world during their 1980s bubble, which did not mean persecution and fear in Tokyo.
Aperocky 6y ago
If by finished you mean still having double digits of billions of dollars and live a life doing pretty much whatever he wants without actively challenging government regulation. yeah. Despite the common fantasy here that if someone was not appearing in public in China means they must have 'disappeared', what usually happen is they come out again and then the news pretending this whole episode never happened. It became so excessive, I remember news calling Kim Jong Un's disappearance and death at least 5 different times in 2020.
- hourislate 6y ago
  >If by finished you mean still having double digits of billions of dollars and live a life doing pretty much whatever he wants without actively challenging government regulation. yeah. History would suggest otherwise... https://www.nytimes.com/2020/07/18/business/china-xiao-jianhua.html https://www.nytimes.com/2020/07/18/business/china-xiao-jianh...
maeln 6y ago
While I agree with you, I also think that the CPP was more than happy to have a lot of assets in foreign country owned by Chinese citizen. It give them a lot of soft power in foreign diplomacy.
lucian1900 6y ago
It's quite refreshing to see a state actually willing to discipline its rich, in favour of its workers.
- AnimalMuppet 6y ago
  Then maybe it shouldn't have said "To get rich is glorious".
- zepto 6y ago
  How are workers being favored?
  - lucian1900 6y ago
    Monopoly capitalism disfavour workers, restricting it favours them.
    - zepto 6y ago
      What has that got to do with disappearing millionaires? I don’t see China backtracking on capitalism.
      - lucian1900 6y ago
        Jack Ma had started to mention splitting up his monopoly and became much less vocal overall. One of the drivers of monopoly capitalism appears to have been disciplined slightly.
        zepto 6y ago
        Seemed like he was doing that before he ‘dissapeared’, no? Also what does Ma have a monopoly on? Just because a company is big and successful doesn’t mean it has a monopoly.
        lucian1900 6y ago

ptero 6y ago

I do not think that those outflows necessarily indicate problems (they might, but they might not). China for many years had a huge current account surplus, which means that the country exports way more than it imports, so it accumulates dollars (euros, yen, etc.) that it needs to do something with. Those capital outflows might be panic setups but they may also be prudent diversifications. For example, Japan citizens also went on a buying spree around the world during their 1980s bubble, which did not mean persecution and fear in Tokyo.

Aperocky 6y ago

If by finished you mean still having double digits of billions of dollars and live a life doing pretty much whatever he wants without actively challenging government regulation. yeah. Despite the common fantasy here that if someone was not appearing in public in China means they must have 'disappeared', what usually happen is they come out again and then the news pretending this whole episode never happened. It became so excessive, I remember news calling Kim Jong Un's disappearance and death at least 5 different times in 2020.

hourislate 6y ago
>If by finished you mean still having double digits of billions of dollars and live a life doing pretty much whatever he wants without actively challenging government regulation. yeah. History would suggest otherwise... https://www.nytimes.com/2020/07/18/business/china-xiao-jianhua.html https://www.nytimes.com/2020/07/18/business/china-xiao-jianh...

maeln 6y ago

While I agree with you, I also think that the CPP was more than happy to have a lot of assets in foreign country owned by Chinese citizen. It give them a lot of soft power in foreign diplomacy.

lucian1900 6y ago

It's quite refreshing to see a state actually willing to discipline its rich, in favour of its workers.

AnimalMuppet 6y ago
Then maybe it shouldn't have said "To get rich is glorious".
zepto 6y ago
How are workers being favored?
- lucian1900 6y ago
  Monopoly capitalism disfavour workers, restricting it favours them.
  - zepto 6y ago
    What has that got to do with disappearing millionaires? I don’t see China backtracking on capitalism.
    - lucian1900 6y ago
      Jack Ma had started to mention splitting up his monopoly and became much less vocal overall. One of the drivers of monopoly capitalism appears to have been disciplined slightly.
      - zepto 6y ago
        Seemed like he was doing that before he ‘dissapeared’, no? Also what does Ma have a monopoly on? Just because a company is big and successful doesn’t mean it has a monopoly.
        lucian1900 6y ago