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>because if their money is in China, they don't really own it The same can be said about money moved to the West, just with a different risk profile. As the Ru

by fuoqi 4y ago

>because if their money is in China, they don't really own it The same can be said about money moved to the West, just with a different risk profile. As the Russian situation has shown, your property can be creatively taken away if your country of origin pisses off the US too much.

coffeeblack 4y ago
What I said was already 10+ ago in Hurun Report about why Chinese money flees to the West. But Chinese rich should probably ask you for advice.
enaaem 4y ago
And yet we don't see capital flight from western countries to Russia and China. People with skin in the game are sending their money and kids to NATO countries.
andsoitis 4y ago
The Russians whose capital had been frozen have direct ties to and prop up Putin. I don’t think you’d be able to name a single case that isn’t T like that.
- fuoqi 4y ago
  How about Arkady Volozh? He got sanctioned not because he has "direct ties to and props up Putin", but because Yandex operates in Russia and has to follow its rules. Just look at the length of the list with sanctioned persons. Are you seriously saying that all of them have "direct ties to and prop up Putin"?
  - lostmsu 4y ago
    Yandex has started filtering out independent news about the war while he still was the CEO. He wouldn't have been sanctioned if he resigned when Yandex received that request.
    - fuoqi 4y ago
      1) You are moving the goalpost compared to GP. 2) Yandex was understandably cautious in the light of the new Russian laws, which effectively put a censorship net on coverage of the war. 3) Are you saying that Volozh should have followed the unspoken Western rules in operation of a business in Russia (read: he should've acted to please the West as much as he can, anticipating its demands) or risk loosing access to all his property in the West without any warning? And you think the Chinese will not see it as a potential risk?
      - lostmsu 4y ago
        I think it is pretty clear that once your money are out of China you'd have a choice if shit hits the fan: lose the money in the West and stay in 3rd world or another fascist state (that China will turn into if not there yet), or lose some money in China and relinquish control of involved companies, but be free in the West.
  - andsoitis 4y ago
    > How about Arkady Volozh? He was sanctioned by the EU, no the US. 1) https://en.wikipedia.org/wiki/Arkady_Volozh https://en.wikipedia.org/wiki/Arkady_Volozh 2) https://www.reuters.com/technology/yandex-ceo-volozh-resigns-after-eu-sanctions-2022-06-03/ https://www.reuters.com/technology/yandex-ceo-volozh-resigns...
- anonymouskimmer 4y ago
  Unfortunately for Chinese businessmen this also applies to many of them, not directly, but through shared Communist party membership. https://daily.jstor.org/communist-party-of-china/ https://daily.jstor.org/communist-party-of-china/ > Regulations require that all state-owned enterprises and private companies operate party branches, and even some foreign-owned companies like Walmart have them. Internally, the organization can serve as a fertile networking ground. And for entrepreneurs, party membership often brings better relations with local government officials.

by fuoqi 4y ago

coffeeblack 4y ago

What I said was already 10+ ago in Hurun Report about why Chinese money flees to the West. But Chinese rich should probably ask you for advice.

enaaem 4y ago

And yet we don't see capital flight from western countries to Russia and China. People with skin in the game are sending their money and kids to NATO countries.

andsoitis 4y ago

The Russians whose capital had been frozen have direct ties to and prop up Putin. I don’t think you’d be able to name a single case that isn’t T like that.

fuoqi 4y ago
How about Arkady Volozh? He got sanctioned not because he has "direct ties to and props up Putin", but because Yandex operates in Russia and has to follow its rules. Just look at the length of the list with sanctioned persons. Are you seriously saying that all of them have "direct ties to and prop up Putin"?
- lostmsu 4y ago
  Yandex has started filtering out independent news about the war while he still was the CEO. He wouldn't have been sanctioned if he resigned when Yandex received that request.
  - fuoqi 4y ago
    1) You are moving the goalpost compared to GP. 2) Yandex was understandably cautious in the light of the new Russian laws, which effectively put a censorship net on coverage of the war. 3) Are you saying that Volozh should have followed the unspoken Western rules in operation of a business in Russia (read: he should've acted to please the West as much as he can, anticipating its demands) or risk loosing access to all his property in the West without any warning? And you think the Chinese will not see it as a potential risk?
    - lostmsu 4y ago
      I think it is pretty clear that once your money are out of China you'd have a choice if shit hits the fan: lose the money in the West and stay in 3rd world or another fascist state (that China will turn into if not there yet), or lose some money in China and relinquish control of involved companies, but be free in the West.
- andsoitis 4y ago
  > How about Arkady Volozh? He was sanctioned by the EU, no the US. 1) https://en.wikipedia.org/wiki/Arkady_Volozh https://en.wikipedia.org/wiki/Arkady_Volozh 2) https://www.reuters.com/technology/yandex-ceo-volozh-resigns-after-eu-sanctions-2022-06-03/ https://www.reuters.com/technology/yandex-ceo-volozh-resigns...
anonymouskimmer 4y ago
Unfortunately for Chinese businessmen this also applies to many of them, not directly, but through shared Communist party membership. https://daily.jstor.org/communist-party-of-china/ https://daily.jstor.org/communist-party-of-china/ > Regulations require that all state-owned enterprises and private companies operate party branches, and even some foreign-owned companies like Walmart have them. Internally, the organization can serve as a fertile networking ground. And for entrepreneurs, party membership often brings better relations with local government officials.