Chinese banks cause alarm as capital flight measures intensify
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Re: Chinese banks cause alarm as capital flight measures intensify
#2Re: Chinese banks cause alarm as capital flight measures intensify
#3Meanwhile, China’s ruling party is intent on attracting inbound foreign capital.
Somehow i think that may be a challenge.
There may be money to be made in China, but if you never know if you can get it out thats going to put a damper on things.
Re: Chinese banks cause alarm as capital flight measures intensify
#4Meanwhile, China’s ruling party is intent on attracting inbound foreign capital. Somehow i think that may be a challenge. There may be money to be made in China, but if you never know if you can get it out thats going to put a damper on things.
Seems like fairly easily dealt with by foreign big capital kind of money. They can just buy some commodity with their chinese cash, export it as a trade good, then import it in the country of choice and sell it and deposit it in their account. Sure you may lose 20% of profits in the process but that's probably ok if you're getting access to an untapped market.
Re: Chinese banks cause alarm as capital flight measures intensify
#5Looks like a crypto currency event might be happening if the 2009 Greek govt and banking collapse was anything to go by.
Looks like we'll be seeing just how underground crypto currency is with the Chinese Rich. Anyone spotting any patterns to confirm in the blockchains?
https://www.scmp.com/tech/policy/article/3196781/chinas-cryp...
Re: Chinese banks cause alarm as capital flight measures intensify
#6Meanwhile, China’s ruling party is intent on attracting inbound foreign capital. Somehow i think that may be a challenge. There may be money to be made in China, but if you never know if you can get it out thats going to put a damper on things.
I'm not so sure about that. China has brought a lot of US debt https://www.ey.com/en_cn/china-overseas-investment-network/o...
Re: Chinese banks cause alarm as capital flight measures intensify
#7I wonder what the billionaires do to get their money out? Do they pay people to travel with jewellery that gets sold for foreign currency once it's outside China? Do they overpay for imported goods and get the difference paid into a Swiss bank account?
It's always interesting to me how really wealthy people pay for loopholes
Re: Chinese banks cause alarm as capital flight measures intensify
#8Meanwhile, China’s ruling party is intent on attracting inbound foreign capital. Somehow i think that may be a challenge. There may be money to be made in China, but if you never know if you can get it out thats going to put a damper on things.
I'm not so sure about that. China has brought a lot of US debt https://www.ey.com/en_cn/china-overseas-investment-network/o...
I don’t see how China buying U.S. debt would lead to more inbound foreign capital into China. Can you elaborate on this?
Re: Chinese banks cause alarm as capital flight measures intensify
#9It's my opinion there are generally 4 kinds of Chinese UHNWIs:
1. Mainland with no interest in foreign investment
2. Mainland mostly with some foreign investments
3. Split between mainland and foreign
4. Trying to move mostly foreign while keeping some in mainland (generally to take care of family or business concerns back home)
In the US as a more stable asset haven, hot real estate markets are usually where large piles of cash are parked by global investors, not just Chinese. The people in the 4th group often try to emigrate because individual property rights still aren't fully guaranteed in China. (Jack Ma is an example.) You would too if your neighbor had their assets seized or frozen arbitrarily.
Re: Chinese banks cause alarm as capital flight measures intensify
#10Looks like a crypto currency event might be happening if the 2009 Greek govt and banking collapse was anything to go by. Looks like we'll be seeing just how underground crypto currency is with the Chinese Rich. Anyone spotting any patterns to confirm in the blockchains? https://www.scmp.com/tech/policy/article/3196781/chinas-cryp...
Do you think it's feasible to mine bitcoin to 'export' wealth from China?
Or is there a way to buy bitcoin with Renmimbi?