120,000 Chinese Millionaires Flee, Leading to Huge Currency Drain and Economic Collapse
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- เผยแพร่เมื่อ 3 มิ.ย. 2024
- The mass emigration of millionaires has alarmed the Chinese government, which is worried about exacerbating foreign exchange losses and an economic collapse. As a result, the government has started confiscating passports, cutting green cards, and making it extremely difficult to obtain passports.
Credit: @56BelowTV
#chinaobserver
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It's difficult to have any sympathy for these billionaires/millionaires. Many who made their fortunes as a protected class within China, often with party membership and blessings, decide to get out of Dodge later to allegedly protect the fortunes they amassed at the expense of their fellow citizens. Then they do interviews in the West and talk about how terrible the regime is--the same regime that enabled them to amass their wealth. Or, they play both sides by doing the interviews while maintaining deep financial and political connections with the Party. I wouldn't trust these individuals as far as I could throw them.
Don't hate the player, hate the game.
@@luiscuellar685 Why not hate both
@@Patrick-pv9pe Exactly !
⁸1i6@@Patrick-pv9pe
LOL earning profits and building companies isn’t the same as robbing people. Hiring employees and paying them isn’t slavery or the same as taking advantage of them. They’re paid and have safe working conditions. Their salary is according to the market rate.
Companies don’t only hire skilled labour workers. They also hire professionals in all departments such as R&D, marketing, legal, finance and logistics. They have CFO’s, COO’s, directors, managers and supervisors. They’re all paid.
You know you're living in a horrible country when they make it difficult for you to get a passport to leave .
Yes, 100+million left and returned freely must be bad in 2020.
"Reform private businesses" - steal all the private money.
that's why you're poor
Organ leeks Xi Jinpork #sloprosperity #theskydontlie
Organ leeks #sloprosperity #theskydontlie
baZed
CPP Bot account.
the China ship is sinking..... those who can are fleeing before they lose mobility
What is the name of the group that caused so many millions of Russians murdered or starved 1920 - 1960 ?
No wonder Yellen can't get any money from China yet Hungary, Serbia, Cambodia etc have so much direct investment from China. Yes, China is sinking money into those countries except US.
@@1439315 don't know about that but do know that Yellen can't get any money from the sinking ship and Treasury bonds became OVERCAPACITY.
@@1439315 marriage?
You know what...??
Didn't this very channel keep telling you that China was.., is.., will be going..to collapse.?
🤣🤣🤣
👇👇👇
China has been on the brink of imminent collapse in every Tuesday for these 5 decades.
🤣🤣🤣
And here... again..
China is on the brink of another one collapse.!!
🤣🤣🤣
What a magic country China is.
🤣🤣🤣
That explains why all expensive high rise apartment blocks in London are filled with Chinese. Mostly young student aged ones.
Here in Vancouver, it is even worse!
In Frankfurt am Main
I see more and more of them every day 😂😂
ccp subsidized
Exactly! She’s holding assets for the CCP.
Correction. She stole CCP assets and is not returning to China cause they will give her capital punishment for sure
There is no way that 37% of Americans are millionaires.
1% 🇺🇸
How about 70% of the population that don't have $1000 in savings in the bank for emergency and the population in US is???
24 million.
About 7% of population.
@user-br9oi2sh7o Don't know where you get your numbers, but 54% of Americans have a retirement account. Most people with a retirement account put at least $1000 a year into their account.
In an emergency, you can draw funds out of your retirement account or you can borrow against it.
@@Matthew_Loutner 9.7 %of the population
Yup, the new chinese dream is to emigrate.
You know what...??
Didn't this very channel keep telling you that China was.., is.., will be going..to collapse.?
🤣🤣🤣
👇👇👇
China has been on the brink of imminent collapse in every Tuesday for these 5 decades.
🤣🤣🤣
And here... again..
China is on the brink of another one collapse.!!
🤣🤣🤣
What a magic country China is.
🤣🤣🤣
Yeah taking their money with them lol . 😆
These are not immigrants, they are specifically planted in every country to spy at a certain time or carefully placed in a political community to help the party in the near future.
Similar to the 19th century, except the older immigrants DIDN'T have any money but earned in in railroad construction, mining, etc!!
@@kaythegardener definitely that China working on Tofu railroads . 🙃
Can you imagine building your own company then government comes in and be like “this is mine now thank you”
A bit like Australia, the white aboriginal activists are saying, it's mine now.
Ticktock?
@@user-br9oi2sh7o ccp?
Then asks you to run it on their behave.. chino CCP are a joke
So much for China joining the community of modern countries. They seem to be backsliding to the 1970s or even earlier. This will not end well!
For US and G7, no doubt.
China is about to collapse. I watched China experts Peter Zeihan and Gordon Chang's predictions. These guys are the top American experts on China, so they can't be wrong.
Correct
There are a lot of ppl in the US/UK/AUS/Canada who get pissed about rich Chinese people buying up our homes, but rather than blame them, we need to look at our OWN governments for allowing only rich individuals and rich corporations to own homes for the sake of enriching our bankers further, instead of focusing on affordable housing for the working class. There are plenty of houses if we outlaw corporations from owning and managing housing for profit.
There are plenty of small family companies and family trusts that own investment homes. Often this is retirement income.
@@sandybottom6623 This should be capped at two houses per person. One for their primary residence, and one investment property. There's no need for people to own five homes while others work 60+ hours a week to rent an apartment simply because they were born into poverty.
@@Amblin80s That's very undemocratic and anti-freedom of you.
The bubble will burst.
blah, blah, blah.
Here in Australia, the buying up of homes in major cities by Chinese people shows the money leaving China and coming here. My house has tripled in value / cost over the last few years.
Now say thank you 🤣
How’s that good for working Australians
@Marcus_-sy9fi
Exactly. Gov love it as it puts more money the pockets of politicians and bureaucrats and keeps the normal working Aussie under the thumb just that little bit harder.
They need to be banned from buying overseas. They corrupt the market.
GREED! A population of 27 million can not sustain the amount of immigrants and the wages cant compete with multi millionaires. ONLY Austrian Citizens should purchase and not compete for stability and a human right shelter. Stealing from children that will never in their own country be able to afford a home.
Who wants to live in a dystopian government? Such a pathetic situation. Maybe only big brothers love to stay.
If you are a Chinese millionaire and you are just thinking about leaving now you've left it too late.
Exactly, at this point it's like trying to leave Germany in December 1939.
CCP:"Those millionaires are our fugitives involves in money laundry!"
Lol....let this crook move to us.
Most are heading to Australia but due to huge political pressures, there are talks of the government seizing most of their assets to fund housing for natives.
A very large percentage of the Chinese choosing Australia rather than the US is simply because it's much cheaper, faster and easier to get approved for admittance into AU.
If all things were equal, most would choose the US because the potential for Chinese millionaires to increase their wealth is much greater in the US.
Good, I hear there are a lot of homeless Aborigines
@wyganter you wouldn't be saying such nonsense if it were your millions but like the typical commi you're very generous with other peoples cash.
Australia better stop the inflows of Chinese before it’s too late.
lol they couldn't even get the flag right but you believe the video .
Seems like Tofu Dreg country sure has a LOT of government agencies/employee's. Larger the government is the less business is conducts. Leads to collapse faster. Corruption ? Brand new word.
Boeing?
She is very dangerous.
35th anniversary of incredibly brave citizens who wanted liberty in China. ❤
U mean Tiananmen Square masacre. 1989
@@alapaticornell4391 💯. 🙏
china could have been such a great country if it had taken the tiananmen spirit way instead of dictatorship
Any Chinese, young or old is a potential chinese spy, either by choice or forced by the Ccp.
Oh yes, it's a pity that didn't go the way that US Planned and emerged as a Creditor of US instead of like Russia under Yeltsin.
It’s really nothing new in these kommie type of countries. The ones who got the cash left long ago.
Did you finish school ?
Both the poor and rich run away from CC land, but very very few run to corrupt CC land.
Let's not forget it's the 35 year since 六四天安門事件
Don’t bring your bad habits, learn to speak the language & stop showing off your stolen money.
I agree. As a Chinese in USA. I can't stand the mainland Chinese who come here and not try to fit in. Is like why even come here if you don't want to be a part of this society? Go somewhere else and not make me look bad because they aren't willing to put in any effort.
Try not to show the New Zealand flag 🇳🇿 when referring to Australia 🇦🇺
Both are Chinese anyway.
everything on this channel is 100 percent fact,don't question it .
NZ belongs to the Polynesian people.
U should have your own flag🎉
@@alapaticornell4391
Haha , you mean, "Did" belong.."Did."
@@alapaticornell4391 Your statement doesn't make sense...
Where is the love? Don't they feel guilty running away with their money when they could stay & help the less fortunate?
You’ve got to be kidding?
Most Chinese won’t even stop to help a person fallen over in the street.
I doubt their money is clean.
That's why they fled.
So all the "dirty blood" is flowing into Australia / US economies right now...
People always die
@@user-dk3up2nl1m gaza
@@user-dk3up2nl1m Gaza in Particular
Communism = monopoly.
marriage ?
@@1439315 not marriage, monopoly money and "get out of jail FREE" cards
Communism equals to totalitarian, all land belong to central government, personal assets are belong to goverment and can be confiscated at any time. Religions are society's opium by Marxist.
Monarchy = Absolute Monopoly, above law
So America is communist? Interesting
Why are India's rich leaving India ??,
I didn't expect India to make it into the list.
India lifestyle is crap. The rich wants more
imagine trying to find freedom in australia of all places
That just shows how bad it is in China.
Australia is a laissez Faire utopia compared to China.
Imagine believing this story .
Because it´s close and stable
Australia is a very free country despite what garbage you and your fellow travellers swallow from Fox News. Infact Australia is hell of a lot freer than the United States!
😂😂😂 this is the difference between the poor, the rich and the wealthy. Wealthy people know that freedom can be found literally anywhere as long as you have money. The rich and the poor confuse location with better quality of life because they cannot buy everything needed to change any location into the perfect place to live for themselves.
Stay and fix your country!
Sounds great in theory, but this is China we are talking about. These people may have a lot of money and businesses, but they DON'T have a lot in terms of military might. It's hard to "fix" your country when the other side has all the guns and can't simply march in, kill you all, and take your money and businesses whenever they want. It's sort of the same problem with the people rising up, so long as the CCP can count on having a decent number of soldiers sufficiently brainwashed the moment they decide that holding onto their power is worth losing their economic benefits for a time, they can simply go in and wipe out EVERYONE else. The public may be numerous, but they are not that well armed. In China, the term "they can't kill all of us." is not necessarily true.
Rich Chinese purchase property in the San Francisco Bay area. When they buy a property, they also get a free green from the US government.
Free to flee
Totally agree they wanted to be free? All because of communism. 😒
Poor australia has to deal with the chinese
Yes, the money is too good to ignore.
Um, India is the world's most populous country! Not second
I am astonished to observe that the CCP would allow them to depart and not seize all of their funds ?
You have to have connections to get rich...
They fled long before corruption clamp down campaign started, try GUO WENGUI, the West beloved Epoch Times and Fallung Gung that is now being prosecuted since they had passed the use by date.
They fled before anti corruption was put into action and feel proud of it.
make no mistake, many of these "millionares" made their fortunes in China by having Party connections.
They have all gone to Australia and Canada haha😅
@Marka 8274 when they move to Canada, they will have Vote for trudope the p.m. liberal party because the chinese still family back home .
Emperor Xi is above all and ultimate authority. No exception.
China highly regulates outgoing currency. I wonder if they were able to just easily get their money out.
I want to know how they’re getting their money out of China and into banks in the U.S. I get calls from the bank if I transfer more than $10000. out of the country. If I try to withdraw a large sum of cash from the bank, I get questions. If I pay for real estate with cash, I have to explain where I got the money. If I leave the country with $10000. or more, I have to declare it. China supposedly knows more about their citizens’ activities than the U.S, so why don’t they know money is being moved?
Showing NewZealand flag while talking about Australia at 4 minute mark 🇦🇺
ahaha, the businesswoman "opposed CPC"
suuuuure
Translated, they have the same ideology but are not on the same team
CCP is (was) very much factionalized. Used to be somewhat balanced with the factions - through temporary alliances and good old politiking - check each other. However, in the last 10 years, the second generation Reds, represented by Xi, has broken that balance. The revival Red guards have forced out the other factions. Specifically, members of the business oriented Shanghai faction have been scattered across the globe. So this lady could well "oppose CCP", since she's likely from one of the loosing factions. They have no choice but to scatter and take what they can and run. So if you look deeper, you can say that it's not a complete contradiction that "someone from the CCP" could also say they "oppose CCP". They lost and had to run, and they oppose what the CCP represents now, but they also have no influence or choice on what goes on now.
yes, please continue, please send her back so she can be administered some justice
@@davewang202 : Technology has messed up each others' position... and politics and your needs.... and society... this goes without saying. So.... This is the weirdest time of our lives... So.... I thought that some of the communism is literally communal to other countries that also support communism... i.e. South America.... Which, it is doing. So....
So don't ever inpose the idealogy of democracy to the Chinese. Imagine more people like her immigrating.
What happens to the chinese that cant afford to flee?
Mao camps.
Respectfully the signs/clues exist for all to see. Study cycles, and it is easy to spot. IF they ignored all of the information available last 4 years then it is on them.
Billionaires leaving cos the money are dirty money
How did she get so wealthy 🧐??
Just fascinating.
How do they get their money out, when there's a $50k limit on overseas transfers?
That's for ordinary citizens. These are businessmen/women. They have their channels to move money. They can "import a large shipment of ore" from Australia, and pay her friend who takes a cut for his services. Ore? what ore?
Before they can transfer funds to HK banks, then withdraw them thru ATM, and the next step is easy.
From what I heard, they also could do it through casinos in HK and Macau by pretending to lose millions in gambling.
Wear a lot of 'jewelry' on every trip. Old trick from long ago. And she can wear it under her dress which can hide a lot of value.
They already own assets abroad from the more liberal era, they know some of the few remaining corrupt officials, or they simply don't. Or they get paid by the media shills to seethe at China publically
Very comprehensive video. Loved it!
😂😂😂i see her pics when she was in her prime. She lied down to gain wealth.
The lady from Australia who said attracting millionaires to the country wasn`t a net benefit is nuts.If they invest in things besides real estate they also spend money in Australia but may start a business and pay taxes..I don`t know about her but rich people have been who I have worked for.Do rich people collect social benefits? Left wingers hate rich people because they are jealous or envious.Poor people are easier to control.
In my experience, most rich people aren't nice people, and its not just their money they bring with them.
Most do not pay taxes. They can arrange their assets to pay little or no tax. Why do you think foreigners especially rich Chinese love Australia. Rich foreigners do not benefit local people. I blame the Australian government for allowing such lax laws to benefit foreigners not the locals. Australia is also great for money laundering.
@@preciousswollowho They mostly start BS businesses that don't employ many people, mostly their own. And their offshore money isn't taxed. They bring it here in increments. You often see Chinese people at ATM's with like 3 or more bank cards for this reason.
They also make other Chinese people in this country look bad. The ones who have arrived here in the last 8-10 years, especially 5-6, are significantly richer than the ones that came before.
I feel sorry for the poorer and middle-class Chinese who can't afford to leave the country and/or have no opportunity to emigrate. This does not mean that people are not part of the problem in upholding an authoritarian government. But there's so many huge medical/heath, food, environmental, societal, political, criminal, economic issues that are unsolvable at this point. It's also so nihilistic and dystopic in China. I do see the Chinese seem to be at the possible beginnings of a full-on revolt.
they need to stay there instead of going to other places and spreading the ideas that made their home country awful to begin with.
the average chinese mentality is if i'm doing well, have a steady job, then let the politicians do their own things. therefore, if only 2 in 10 is suffering from the system, the other 8 aren't going to stick their neck out. this mentality is actually quite common throughout the world. most people only care about their immediate self-interest and they don't see that in human society, we are all intertwined in some ways. in the usa, people complain about high housing cost, yet most homeowners still sell to the highest bidder, contributing to the problem.
Yes, we are all complicit, to varying degrees, concerning the inequality, injustice, corruption, abuse, and authoritarianism that likely reside within our own societal, political, legal, religious, and economic systems.
Do they know war is coming is that why
They at least know economic collapse is coming for mainland China
Going by the price of real estate in Australia, each of these fleeing Chinese bought a home or six here.
It's largely as the Howard government removed a tax for houses leaving boomers to do negative gearing.
Every country wants another millionaire to move in, but don't want the middle class leaving
Likely serving as conduits for offshoring and laundering money.
In Melbourne there’s a rich official that bought a 25 million dollar house in toorak. To no surprise the builder used materials that does not meet the Australian building code to increase their margins. It’s crazy how both sides are equally corrupt.
Also Simonds has a rich client that every week buys out any blocks of large enough land for knock down and rebuild into townhouse. Sure it increases our home supply but it also prices out any local investor that wishes to knock down and rebuild a single story into a townhouse.
Fleeing to another country, even if it means losing a lot of your money is probably worth it if the alternative is staying and losing ALL of it, plus your life and the lives of your family.
They ain't losing any of that money. They definitely found a way around it to transport that wealth with them.
@@getonwithit.2847 I kind of hope they are managing to take their art and valuables collections with them as well. The CCP has sort of a schizoid policy when it comes to Chinese antiquities.
Not so much in terms of GETTING them (they are quite rigid in their policy than any Chinese artifact that pre-dates the Communist Revolution is cultural property and should be returned to China, even if it was made for export. Most countries are meeting them halfway, confiscating and sending back obviously looted articles and those that have dubious credentials, but not actually going around and confiscating every singe old piece of Chinoiserie from private citizens, like China wants.
The schizoid part is in what they DO with the items one they get them. During more liberal, slack times, they do what is proper with them, put them in museums where everyone can look at and enjoy them.
The problem comes during stricter times, like now. One of Mao's big ideas was the elimination of the "Four Olds", old thoughts, old ideas, old beliefs, and old methods. And the way he wanted this manifested was basically through as complete an erasure of China's pre Communist history as possible. The CCP has very often been known to take an area of historical or cultural significance and raze it to the ground to put up modern "proper" facilities for tourists, or just use it for regular modern land uses. And that extends to the art. During the Maoist crackdowns, TONS of scroll paintings and handwritten books were burned, enamel ware pieces melted for their brass, porcelain ground into dust for building, and jade carvings cut down into standardized cabochons and beads for export (Mao COULDN'T break the Chinese love of Jade, it was too deep.) And, as a neo Maoist, there are a lot of rumors that Xi is doing the same, and that most of the old art pieces being snapped up by wealthy Chinese on vacation are going straight into the furnaces once they get home (f they aren't smart and don't hide them).
eliniation
Chinese millionaires... please stay away with your ill-gotten gains... it is bad karma
They know the "sh*t's about to hit the fan". Taking the money and run!
Dick Wang has got to be the best name I have ever heard.
The millionaires can flee, but it’s very difficult for them to take their millions with them.
Used to be much easier. The loopholes have largely been closed but for someone with lots of money, anything’s possible.
Very good narration in this video. And yes, socialism / communism always governs by fear. Many fall in their trap.
Are these rich Chinese have no reason to fear for their liberty and money? Everybody knows how authoritarian regime works. It's like in Russia, opposition rots and dies in prison. The regime is sensitive and onion-skininned.
The depression decade has started 😂😂😂🤣🤣🤣
It's been around even for the rest of the world for years now.
People just choose to deny it and toxic "good vibes" only.
I find it even worse you put depression with laughing emojis next to each other like it is funny and a joke.
In US, agreed.
The West media is the strongest part of the West. 😂😂😂😂
Best to get out while you still can...
Oh, and she isn't corrupt herself??
“37% of Americans have $1M of investable liquid assets’? That would be 118,000,000 millionaires!
Yeah sure... those with least power are the problem... 😅
The CCP have been so oppressive and sleazy that the wealthy Chinese just don't feel safe their. A clampdown officiated by the CCP would deprive billions of dollars of assets from its people. Hence, the exodus of wealthy Chinese individuals in search of higher living standards, better educatiom and transparent governance is inevitable.
Don’t come to Canada, it’s too expensive 😅
And they aren’t welcome here
They are rich Chinese..nothing is too expensive for them.
@@gavinlew8273 Immigration policies will put a stop to that.
OOOOFConomy! It's going bad for China!
Yes , so bad that Yellen tried twice to borrow and no luck. SO BAD.
Ccp should prevent them from leaving
Good
Tsainese will going back eating "sweet potato" aka Camote.
No actually 120 million have fled!
But they all move with all their money. So how bad can it be in PRC if no one stops them.
"Sone are corrupt". That tells you this woman still part of the system and definitely lacks a moral compass.
Why leave India, it warm and lots of neighbors?
I believe Canada is in chaos right now
@3:11 Did you use that US flag rather than the current flag, for a specific reason? That's the 15-star, 15-stripe, "Star-Spangled Banner" flag of 1795 - 1818.
Filipino Diaspora will go after those wealthy Overseas Chinese.
why
@ltwitht China will invade the Philippines soon. It will lead to the Mass Migration of 60 million Filipinos going abroad.
@ltwitht : Come on ladies, throw yourself at them ! Throw yourselves ! Forget your decencies ! Game on ! Make sure it sticks ! Jump ! I realised that, there's no such a thing as overseas' chinese... cos some are actually Vietnamese. And some are Native Americans. And some are Thais. Some are the older generation of Japanese.... not that, anything matters now in this modern day capitalism... Hey ho.
Guys don't worry, it's all fine even this won't affect the economy, I had this incredible idea hear me out: If you just print more money and forge these here statistics...
7:54 this is my parents' country. I'm so showing this to my mom because last time I was there, these people were all up and down the place. It's becoming a problem.
Its not super easy to get all your millions out
I have no idea how the top ten richest nations in the world collapse or go broke. Point of wealth is to distribute amongst the nation to it strong
300k people in the world (give or take) have 1/3 of the world money
china just lost half its money at least
And other countries swear by BRICKS 😂
There is a Chinese maxim, which says: "If you became rich too fast, likely you have done something wrong", so those fleeing millionairs complaining about China, may do it as an excuse/coverup for their own wrong doings.
You are right there, like Guo Wengui and the Epoch Times that Fallung Gung is a division and now the use by date values are gone and in prosecution.
Because they stole from friends, associates, own family members and the country.
At around the four minute point, you were talking about Australia but showed the flag of New Zealand
so after Australia cancelled the 888 visa the money just flowed to the US and Canada.
Nobody dared to make this similarly act by Singapore Ruling Party People Action Parties . All land are held by the govt which are controlled even by the legal systems
Most Guangdong women head to Ipoh Malaysia where they stumble upon local Tamil Indian men there. A lot of China females often fall for the Tamil men and get citizenship in the process after mating.
I work in the tax industry in the U.S. You must do tax planning before becoming a U.S. citizen. The U.S. taxes worldwide income. It also has an estate and gift tax system. You really need to do tax planning BEFORE you become a citizen, otherwise you may owe the U.S. government alot of money that you didn't expect to.
China use to have the most millionaires n billionaires. Now it is share amount other countries.👈😁😁
When did Australia adopt the NZ flag?
120 billion flee
Yes but... imagine if they went abroad.. and then give back businesses, from inside china to them... still.... that is doing business, isn't it ? So it means that it is 120 billion to play with... and I bet that they will find some ways to make it work.. so that it is chinese goods exported back out. Cos.. what else are you going to do, if the world has gone bankrupt ????....
Li Keqiang did lose his life! Mr Pooh bear...
"To live, you must Scam, Bribe the Security for Blind eye and Smash someone phones."
Become one of City Rats, City Rats lived way better than humans!
You’re a bot 🤖
At 4 minutes- that’s a New Zealand flag.
to china, your government cannot give you any hope, it's now time to pray to Lord Jesus ^
No one is a "self made billionare"