Tuesday, November 29, 2011

What do they know?

In all the excitement about China's growth and the many indisputably positive changes that have taken place in this country over the last 30 years, one interesting question is why so many of the most successful people there are the most eager to leave. The article states that around 60 percent of the rich (meaning around 1.5-2 million USD of net worth) are interested in emigrating to another country, mostly somewhere in the English speaking world.

There's a lot of very interesting back and forth on the true condition of the Chinese economy. Even living here, it's difficult to get a good feeling for what's going on. It must mean something that the richest and most successful are so interested in leaving the country. They can afford the best China has to offer and know their way around the system as well as anybody over here, but they want out. From here it looks like the China insiders selling high on the country, though I suppose you could make the more optimistic case that the rich, who largely got their wealth through corruption and connections, think that the game may be up and want to get while the gettings good.

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