China's super-rich eye the exit as leaders brace for economic shock

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China's super-rich eye the exit as leaders brace for economic shock

//business-finance.news-articles.net/content/202 .. he-exit-as-leaders-brace-for-economic-shock.html

Published in Business and Finance on Wednesday, January 8th 2025 at 6:01 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

China's leaders are bracing for shocks to the economy from higher tariffs threatened by US President-elect Donald Trump once he takes office. Millionaires, meanwhile, are relocating. View on euronews

231x130/9145 Bytes

The article from MSN discusses how China's wealthiest individuals are increasingly looking to emigrate due to a combination of economic slowdown, stringent government policies, and a challenging business environment. This trend is highlighted by a significant increase in applications for investment migration programs, with a 50% rise in inquiries noted by one agency. The exodus is driven by factors such as Xi Jinping's "common prosperity" campaign, which has led to crackdowns on private enterprises, tech companies, and real estate, alongside geopolitical tensions and a faltering economy. The article mentions that many are seeking residency or citizenship in countries like Singapore, Canada, and the US through investment visas, reflecting a broader sentiment of pessimism about China's future economic stability and personal freedoms. This migration is not only a vote of no confidence in China's economic prospects but also poses a risk of capital flight, which could further destabilize the economy.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/china-s-super-rich-eye-the-exit-as-leaders-brace-for-economic-shock/ar-AA1xan7J ]