Yes, and you know what’s happening right? All the slightly weaithier ones (including the ones that made an honest business) are quickly trying to move their assets to Europe, the U.S. and Canada. Because when the crapper hits the fan, anyone that is wealth(ier) is a sitting target by the government.
So, no, this isn’t simply like the 80ies when Japan heavily invested abroad. There definitely is that going on too. But I think for a lot of people, there is an interest to have a “get the hell out of the country” plan.
Planned economies are great….. as long as you are the beneficiary of it and the government doesn’t decide to turn around and make you the scapegoat….
Maybe you haven’t noticed but there has been certain cases in which hedge funds/investment groups in China had shorted the market, only for the government to come back and confiscate those profits and jailed certain fund managers. Some say it was because of inside trading. Others say, it was just a way for the government to claim down on those bearish on the market.
Investing in China is the wild wild west right now. Some CEO’s on the board are shorting their own company stock! No conflict of interest there (end sarcasm)
Vancouver did interesting recently. They passed a 25% tax on home purchases by non-citizens I think. And you know what happened? Drove up real estate prices in Seattle, WA.
