Quantcast

Wealthy Chinese Are Leaving Their Country: Is It the Beginning of the End for China?

deBrice 2012/08/09 23:00:00
You!
Add Photos & Videos
For the first time, the budget of China is in deficit, as the capital exiting the mainland exceeded $100 billion, leaving the country with a deficit of $11 billion -- which is still under 0.5% of China's internal reserve.

The “Hurun Report,” which keeps tracks of China's wealthy citizens, announced that 16 percent of China's rich already left the country and they expect this number to grow as 44 percent intend to do the same very soon. Is socialism not attractive enough to wealthy people? And does this news mark the beginning of the end for China?

ECONOMIST.COM reports:
MAINLAND China can now boast over 1m wealthy citizens (qianwan fuweng) each with over 10m yuan ($1.6m), says the latest edition of the 'Hurun Report.'
citizens qianwan fuweng 10m yuan 1 6m latest hurun report

Read More: http://www.economist.com/node/21559949?utm_source=...

Add a comment above

Top Opinion

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • legalam... Ragnarok13 2012/08/14 23:50:16
    legalamericanwoman
    then who is Harrison J. Bounel???

    lol :) you think and therefor you are alive! Thank you! Yay for ACTIVE NON COMPLIANT intelligence!
  • Red Ragnarok13 2012/09/02 07:51:22
  • Dale G legalam... 2012/08/14 20:47:40
    Dale G
    Au contraire, It was Dubya who started that can of worms.
  • legalam... Dale G 2012/08/14 23:50:48 (edited)
    legalamericanwoman
    NO it was Bush Sr. and every president and all the bipartisan congresses after which continued our countrys fallen status.
  • Tracie Richards 2012/08/12 15:55:49
    No
    Tracie Richards
    Nah, as long as our administration keeps chasing our corporations there by supporting unions and excessive regulations they'll be fine.
  • CUDDLY BUT STILL CRABBY 2012/08/12 15:49:48
    Yes
    CUDDLY BUT STILL CRABBY
    +1
    But what's important to me now, at this moment, is America. Everything else is second rated.
  • RTHTGakaRoland 2012/08/12 15:22:50
    Yes
    RTHTGakaRoland
    +2
    Someone smuggled a copy of Atlas Shrugged into China.
  • legalam... RTHTGak... 2012/08/14 23:52:35
    legalamericanwoman
    +1
    lol :) love it!
  • gary 2012/08/12 14:07:57
    Yes
    gary
    +1
    If the rich Chinia population tries to locate to the U.S. They will be hunted down an killed. It's not a safe haven anymore.
  • Bill gary 2012/08/12 14:56:50
    Bill
    +2
    Sure it is, that's why Obama encourages "sanctuary cities for illegal aliens"

    ALL CRIMINALS WELCOME HERE!
  • DavidK 2012/08/12 12:42:02
  • Resp 2012/08/12 11:32:29
    Yes
    Resp
  • sally 2012/08/12 07:09:13
    No
    sally
    +1
    I don't blame them, the weather sucks and they can only have one kid. I'd get the hell out of there too if I lived there.
  • Stevethinks 2012/08/12 06:23:27
    No
    Stevethinks
    Most are migrating to have more than one child. Why would you think it would be the end of them and not US. Are you concerned that they will run out of people? They have a couple of billion dollars leaving and we are printing three billion dollars a day and there are $31 trillion in pirate bank accounts round the globe. Pot calling the kettle black.
  • star 2012/08/12 04:54:05
    No
    star
    Not Likely but would be fine with me.
  • Jacker The Capper 2012/08/12 03:25:28
    No
    Jacker The Capper
    No. They are moving out now, BECAUSE they can! They have enough money!
  • brian.southworth.921 2012/08/12 01:54:43
    No
    brian.southworth.921
    It's called the global economy. Every bodies money is mixed up with everybody else. It's only natural that if the E.U. And America are having economic problems that it would effect the rest of the global economy. Who know? Maybe some of them will set up factories here? Lol
  • TheR 2012/08/12 01:10:00
    No
    TheR
    Yeah right. And take their money where? To America, where there are no laws to prosecute the corrupt Banks, Wall Street, and corrupt Politicians? Chinese got their wealth because of their system. Why would they abandon the golden goose?

    http://www.informationclearin...
  • FPSRules 2012/08/12 00:54:11
    No
    FPSRules
    Just the opposite.
  • Common Sense Conservative 2012/08/11 23:00:33
    No
    Common Sense Conservative
    +2
    But the U.S.A. under Hussein Obama is.
  • Diane 2012/08/11 22:45:51
    No
    Diane
    China's been experiencing a housing bubble which, I think, is dangerously close to bursting. But I think they'll survive.
  • legalam... Diane 2012/08/14 00:34:03
    legalamericanwoman
    your sarcasm caused me to laugh today ! :) Thank you lol
  • mae 2012/08/11 22:05:09
    No
    mae
    No, but it might be the beginning of the end for China's communist government stangle hold.
  • JERSEYDUDE 2012/08/11 21:49:10 (edited)
    No
    JERSEYDUDE
    i duno but America has a bunch of people leaving as well and i wonder where theyre all running off to......an underground bunker maybe?
  • drdos1943 JERSEYDUDE 2012/08/11 23:19:28 (edited)
    drdos1943
    +1
    No, not to underground bunkers.....just to countries that have substantially lower tax rates than we have and are more friendly for investment....and with this administration, I do not blame them one iota.
  • JERSEYDUDE drdos1943 2012/08/12 00:49:20
    JERSEYDUDE
    the corporate tax rate was 40 way before Obama was even President and Chinas is 25 so get a clue
  • drdos1943 JERSEYDUDE 2012/08/12 14:16:05
    drdos1943
    Companies, large and small, will move (wherever that may be) to where they can compete in this global economy. It is no longer the U.S. with its 38% corporate tax (the highest in the world). If the corporate tax were zero and there were fewer restrictions on business, every company on this planet would be clamoring to establish their businesses here where there are the most affluent consumers, providing millions of jobs and millions of workers with taxes from their pay checks (where most of the government income comes from) funneled directly to the federal government.

    The one who is clueless is in question.
  • JERSEYDUDE drdos1943 2012/08/12 16:25:01 (edited)
    JERSEYDUDE
    i have no sympathy for rich people with rich companies who have millions and billions coming in and then complain about taxes when they have tons of money still stuck up their ass.....they can take their companies and shove them up their asses...im guessing youre voting Mitt Romney right? the man who wants to lower the corporate tax but raise the tax on the poor and middle class....dont tax the rich but tax the poor that makes all the sense in the world...........NOT
  • drdos1943 JERSEYDUDE 2012/08/12 16:54:53
    drdos1943
    I may vote for Romney.

    Nowhere has Romney indicated that he would raise taxes in the poor and the middle class. That is left wing propaganda, and you have fallen for it. You probably believe the "Romney killed my wife" ad as well, which was a complete lie, even rebuked by the N.Y. Times and CNN, both in the tank for Obama.

    When Romney was governor of Mass., he was confronted with a 3 billion dollar deficit. He worked with a Democratic legislature and when he left the office, there was a 600 million dollar surplus...and it was accomplished without raising taxes on anyone.
  • JERSEYDUDE drdos1943 2012/08/12 17:02:15 (edited)
    JERSEYDUDE
    sorry i dont watch main stream news propaganda like you do....3 billion deficit and 600 millin surplus you say? really? no tax raising?where did ALLL this money come from? out of thin air at the Federal Reserve? Romney also created the most expensive healthcare in the nation in MA why dont you mention that?
  • drdos1943 JERSEYDUDE 2012/08/12 18:11:42 (edited)
    drdos1943
    I suggest that you look up the financial stats in Mass. when Romney was governor. Of course, he did not accomplish balancing the state budget by himself. It was bi-partisan compromise, working with the Democratic legislature. Many things can be accomplished when people, in a common dire situation, can sit down and work together for a common cause. Romney, in this case, was a uniter...not like Obama who is a divider using class warfare rhetoric. FDR, JFK, Reagan, Clinton e.g. were all uniters. Obama is not. That is the main reason why nothing is getting done in Washington. It's called lack of leadership.

    Where did all the money come from? All fees, such as auto license and marriage license fees, most of which had never been raised in over two decades were raised to the average national level....and state spending was cut....simple, but effective solutions.

    Romney Care? ... big mistake. He should have followed the same principles we use in Texas with CareLink; but remember, he was working with a Democratic legislature. The current Democratic governor, Deval Patrick, after having abrogated many of Romney's policies, is in financial trouble again.;
  • JERSEYDUDE drdos1943 2012/08/12 18:39:51
    JERSEYDUDE
    no point in that...im not voting for the douchebag either way
  • drdos1943 JERSEYDUDE 2012/08/12 22:00:26
    drdos1943
    Which "douchebag" are you referring to?
  • JERSEYDUDE drdos1943 2012/08/12 23:08:53
    JERSEYDUDE
    Mitt Romney but im not voting for Obama either
  • gary drdos1943 2012/08/12 17:02:33
    gary
    let them leave. The Real AMERICAN'S will stay. And when they cross the Borader let the IRS go at them.
  • drdos1943 gary 2012/08/12 18:17:29 (edited)
    drdos1943
    The IRS has no jurisdiction over someone who is a citizen of another country.

    A REAL American is one who is self-reliant, hard working, independent, and successful....It's getting difficult to find such people today.... and if you think that they are wanting to have their hard earned wealth taxed and thrown away on frivolous government spending and given to those who refuse to earn their own way, welfare for single mothers with four kids, a limestone museum in Idaho, etc., etc., etc., you are absolutely delusional. Many in my family have already left our shores, and I will be soon to follow. This is no longer the home of the free and if you are wealthy, you have got to be out of your cotton-picking mind to stay here.
  • gary drdos1943 2012/08/12 18:43:08
    gary
    yes the IRS can throw your ass in jail. Once your non-citizen your going to need a visitor pass. You will be denied. So true Americans will stay and pay.
  • gary gary 2012/08/12 18:45:03
    gary
    +1
    ARE You A TRUE American.?
  • drdos1943 gary 2012/08/12 22:02:55 (edited)
    drdos1943
    That sounds like the Berlin Wall. You just proved my point. "True Americans" will stay and pay??? ... and how much longer will they be able to pay for those who will not work or contribute? Are you one of those?
  • Donn Wr... drdos1943 2012/08/12 20:22:52
    Donn Wright
    +1
    You sir, are the only poster on SH that I have seen that has a clue about what is coming for America. We have had a great ride, but it's going to be over soon, no matter who is in the White House. Opportunities exit all over the globe that far exceed what is left of the failed empire we were born in.

    The people who still believe that we have freedom in America are so blind it's pathetic. Do they really think the Patriot Act and NDAA 2012 were passed to protect the citizens? They were passed to protect the government when this house of borrowed money collapses.

    For those who call self preservation a lack of patriotism, just remember why this country was populated by immigrants in the first place. Remember that we fought the Revolution to gain freedom from "taxation without representation". The people of America have their heads buried so far in the sand it's pitiful.

    Many are going to wait too long to try to leave and they will be denied. The IRS has already strong armed every bank in the world into being their spies and tax collectors. Most don't know this, but if you denounce your citizenship, you will be taxed approximately 50% of your total net worth as a penalty for leaving America. One way or another, they are going to get your money.

    Land of the free and home of the brave? Not hardly.

See Votes by State

The map above displays the winning answer by region.

News & Politics

2013/06/19 21:58:55

Hot Questions on SodaHead
More Hot Questions

More Community More Originals