More rich Chinese are leaving China, a feature that is triggered by economic basics, tells business analyst Shaun Rein in NPR’s marketplace. Slowing economic growth mean that high-growth opportunities are elsewhere.
Shaun Rein: The days where China’s going to be growing ten, twelve percent a year are limited. And so people are now looking for diversification of income streams. For instance, I recently interviewed one of the largest real estate developers in China, and he’s now looking at building more complexes in Taiwan and the United States because he thinks he’s just not going to get the returns in China he’s enjoyed in the last decade.
Rein says rich Chinese investors aren’t only moving their money to the U.S. They’re moving themselves — and their children — out of China, too. Pollution, dismal healthcare, and a weak education system are pushing them out just as much as a sinking currency.
Shaun Rein is the author of “The End of Cheap China: Economic and Cultural Trends that Will Disrupt the World“. More about him at his book at storify.
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