China's wealthy elite is increasingly making offshore moves -- surveys indicate that the Chinese hyper-rich are keenly aware that they have a lot more than their neighbors, and the government might one day decide to take it away. So money is flowing out of China, and if the Mainland one-percenters all go, it'll tank the Chinese economy.
In case you are not already familiar with Prof. Victor Shih’s theory about capital flight from China, enough capital outflow from China (US$1 trillion or more) would cause huge liquidity problems in Chinese banking system, and the wealthiest 1% of Chinese households would be enough to cause that shift of capital should they decided to leave the country, move the money away, or whatever. And that shift might be happening already (albeit rather slowly), as manifested in the slow but consistent money outflow away from China since late last year, which, as we said, is already tightening liquidity in the banking system, now necessitating multiple rounds of liquidity injection in China.
Rich Chinese flee | | MacroBusiness
(via Naked Capitalism)
An anonymous reader writes, “(Anonymous) Macedonian designers have submitted posters calling for a vote against a dictatorship on the 11th December. Their motto “#GlasamProtiv [#VoteAgainst] is an initiative by a group of Macedonian designers to topple the dictatorship that has all of us captive. Vote your will on the 11-th of December and stand AGAINST […]
Many “progressives” looked the other way while the Obama administration asserted unprecedented presidential powers, like the right to murder anyone the president feels like, anywhere in the world, using drones and other technologies; and the right to spy on everyone, all the time. Now that Donald Trump is about to inherit those powers, the Obama […]
Data journalists pulled 26,234 of Trump’s 34,062 tweets (dating from Jun 1 2015 to Nov 17 2016) from the Twitter API and analyzed them for news-sources, producing a long, detailed analysis complemented by interactive graphics.
The Black Friday Mac Bundle 2.0 is one of the Boing Boing Store’s best-selling Mac bundles yet, and it’s about to come to an end. If you don’t get your copy now, here’s what you’ll be missing:This bundle comes packing 9 top-rated Mac apps in one package, at the hugely discounted price of just $23.99. […]
The Boing Boing Store’s Gift Guide is full of ideas for pretty much anyone in your life like hipster ice cub trays, Xbox controllers, Halo Boards, and even diamond necklaces. As always, all products in the Boing Boing Store come at great discounts, too. Shop by price bucket starting at under $20. Under $20:Bloxx Jumbo Ice Trays […]
Unlike traditional lighters, the SaberLight features an electronic plasma beam that’s both rechargeable and butane-free. This sleek lighter is even approved by TSA, so you’ll never be stuck buying lighters you’ll just have to throw away partially used. For some people, like me, this is a pretty big game-changer. The SaberLight’s beam is actually both hotter and cleaner […]