• LarkinDePark@lemmygrad.ml
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    4 months ago

    What exactly is prompting the emigration though?

    I don’t believe this:

    Uncertainty over China’s economic trajectory and geopolitical tensions are top of mind for many Chinese millionaires

    • besbin@lemmy.ml
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      4 months ago

      Well, you just need to read between the lines there.

      uncertainty over China’s economic trajectory

      Read: uncertainty over ability to continue exploiting labors using your accumulated surplus

      geopolitical tensions…

      Read: closing window of opportunities to freely move your accumulated surplus elsewhere

      This is just like those immigrated nobles running from liberal revolutions in the past.

    • nekandro@lemmy.ml
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      4 months ago

      Being wealthy in the US/UK/Canada is so much better than being rich in China because the marginal advantage is substantially larger

      In China? You still take the train. Transit is probably still faster than driving. Your food expenses don’t scale as fast because cheap food isn’t made of garbage. You already likely own a home. You probably come from a tier 1/2 city, so traveling domestically is cheap. Your kid still has to grind for gaokao.

      In the US? You fly business. You drive around in your S Class. You can bribe infinite extracurriculars for your kid to get into a top university. You basically never have to interact with anyone in the lower 90% of incomes, and you don’t need to be THAT wealthy to do so.