10000< of China's richest leaving china with $48 billion

China is in the dawn of the globe's second largest wealth outflow since Russian oligarchs and multi millionaires during the Ukraine war.

October 23, 2022 China's current president won another term. This gives him leverage to execute "common prosperity" which is China's communism and socialism revealing its true form. The aim is to restribute wealth from the ultra wealthy to the common group of China.

This set a lot of billionaires, multi millionaires into panic mode.

They do have massive obstacles.

First is that only 10% of Chinese have passports and also China delays applications as well as the process to apply for international visas. China bans millions of people everyday and year from leaving China and some are extradited back to china by the Chinese police in foreign countries.

Secondly is that China only allows $50,000 USD equivalent withdrawl from Chinese bank to international bank per year. Meaning someone with $1,000,000 worth of USD in Chinese banks will take 20 years to withdraw the whole amount if they never used it. Also Chinese governments are the only ones allowed to trade forex using banks. Nationals from countries like Zimbabwe are not allowed to own bank accounts in China.

Charity begins in mi casa!
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