Qi，Bo ：What does China’s billionaire immigrant exodus show？
齐波（Qi，Bo）
According to an investment immigration consulting firm, about 10,000 high-net-worth Chinese billionaires will migrate out of China in 2022. Experts say the exodus of people and money will accelerate China＇s social crisis. So why do these rich people emigrate in large numbers? China is now emphasizing the need to make state-owned enterprises bigger and stronger; and promote the advancement of the state and the retreat of the private sector. It regards private enterprises as a threat to the CCP’s public economy, and finally decided to use violence to suppress the wealthy. This is the main reason. The CCP also promotes common prosperity, which is to use laws, taxes, etc. to cut off the leeks of the rich, including the middle class, which makes the entire rich and middle class feel an unprecedented panic, that is, they feel that their property security is no longer guaranteed. " The CCP’s policy of closing cities and eradicating them can be said to be an important trigger for the mass exodus. During the implementation of the policy of closing the city and clearing the city, China’s deprivation of basic human rights, such as using words to replace the law, has made many people feel that their wealth and personal safety are not guaranteed, and this has caused serious anxiety and dissatisfaction among the rich against the Chinese government. trust. To obtain more dignified living conditions and a legally guaranteed living environment for themselves and their descendants, they decided to immigrate overseas. Because they realize how vulnerable their assets are in the face of power, simple epidemic prevention policies can deprive them of their personal freedom, basic livelihood, and human rights. The most fundamental reason is that they have lost confidence in the current system. In the short term, concentrated immigration of wealthy groups will take away a large amount of wealth quickly. The rapid transfer of foreign exchange assets in the short term directly impacts the foreign exchange system and even foreign exchange security, shaking the foundation of foreign exchange. In the medium term, as many assets are transferred, the investment and employment opportunities for mainland enterprises will also decrease rapidly. The inevitable result is that the gap between rich and poor in mainland China will widen. In the long run, the brain drain of key groups will lead to a lack of innovation and intellectual resources in the whole society, and the development of society will be obviously restricted or even declined. If a society＇s wealth and intellectual elite groups are both lost, it means that this society will have a crisis.
Qi，Bo
May 30,2023
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