think again. According to what respected emerging markets investor Mark Mobius described, the place has become a roach motel for investors. Money goes in, but now it can’t come out.
According to Asia Financial:
In an interview on Fox Business, the billionaire, now 86, cautioned other investors to be “very, very careful” about investing in an economy under a tight government grip.
“I have an account with HSBC in Shanghai. I can’t take my money out. The government is restricting flow of money out of the country,” Mobius, founder of Mobius Capital Partners, said in an interview published on March 2.
“I can’t get an explanation of why they’re doing this … They’re putting all kinds of barriers. They don’t say: No, you can’t get your money out. But they say: give us all the records from 20 years of how you made this money … This is crazy.”
That’s expropriation, a communist specialty, whether the Chicoms are going to admit it or not. Not letting someone get their money out is the same as keeping it, stealing it, helping oneself to it. Why they would do this to a famous investor with a big global audience to let the other investors know is something of a mystery, this is tremendously bad public relations for them, but based on their other actions, it seems as though at this point they don’t care. Already we know they’re getting mean, what with their crazed COVID lockdowns, which drew tremendous popular protests, their stepped-up spy activity against the West, their machinations in Latin America, their intimidation of their neighbors, particularly Taiwan, and their massive military buildup. Today they announced that they’d ramp up their defense spending 7.2%.
