The Chinese government has been acting to restrict travel outside the country by ordering some teachers, civil servants and executives of state-owned enterprises to hand in their passports.
…and…
Hong said the CCP is also worried that as people’s confidence in the economy slows, they will become less loyal to Xi’s regime and China’s system, and that personnel and capital will flee the country.
Won’t this action by the CCP actually accelerate the rate at which people leave? If they currently have a passport and are seeing people they know get their passports seized, those still with passports might choose to leave now while they still can even if they hadn’t considered it before.
You’d think, but maybe not. One thing that China does is it’s really strict on not letting people bring money out of the country. I have friends that have money back home that they can’t get out of the country.
The main reason for that is that when the gov’t opens that up, billions start flowing out of the country really fast. So, if you leave, you’re leaving your money behind.
You’re referring to capital controls, and yes, China has strict controls on how much money you can move out of the country. I’m referring to people themselves. If you have a valid passport right now, you can still get yourself out legally. Most of your money may have to stay behind, but that could be worth it for many situations.
I disagree, their parents went through so much worse and they saw China rise, the belief is if they can stick through just a little they might find a new opportunity, or maybe things will just work out.
Also they don’t think things are magically better elsewhere, so maybe it’s just that.
For us the price might not make sense, but I understand if it does to them at least.
I’m not sure what you say you’re disagreeing with.
I’m saying a portion of the population with still valid passports may choose to leave because of these new restrictions. Are you disagreeing and saying “not a single person with a valid passport will choose to leave China forever”?
…and…
Won’t this action by the CCP actually accelerate the rate at which people leave? If they currently have a passport and are seeing people they know get their passports seized, those still with passports might choose to leave now while they still can even if they hadn’t considered it before.
You’d think, but maybe not. One thing that China does is it’s really strict on not letting people bring money out of the country. I have friends that have money back home that they can’t get out of the country.
The main reason for that is that when the gov’t opens that up, billions start flowing out of the country really fast. So, if you leave, you’re leaving your money behind.
You’re referring to capital controls, and yes, China has strict controls on how much money you can move out of the country. I’m referring to people themselves. If you have a valid passport right now, you can still get yourself out legally. Most of your money may have to stay behind, but that could be worth it for many situations.
The problem is: People know if they leave, their money will probably be taken.
They’re gambling with their lives, but that’s a fair gamble for the stakes.
The old adage applies: “Your money or your life”
Depending on what they think their future holds, leaving all their money behind may be a very very small price to pay.
I disagree, their parents went through so much worse and they saw China rise, the belief is if they can stick through just a little they might find a new opportunity, or maybe things will just work out.
Also they don’t think things are magically better elsewhere, so maybe it’s just that.
For us the price might not make sense, but I understand if it does to them at least.
I’m not sure what you say you’re disagreeing with.
I’m saying a portion of the population with still valid passports may choose to leave because of these new restrictions. Are you disagreeing and saying “not a single person with a valid passport will choose to leave China forever”?