Renowned investor Mark Mobius says he can’t get his money out of Shanghai.
— Marco Castelli (@macastel3) March 4, 2023
As a foreigner in China, we all know that you can’t move money easily and you need to keep all the tax records if you want to wire money abroad.
I am actually surprised he has an account here….🤦♂️ pic.twitter.com/uoSIGVpEFC
Business Insider: 'I can't get my money out': Billionaire investor Mark Mobius says China is restricting flows of capital out of the country
* Emerging markets investing veteran Mark Mobius says China is restricting capital outflows.
* He told Fox Business' "Mornings with Maria' that he couldn't pull investment funds from his account in Shanghai.
* Mobius said he's been unable to get an explanation about the "crazy" restriction.
Mark Mobius, a pioneer in emerging markets investing, said China is restricting investment outflows from the country, a move that would be taking place as the world's second-largest economy is trying to shake off pressure from COVID-19 lockdowns.
"I'm personally affected because I have an account with HSBC in Shanghai. I can't get my money out.
The government is restricting the flow of money out of the country," Mobius said on Thursday on the Fox Business show "Mornings with Maria".
"So I would be very, very careful investing in China," the founder of Mobius Capital Partners said.
Read more ....
WNU Editor: China denies there has been a change in its banking supplies .... China Says 'No Change' In Banking Policies After Mobius Claims Money Trapped (Zero Hedge). My contacts in China are also telling me there has been no change in bank policy.
Is China Now Restricting Flows Of Capital Out Of The Country?
Billionaire investor Mark Mobius says he cannot take money out of China -FOX Business -- Reuters
Investor Mark Mobius says he cannot get his money out of China -- CNN
6 comments:
Maybe its a policy directed only at billionaires who want to divest of China.
This always makes it worse and now people will scramble to get money out.
China is hanging on to foreign investment money
Got my money out 6 years ago. I would like to live there, but Xi made it harder.
Does Xi understand the multiplier effect?
It’s just amazing. 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’ve made this money,” and so forth. It’s crazy.
"Today we found out that Biden’s Attorney General Merrick Garland flew to Ukraine over the weekend. Garland reportedly worked with Ukraine to work on taking property from Russians due to Russia invading Ukraine."
LOATHESOME
Obama
Biden
Garland
...
They should win the war before trying to divide up spoils. Biden or regent Obama have not studied war. Biden/Obama are always late in giving support.
Some oligarchs have built their wealth on the backs or blood of others. When companies merged there were deaths. It would be beneficial to look into those. but that is not of immediate concern. the first would to be win The seconds would be to determine who supported Putin other than they felt they had to or else. I am not convinced that Obama and company are doing this. Is this spoils system going to work like that at the end of Ww2? I have some problems with that. Maybe the planned system is worse.
Why anyone would still be investing in China or keeping money in China is amazing.
This fire was lit in 2015 by President Trump who called out China for what it really is , A COMMUNIST country. They've been jailing and dissapearing all thier billionaires since XI showed up. He's a hard core Commie, heading into a Mao or Joe Stalin type of government.
I always thought Mobius was a brilliant investor until now. He should really have known better.
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