Summarised by Centrist
Wealthy Chinese individuals are fleeing the country in droves, with many taking their billions to safer havens like the Gulf or Japan.
Why?
Xi’s policies make China intolerable for its entrepreneurs, as his mistrust of successful business figures and failure to address economic stagnation create a “get out fast” situation.
While China claims to be implementing economic reforms, its actions tell a different story. Xi isn’t focused on domestic prosperity but instead pours resources into military expansion and surveillance, much to the benefit of allies like Putin in Russia and Kim Jong Un in North Korea.
Meanwhile, China’s trade relations with the West are deteriorating, as the country’s electric vehicles (EVs), much like Huawei’s products, are seen as potential security risks due to their ability to transmit data and even be sabotaged.
Western democracies face a tough choice: do they continue importing Chinese goods, which could be “Trojan horses”, risking their own security, or tighten sanctions to counter Xi’s ambitions?
