Money is flowing out of China at unprecedented rate, according to a Bloomberg index that tracks the flow of capital. In August, an estimated 141.6 billion dollars came out of China, beating the record set on July of $124.6 billion.
Barclays reported that from mid-July to early September, China’s capital outflow reached over $300 billion.
Earlier this year, Goldman Sachs’ Robin Brooks estimated that China’s capital outflow would reach its highest point since the beginning of financial records, breaking $224 billion.
Lombard Street Research’s Charles Dumas said that China’s capital outflow totaled $800 billion this past year, a staggering sum. China will work to fight large capital outflow in the next year.
Source: wenxuecity.com
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Keywords: China Goldman Sachs China capital outflow China money
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Is this really surprising? They lowered the value of their money and it is expected to be lowered again because it was not enough. The extremely rich lost millions and you think they want to lose more? China continues to shoot itself in the foot with their barbaric policies and mistreating foreign investors. They artificially raise the cost of living by setting retarded cultural rules (need a house and car to marry) and by keeping the price for cars, homes, electronics and imported goods ungodly high. This forces workers to demand higher wages which inturn is leading to an exodus of manufacturing companies.
Oct 06, 2015 16:25 Report Abuse
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