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Zerohedge reports that Hong Kong is quickly losing people and assets.
In an article at Zerohedge it’s reported that Hong Kongers want to leave the tiny country since China has taken over.
This is not surprising since China has now basically fully taken over the tiny country. This was done with only one or two shots fired. China used the coronavirus to take away people’s rights and totally take over the government and the country.
Once the Freest Economy in the World, Hong Kong Is Now Completely Taken Over by China
Zerohedge writes that most the people in their survey are considering leaving Hong Kong:
In mid-March, Bartra interviewed nearly 500 Hong Kong residents aged 18 and above through an online questionnaire. According to the poll, 79 percent of the respondents indicated that they are considering emigration or will consider this in the future; 48 percent indicated that it was “possible in the future,” and 31 percent indicated that they were “considering” the move.
The top three reasons for the consideration were for a better living environment (51 percent), to seek better education for their children (29 percent), and to obtain multiple foreign residence status and nationality (27 percent).
In addition, more than 40 percent of the respondents prefer investment emigration because it is simpler and more direct.
Bartra regional director Jeffrey Ling said the company received about 500 immigration enquiries in the first quarter of this year. In the past, 80 percent of successful immigration cases were professionals with stable income; and many high-income families in Hong Kong had the intention of emigrating. He believes that with the slowdown of the epidemic in Hong Kong and the cancellation of entrepreneur visas in the United Kingdom, it is expected that the number of applications to immigrate to Ireland this year will increase.
Zerohedge also reports that the number of millionaires in Hong Kong has decreased.
It is estimated that by the end of last year, there were 434,000 “millionaires” with net assets of HK$10 million or more in Hong Kong, accounting for about 7.4 percent of Hong Kong’s population, or 1 millionaire for every 13 people. However, compared with a similar survey from the same period in 2020, that number had decreased by 15 percent, or 81,000 people. The 2021 survey was conducted between October 2021 and January 2022, with 3,786 Hong Kong residents aged 21 to 79 randomly interviewed by telephone.
Hong Kong used to be the city with the most ultra-rich in the world. This has now changed.
In fact, Hong Kong was once the city with the most ultra-rich in the world.
According to the “The World Ultra Wealth Report 2018” published by Wealth-X in September 2018, Hong Kong surpassed New York, with more than 10,000 people having assets of at least HK$235 million (about $30 million).
According to the report, in 2017, the number of ultra-rich people in Hong Kong increased by 31 percent to about 10,000 people; New York is the city with the largest population of ultra-rich people in the United States, with nearly 9,000 people; Tokyo ranks third. At that time, the total number of ultra-rich people in the world was about 256,000, with total assets of $31.5 trillion.
As of 2020, New York ranked in first place with 113 multi-millionaires, followed by Hong Kong and the technology hub San Francisco in the second and third places respectively. In 2021, New York was still on the list, but Hong Kong and San Francisco had dropped off.
A big part of this is the fact that China’s billionaires are losing billions in wealth. The property market in China is hemorrhaging and this is where these people planted their assets.
Hong Kong’s wealth was closely connected to China’s prosperity and its own freedom. Now both are dwindling.
