Quote from Ghost of Cutten:
Property costs in Monaco are not too much more than central London or Manhattan, and HK/Singapore are comparable. You can get a decent singleton place for about 30k a year rent. Given that most liveable metro centres cost at least 15-20k a year for a proper apartment, you should just view it as an extra 10-15k a year 'tax'. If you can't afford that then you are not making enough for it to be worth becoming a tax exile.
21% is a pretty good rate, depending on the quality of government services. If you are in a 1st world country then that is good actually, in fact it is a bargain in order to get political stability, working utilities, reasonable policing and courts, a semi-competent government etc. Most of the G7 takes 35-50% of GDP in taxes, and high earners can end up paying 60-70% on their total income, once sales taxes/VAT are included. I would not go through the hassle and downsides of expatriation just to save 21% (and even in 0% tax countries, you still pay sales tax). Remember you will also probably have some long-term capital gains at lower annualised rates, and deductions like pension contributions or tax-breaks on savings accounts etc. For example, rich people living off capital gains in the USA pay a mere 15%. HK/Singapore is 16% flat tax. It's not worth moving full-time to boring holes like Monaco or Bahamas just to save 15-16%.
If you trade full-time, capital gains will often be taxed as income, which is usually a much higher rate.
The best tax wheeze is moving to countries which don't tax foreign-source income, and then trading the non-local exchanges from there. MANY countries give 3-5 year initial periods for non-citizens, where they don't tax foreign source income at all. Just off the top of my head, UK, Colombia, Ukraine, Philippines, Romania are all like this. The major cities in these places are far more interesting locations to live in than the conventional tax havens like Bahamas or Monaco, where there is basically no social life of any interest and you will get bored in a few months. Once your 3-5 years is up, move to another one.
Many other countries, especially outside the first world, do not tax non-resident corporations, even if you are a resident of that country. So you simply set up an offshore trading co and voila, tax-free compounding. Use your savings for living expenses and you are in a de facto tax haven.
You should not base your location on where the economic future is, but on where the best quality of life is for you today and in the near-future. Your after-tax income is only part of that equation. By the time China is even at half US GDP per capita, you will be old and most of your life will have passed by. You could live an easy life in Bahamas, or hang out with Eurotrash and racing drivers in Monaco, but good luck trying to do anything interesting there except get drunk, fuck gold-diggers, and top up your tan.
For most 1st world residents, the best place to live is the country they grew up in, where there friends and family are, where they are familiar with things. Recreating a social network from scratch is an arduous task, and even if you do it well, it's not as good as putting in the same work to improve things in a place where you already have a network. You know the system, the language, the culture, and the places in your home country, all that knowledge disappears when you go abroad. Even moving from USA to Canada, or UK to Ireland, or Australia to New Zealand, is quite a big change and significantly disadvantages you in many ways.
IMO long-term expatriation is only worth it under the following conditions:
i) you live in a shithole 3rd world country and can't have a good life there, even if you work hard
ii) you live in a reasonable 1st world country, but your profession is taxed at punitive rates such that you cannot hope to achieve financial independence (e.g. Scandinavia with 50-70% tax rates on self-employed high earners), and you cannot use tax reduction methods such as pension contributions, low-taxed savings accounts, or corporations to pay a more reasonable tax rate
iii) you want to live somewhere abroad for a year or more for its own sake (e.g. you like travelling or the expat lifestyle, you are single with no kids, some of your friends are going abroad to work etc)
iv) you have a spectacularly hot and interesting non gold-digger girlfriend(s) in some low-tax (for expats) jurisdiction like Russia/Ukraine, Colombia, Romania, Bahamas, Phillipines etc, and want to see if things work out when you live close by or together, before considering a visa marriage or relocating her back to your home country. Odds are against this working, and you can have a problem if it doesn't work out, but it can be fun to try. The downsides of 3rd world living are ameliorated significantly if you have some prime pussy to assist your transition, and help with translation, local knowledge of the best nightlife and leisure spots, getting deals at local prices instead of ripoff foreigner rates etc.
I thought debt was socialist. 
You can trade all markets