Investor Mark Mobius says he cannot get his money out of China

TheDawn said:
Unless CCP comes up with some weird policies that directly impact the companies in the ADR and ETF (like how they forbade the IPO of DIDI for example), there is no impact. As long as you don't deposit money physically in a financial institution physically located inside the border of China, your money is safe.
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Nowhere close to safe. Look at what happened to holders of Russian ADRs.
 
engineering said:
Nowhere close to safe. Look at what happened to holders of Russian ADRs.
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What happens after you convert the ADR's to shares of the actual Russian company in the ADR? You can't sell those shares anymore? Or you can only sell those shares on Russian stock exchanges? And what happens when you do? Your proceeds will be held in Russia and not in the USA or your country of residence anymore?
 
eastern_warrior said:
China says otherwise and it might have been an issue with filling paperwork at the bank. Looks to be resolved

https://www.reuters.com/world/china...ittance-curbs-after-mobius-claims-2023-03-07/
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Yeah China wants $$ right now so any negative publicity that discourages potential investment into the country is going to be denied and spun. So dunno if there was really a problem or maybe a misunderstanding on Mobius' part or just some idiots at some Shanghai branch being overzealous and clueless at the same time. Shanghai is not the same as before; it's now under the total control of the CCP and doesn't really retain the tiny little bit of "free rein" to do things according to what's right and reasonable anymore I find. Just look at how the zero-covid policy was executed in Shanghai last April. It was horrible. People died, parents got separated from children, people starved and got beaten up and they still carried on. But then again, this is not unexpected. I mean if Hong Kong, that's supposed to be still protected under the "One Country, Two System" policy can even fall under the National Security Law with democratically elected legislators arrested and taken out right from the council chamber, what a little Shanghai that's completely in CCP's control since 1949 can do. LOL

Glad Mobius got his money back or at least being told he is.
 
M.W. said:
I think we can all agree on the fact that no Chinese cash buys multi million properties abroad using their and relatives' 50k quota. Very often this was facilitated in very similar ways than the hawala money transfer system that solely relies on ledgers where Chinese middle men abroad credit incoming Chinese foreign currency abroad and debit rmb in China, charging juicy profit margins. There are other ways through trade credits and invoicing that I won't go into detail because I consulted tax authorities in several countries on this in the past.

Fact is that all those methods by Chinese law and pose(d) all sorts of tax and customs issues that foreign nations abroad ironically happily overlooked in their greed to attract foreign capital. The UK, Australia and Canada are some of the biggest hyorocites in this regard. It is also ironic that China had knowledge of those practices but hardly intervened because letting the top few percent diversify and buy up foreign assets was and still is in china's interest.

As usual, leaders who sleep in the same bed with the wealthy say one thing to appease the public but do an entirely different thing, both abroad and in China. The brunt of the pain and expenses are as always shouldered by the middle class everywhere. The current foreign buyer restrictions of properties across Canada are a total joke and insult to mislead the public to believe the government has an interest in fighting further property price appreciation. The truth is that they actually want property prices to further appreciate, it's in their personal best interest. And they knew about the sharades how Chinese money entered the country for over 2 decades.
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The real question is when will the Blackface Ski Instructor-in-Chief get booted from Canadian leadership? Trudeau is a real disaster.

Amazing that no one in Canada, Australia, NZ, UK and soon US can afford to buy a house but their leaders all want to sell the country out to the Chinese. Looks like their long term plan of selling themselves to China is about come true.
 
I have raised those concerns for the past 15 years.

nitrene said:
The real question is when will the Blackface Ski Instructor-in-Chief get booted from Canadian leadership? Trudeau is a real disaster.

Amazing that no one in Canada, Australia, NZ, UK and soon US can afford to buy a house but their leaders all want to sell the country out to the Chinese. Looks like their long term plan of selling themselves to China is about come true.
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nitrene said:
Amazing that no one in Canada, Australia, NZ, UK and soon US can afford to buy a house but their leaders all want to sell the country out to the Chinese. Looks like their long term plan of selling themselves to China is about come true.
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No entirely true, no foreign buyers / investors want to buy houses in the middle of nowhere, or in a distressed high crime neighborhood. And these folks are not stupid.

Canadians own far more properties in US than other countries combined. But if you live in a city or neighborhood, you want your property value to appreciate, not depreciate.
 
A splash news few years back, an nyc developer sold dozen condo units in Manhattan to a Taiwanese buyer, fully paid in bitcoins. You can google it.
 
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