ANALYSIS: China’s Wealthy Fleeing Amid Economic Downturn, CCP’s Clampdown on Capital Flight

News Analysis
China’s rich are fleeing the country at an increasing rate, transferring large amounts of their assets abroad to avoid being targeted by the Chinese Communist Party (CCP) amid the economic slowdown.
CCP leader Xi Jinping has been invoking the concept of “common prosperity” to push for the so-called fair redistribution of wealth. In reality, some China observers contend that the regime is seeking to acquire the assets of wealthy individuals, attributing this strategy to the downward spiral of the Chinese economy.
‘Economic Situation Is Quite Bad’
Mike Sun, a U.S.-based investment strategist and China expert, told The Epoch Times: “I don’t have confidence in him [Xi Jinping]. The Chinese people generally lack confidence [in China’s leadership], resulting in people just wanting to leave the country.”…