Third, back in September 2015, millions of Chinese rushed to park their savings offshore, terrified that Beijing’s ongoing devaluation wave would wipe out the value of their financial assets. Well, it’s time for another offshore funding scramble because as the FT writes, today, “thousands of wealthy people across China are headed for the exits as President Xi Jinping secures a third term, making him and the ruling Chinese Communist party even stronger than before.”

“Now that ‘the chairman’ is firmly in place . . . I have already received three ‘proceed’ instructions from various ultra-high net worth Chinese business families to execute their fire escape plans,” Lesperance said.

https://www.zerohedge.com/geopolitical/wealthy-chinese-execute-fire-escape-plans-after-xi-secures-third-term