Mark Mobius, executive chairman at Templeton Emerging Markets Group, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian
SHANGHAI, March 5 - Billionaire investor Mark Mobius told FOX Business he cannot take his money out of China due to the country's capital controls, cautioning investors to be "very, very careful" about investing in an economy under a tight government grip. "I have an account with HSBC in Shanghai. I can't take my money out. The government is restricting flow of money out of the country," Mobius, founder of Mobius Capital Partners, told FOX Business in an interview published on March 2.
"I can't get an explanation of why they're doing this ... They're putting all kinds of barriers. They don't say: No, you can't get your money out. But they say: give us all the records from 20 years of how you made this money ... This is crazy."Mobius led emerging market investment at Franklin Templeton Investments for three decades and is known for his bullish view on China. Now, though, he said, he "would be very, very careful" investing in the country.
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Chinese communist party is crime syndicate. GordonGChang explains that companies investing in China will never be able to get their money out in USD. They can only reinvest profits back into China. Except Hong Kong? CCPChina
This is illegal Never trade with China dictatorship BoycottChina
It's morbin time
Expected. He should have known the current economic condition of CCP China under the 'wonderful' leadership of Xi
Chinese people can remit up to $50,000 per year, and there must be a reason for remittance. This kind of foreign exchange control should be considered before foreign capital enters China. One day you will be restricted from remittance
That would be the norm while you made your investment there.
Mark Mobius has now become one of the financial refugees in China. 😰 金融难民 MarkMobius
I read about whole minute to figure it out, that it is not China-Fox Business.
Ok, so he can lose it and back hone without supporting China regime. Your money will kill american soldiers in the future. Choose what is better?
Haha haha well I am sure there’s way too many billionaires who won to invest in China because it’s a place where Biden isn’t president
Price!
To him, the only thing I can say is congratulations. He knows nothing about China but suggests investors invest in China🙄.
This guy has a supervillain profile.. even down to the name.. where is his hollowed out volcano that he lives in?!?
Did he fail to do homework beforehand?😂
Try BTC
As a matter effect it is possible, go to China in cheap clothes, but you have to buy every time you visit China to dress yourself in expensive clothes, when you are back you can selling your expensive clothes 🤪, and so you will get your money 😅
And now you pay the price lmao
Why invest in China? All frauds.
Thinker_View Et alors ? bichette
In 2013, Hong Kong invester SR ka shing Li started pull out his investment
Anyone who invests in communist China or fascist Russia deserves to lose all the money.
World economies are so convoluted and tied together, with shell companies and proxy business names, that even if he said he would I would sincerely doubt that he could.
Everything made in China, stays in China ;) Order your businessplan with me. Involve great strategies.
play stup!d game win stup!d prize
How many people invested in China because of him
because war preparations are starting?! Thanks to the Biden administration for starting the third world war!!!
Who?
tell this to globaltimesnews during their TwoSessions. American billionaires can't cashout his chyna dream. Remember when HK-owned LME_news canceled all the nickle trades so they could bail out their own chynese billionaire?
Mobius Capital operates in China for 2 decades & yet couldn’t sense that it’s not a safe heaven nor a tiny island state where you can get away any day any time. It should left the shore many years ago & now it can’t with the risk of losing all earned money in china
It’s an open secret how the Chinese regime operates & treats no just its people in China including top businesses, entrepreneurs as well as foreign investors & people.
A big risk to national security
hmm, I thought this is what those uber-expensive luxury home rentals for - a way for siphoning money obtained abroad via rich foreign visitors who have made a deal of bringing the money into the country through 'rent'
Because you are sanctioned!
This the cost of believing in a socialist dictatorship!
Oh what a pity. Poor Man.
🤣 No one can
Mobius needs to make a deal with someone in China, who has liquid assets outside the country and pay them in China and receive his cash elsewhere. It's not a complicated transaction. * Small fee payable *
That doesn't sound all that bad to me. Maybe bad for capitalists, like Mobius, but I'm fine with that. It's probably better than the government letting corporations kill people and doing little to nothing about it.
Tough luck🤨
Thank you Reuters for proving beyond a shadow of a doubt, that you are just Communist stooges for the People's Republic of China. Reuters = credulous stooges of the WEF!
Here is the irony. HSBC was created just before the start of the Opium war to funnel money out of China.
NY
Lol good
He has finally figured that out.
He doesn't have to
Then y invest in first place 😐
And why are Western billionaires not called oligarchs like Russian billionaires who also happen to not be able to take money out of the West?
so now hes bullish on india , so hes cautioning everyone about china ?
'Billionaire Mark Mobius'? This is a DC villain, surely?
I have no problem
It’s mobin’ time
Shocking!
Why is he surprised ?
Power of China and defeat of west
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