SHANGHAI: 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 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."China to deepen financial reform, open to more foreign investment
"The bottom line is that China is moving in a completely different direction than what Deng Xiaoping instituted when they started the big reform program," he said, referring to the former Chinese leader.
Heard of the story of the 5 category of horses ? The top quality is the kind that gallop away just by seeing the shadow of the whip. Obviously Mobius doesn't belong to this category.
He's a businessman and should know all before investing in China .... Its rubbish nobody advise him how to do it ....
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: STForeignDesk - 🏆 4. / 71 Read more »