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Comment by haribr | Hacker News Reader

Surely a role played by Chinese Govt. Why no one talks about that?

Actually CCP is doing everything they can to stop the outflow of money. CCP wants to keep the money inside of China but not very successful. There is no rule of law in China and people with money in China want to put money in place where government can not take it away from them. As CCP tighten control, money will keep flowing out by any mean possible.

This. China has no safe place for people to save the money that they have made, by whatever means. Anywhere you put it in there, it can go away in an instant if the government wants to take it away from you. We don't understand this in the west, but whatever you have, in some countries, is fair game for people with friends in high places. It's not just China, but Russia and many other countries are like this. If you make enough money to pique the jealousy of the wrong person, You will end up in jail and your savings grabbed.

Long term it's a good thing for the money to go into western real estate. Its value in the global market is being correctly recognized. Short term it is bad for local home buyers who end up priced out of the market.

> Anywhere you put it in there, it can go away in an instant if the government wants to take it away from you. We don't understand this in the west

Divorced or divorcing men understand how this can happen in the west.

As far as I know this applies to anyone divorcing; divorce laws apply equally to spouses these days, not just to men.

That may be how the laws are written, but that isn't how they're enforced in practice.

Divorces are initiated about 70-90% by women (I've seen numbers quoted throughout the range depending on the time period and the demographics being looked at), women end up with the kids 80-90% of the time, and so on. Almost all spousal support is awarded to women. And so on.

The usual argument about the kids ending up with the mother because the father doesn't want more time with them is often offered without much questioning, but the same people that argue this would not so easily accept similar arguments to explain differences in incarceration rates between people of different ethnic backgrounds, for example.

There are severe and onerous asset forfeiture laws in many Western countries, not to mention the catch-all magic phrase of "eminent domain". If any government anywhere wants something from you, it will take it. You will not be able to outlast via the courts or whatever legal means you think are available, rather you'll likely burn all your available finances fighting it.

False comparison.

Eminent domain requires compensation.

In some of these countries your asset will be take from you and you have no remedies.

Ironically it's people trying to get money away from the CCP etc. that is driving this.

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