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China has always been a driving force of Bitcoin investment and price speculation. By the look of things, that trend will only intensify over the next few decades. Recent polling shows over six in ten rich Chinese people plan to invest abroad. While there will be a large focus on real estate properties, alternative financial solutions may gain more traction as well
It was only a matter of time until rich Chinese investors decided to look elsewhere for their fortune. Domestic investment opportunities are difficult to come by and offer very low profitability. Properties abroad seem far more appealing to sixty percent of China’s rich people, mainly in US cities.
More Chinese Capital Outflow On The Horizon
The ongoing depreciation of the Yuan is the driving factor for this outflow of funds. So far, the Chinese national currency has lost 10$ of its value against the US Dollar since the Summer of 2015. This trend will probably continue for an unknown period, which worries investors. Looking for greener pastures is normal when finances are involved.
But other concerns are plaguing China as well. The local housing market is showing signs of a bubble waiting to burst. If that were
Read more ... source: NewsBTC USA
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