Shanghai Daily — Wealthy Chinese increasingly relocating overseas

A total of 91,000 high net worth Chinese mainlanders have settled overseas between 2000 and 2014, according to a report by New World Wealth, a South Africa-based company providing information on the global wealth sector, and LIO Global, a residence planning consultancy.

The high net worth individuals are categorized as those with net assets of US$1 million or more, excluding their primary residences. The report said most of them moved to the US, China’s Hong Kong, Singapore and the UK and changed their domicile, or permanent home.

Among the top 10 regions with most millionaires, China ranked fifth with 608,500 millionaires in 2014, with the US topping with 4.1 million. However, the number of rich emigrants leaving China’s mainland was the most among other regions, followed by India, which had 61,000 of the 226,800 millionaires relocating to other parts of the world in the same period. France was third with 42,000 outgoing millionaires, followed by 23,000 from Italy and 20,000 from Russia.

“The main reason people go for a second residence or citizenship is to ensure freedom of global mobility and access, as well as security and protection of their wealth for their families,” said Nadia Read, head of LIO Global.

The report did not provide any specific motivation for the relocation of the Chinese wealthy. An earlier survey by Hurun found that better options for their children’s education and concerns about pollution and food safety drove them overseas.
Ranking by inflows, UK was in the first spot with a net inflow of 125,000 millionaires, followed by the 52,000 to the US and 46,000 to Singapore, the report said.

UK = London. London is the center of "capital mobility".

China.org.cn

Wealthy Chinese increasingly relocating overseas

Shanghai Daily

Thomas McGath — Get Out While You Can: Why Young Americans Should Consider Moving Abroad

The 20-somethings of my generation have been marginalized by the economic situation in America. We've had a tricky time finding a place in the economy and many of us have become burdens on our families, through student loans and living costs. Now, how do we fix that?

Emigrate, if you can afford it. Millennials have a ton of education and no use for it. There are many other countries that represent a great opportunity for millennials looking to enter into an increasingly globalized work market. I'm not saying we should try to be members of an elite in other countries -- we should reject our shackles and become more worldly.

Part of that is learning a second or third language, something I thought I never would do. This changed after my time abroad in Ireland while studying at University College Dublin. I decided I was going to learn German, even though it was not the most useful of languages. Four years later, after teaching myself German from scratch, I have an operating fluency in German and now live in Berlin, where I'm working towards my master's degree. The tuition costs a fraction of what it would in America. Despite being an foreigner, I have access to public health insurance available for students at only 60 Euros a month.

How did I get here? It started with the betrayal and selling-out of our generation.…

AlterNet
Get Out While You Can: Why Young Americans Should Consider Moving Abroad
Thomas McGath

John Henley — Romania and Bulgaria: 'If people go to Britain, of course it's to contribute'

… a nervous coalition government has rushed out measures making new arrivals wait longer before they can claim benefits – and, more controversially, is calling for a wider debate on the principle of free movement within the European Union and perhaps even an EU migration cap.

Of course, immigration of labor is what is supposed to happen to make the euro work. Now that it is happening, political resistance is rising to immigration that will force wages in that country down. But employers will be happy with being able to offer lower wages and salaries. 

This is political issue especially in Britain since, while a member of the EU, the UK is not a member of the EZ. 

And, of course, emigration will further hurt the "contributing" countries since they will lose highly qualified workers to higher paying nations through this "brain drain."

But everyone knew this when they signed up for the EU and EZ, right?

The Guardian

Romania and Bulgaria: 'If people go to Britain, of course it's to contribute'

Jon Henley

The Huffington Post — The Mind-Blowing Fact About Immigration No One Mentions

More Americans have moved to Mexico in recent years than vice versa, according to government data cited in a New York Times feature by Damien Cave published over the weekend.

The data shouldn’t come as a surprise. The Pew Hispanic Trends Project estimated last year that the flow of migrants from Mexico peaked in 2007 at about 12.6 million and then began to decline slightly. A report issued by Pew on Monday noted that the population of undocumented immigrants from Mexico similarly declined from a 2007 peak of 6.9 million, to about 6 million today.

Not so for Americans, many of whom look to Mexico as a cheap place to retire or a hospitable location to start a new business. According to the Times:

Americans now make up more than three-quarters of Mexico’s roughly one million documented foreigners, up from around two-thirds in 2000, leading to a historic milestone: more Americans have been added to the population of Mexico over the past few years than Mexicans have been added to the population of the United States, according to government data in both nations.

The Huffington Post
The Mind-Blowing Fact About Immigration No One Mentions

Of course, if the emigration figures to the rest of Latin America are considered, there's a lot of emigration from the US to the South in addition to Mexico.

Frances Coppola — The zero-sum trade in people

This is an important issue in that under neoliberalism free markets, free trade and free flow of capital are promoted but not free flow of labor. This is viewed as disadvantageous to labor.

However, within the US, there are free markets, free trade, free capital flow and free flow of labor among the sovereign states of the federation. This experiment has functioned reasonably well.

Now a similar experiment is underway in the EZ, with the flow of labor being prompted by economic necessity due to the crisis. Will the outcome be comparable to the US experience, since even though the case is similar, it is very different, too. The answer has consequences for globalization under a neoliberal model.

Coppola Comment

The zero-sum trade in people

Frances Coppola

Emigration hitting Greece

ATHENS, Oct 2, 2011 (IPS) - Every working day a long queue of people forms outside the State Translation Service in Thission in downtown Athens from early in the morning. Most are youngsters processing documents they need to leave Greece for study or work. Many move on to queue later outside embassies for visas.

These are signs on the street of the emigration wave sweeping Greece. As Greece sinks deeper into economic crisis, thousands are looking for a way out of the country.

Unemployment has skyrocketed to an official 16 percent this month. Minister of Finance Evaggelos Venizelos has admitted publicly that the economy is retracting faster than feared, at a rate of 5.2 percent, and that this trend will continue into next year.

A report published by the Labour Research Institute, belonging to the General Labour Union (GSEE) of private sector workers has predicted rapid deterioration. Officially more than 790,000 are currently out of work. The real numbers are higher because many are not counted due to logistical reasons.

The young coming into the labour market are hit hardest, with unemployment of those between 15 and 29 years rising above 40 percent. This feeds the emigration wave....

 Read the rest at IPS, GREECE: Lost Generation Begins to Leave By Apostolis Fotiadis