Monday, 24 November 2014

Fact of the Day: Get Rich is Glorious... then Emigrate

Back in 1992, then paramount leader Deng Xiaoping made his famous southern tour visiting Shenzhen, Guangzhou and Zhuhai, where he reportedly said, "To get rich is glorious!" (致富光荣! zhi4fu4guang1rong2).

And millions of people in China took this literally, creatively finding ways to make their wealth.

But now that the uber rich have made their money, they want their kids to get the heck out of motherland.

According to the Hurun Research Institute based in Shanghai, about 80 percent of mainland tycoons want their children to study abroad.

This compares to 1 percent in Japan and 5 percent in France.

Of the Chinese tycoons surveyed, 30 percent want to send their brood to the UK for primary education, while 36 percent want their children to go to the United States for university.

Sounds like they don't mind their kids having a mixed-up British-American accent...

The report added overseas education was the main reason why tycoons wanted to emigrate.

Sounds like lots of money flowing out of China, apparently for better education...

The report doesn't ask if the tycoons want their children to come back to China after their studies, but the results of that question would also be very telling...

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