26 Oct 2022: tycoons leaving China?
I saw a report seeing that rich people are leaving China because of recent stance. To me, my point is people who are innovative, hardworking and able to take risks are required to fuel a vibrant country.
Are rich people the same as the type above? Yes and no.. yes maybe they had worked hard in the past to achieve their status. No because they may have certain benefits extended to them or they are just pure lucky.
But in general, if we take away the motivating factor for people to work hard and expect them to only work based on idealism, it could be a tough sell. People who can work on idealism basically don't have material desires or they already have reached the status of ultra wealth... Those who have material desires (the bulk of them) but yet have no chance to reach a level of wealth they desire may not find the motivating factor to work hard.
As always, this should not be construed as any investment or trading advice.
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Ok