It is not easy to carry on life as usual in dictatorships and non-democratic countries. Although for namesake China is a communist nation, it welcomed a free-market economy and allowed people to make money like anything. In return, they were not supposed to question their government and maintain loyalty.
However, under the authority of Xi Jinping, the current President of China, the country is going on a different path in the last ten years and now after Covid, the authorities are controlling the ambitions of the super rich and discouraging their businesses and targeting them.
One example is Jack Ma, the founder of Ali Baba, who was relegated from his position and the government literally took away most of his wealth. Fearing the same fate, thousands of rich Chinese are reportedly migrating to the US, Dubai and particularly Singapore where they are now taking residency, parking their billions of dollars and shifting with their families to move away from the iron grip of communist authorities. This is creating both brain drain and financial drain in Chinese society.
