More than half of China's millionaires are ready to leave the Middle Kingdom.

When it smells fried, the rich run to the airport

Another survey by the Chinese insurance company Allianz shows that the rich are losing confidence in the domestic market and are trying to line their pockets with cash rather than investing in stocks, real estate and investments at home. Sales of luxury goods in China are declining, but investments in expensive real estate abroad are on the rise.
"Officially naked" is the term coined in China to refer to an official who periodically sends his family on vacations abroad and keeps his money in foreign banks. And the number of such officials is constantly growing. Chinese law enforcement authorities say that about 19,000 officials, including heads of state-owned enterprises, have been caught in the past 12 years trying to cross the border with money obtained through dishonest means.

The Chinese turn off the air conditioner and the world economy gets cold.

China's port warehouses are flooded with coal. Entrepreneurs and citizens are trying to save money on their energy bills, and production cuts have contributed to lower demand for coal. Since late last year, the state coal price has fallen by 10%, which negatively affects the global economy and, in turn, reduces demand for Chinese exports.

Food price hikes

Egg prices have jumped so fast that buyers are now calling them "rocket prices. Last year, pork prices soared 57% in response to China's growing appetite for meat dishes, but in the past four months, demand has not increased. Chinese consumers, shaken by a shaky economy and unsafe food products, prefer to grow their own food.

According to the foreign press for ForTrader.ru