China\u0027s economic problems and tough COVID measures have more and more Chinese people longing for Canada
The regime’s harsh zero-COVID restrictions are causing bitterness and anger.
Canada is a big draw. The Migration Policy Institute found two years ago that Canada was the third most-popular choice for Mainland’s China’s migrants. That was before this summer, when China’s real-estate sales dived by 59 per cent compared to 12 months earlier., which surveys the desires of high-net-worth Chinese, has found their No. 1 choice for a country to move to is Canada.
While many Chinese are no doubt happy to stay in their country of birth, many are seeking another shore because of intense frustration over the country’s COVID-19 restrictions. One of many notorious cases centres on billionaire Xiao Jianhua, a Canadian passport holder who disappeared after being abducted in Hong Kong five years ago. He is now apparently facing a secret trial in China.
The U.S. Federal Reserve has expressed concern the dramatic downturn in China’s housing market will spillover into Western economies, as many Chinese citizens’ debt grows and an economically weakened China is forced to retrench. The vacancy rate in major Chinese cities isMany Chinese nationals who have held onto their assets and wealth are looking elsewhere to invest, even as their leaders make it a challenge.
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