There is always a price for promises you don't keep!
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Rich Chinese Flee, Bringing Their Wealth With Them
Most countries worry about brain drain. China is worried about millionaire drain. A new report in China shows that 150,000 Chinese – most of them wealthy – emigrated to other countries in 2011. While that number may not seem high for a country of more than a billion people, the flight of China's richest – and the offshoring of their fortunes – could cost the country jobs and economic growth, according to the study from the Center for China and Globalization and the Beijing Institute of Technology. "The private economy contributes more than 60 percent of China's GDP and it absorbs a majority of employees. So if ... (full story)