Kushners tap China’s $24B ‘golden visa’ market

1124
SHARE

To be sure, those migrating make up only a small fraction of the around 18 million households that could be considered upper-middle-class or wealthier in China, but they echo the laments of many better-educated, urban Chinese.

“Middle-class investors’ choosing to leave shows that their confidence in their future, their dreams and the regime in China is fading,” said Zhang Lifan, an independent political scholar in Beijing.

China’s “golden visa” investors are part of a wave characterized not by poverty, persecution or war, but by people with steady jobs and homes who are pursuing happiness that’s eluded them in their homeland.

After decades of economic mismanagement and political upheaval, the ruling Communist Party reversed some of its most destructive policies and unleashed a four-decade-long economic boom in the 1970s. That growth lifted 500 million people out of poverty and vaulted generations of Chinese from peasantry into relatively well-paying manufacturing or service jobs. More than 3 million households in China now have an income of more than $34,000 a year, according to the consultancy McKinsey & Company.