Last Friday, September 23rd, Congressman Chris Smith, Chairman of the Subcommittee on Africa, Global Health, and Human Rights (Committee on Foreign Affairs) held a hearing on Chinas One-Child Policy. The same day the Washington Times carried an article by Louise Watt (Associate Press) talking about whyChinas moneymakers are interested in leavingChina. The story contained the amazing statistic of the 20,000 Chinese with at least $15 million in individual assets, 27% have already emigrated and 47% are considering it. The source of this statistic was a report by China Merchants Bank and U.S. Consultants Bain & Co. published in April. Shouldnt these people want to stay given their success?
There were a number of reasons given for this lack of enthusiasm for remaining in China. They included the following: 1) the test-centric Chinese educational system; 2) the desire to live in a place with better health care; and, 3) the objective of preserving their assets and preparing for retirement. Also of interest to these Chinese was having more children and making it easier to develop overseas business. (emphasis added)
This is fascinating: the communist state cannot even relax the rules suppressing family size to accommodate the business leaders who are making the economy grow.