With Hong Kong no longer safe, they head to places like the United States, Europe, Singapore, and Caribbean countries whose printers churn passports like so many hundred-dollar bills: Antigua and Barbuda, Dominica, Saint Kitts, and Nevis.
Wealthy Chinese immigrants can bring their technological and scientific expertise to new countries, and sometimes invest millions of dollars for the privilege.
Others, particularly Uyghurs, Falun Gong, Tibetans, Hongkongers, and human rights defenders, have a legal right to asylum due to their targeted persecution. They should be welcomed purely on the basis of ethics, which builds on the economic rationale.
In the United Kingdom, rumors are spreading of a wave of Chinese real estate buyers. That’s good for Britain, as deep Chinese wallets will boost home prices and help the building industry and economic recovery.
And who could blame wealthy and talented Chinese for wanting to leave a totalitarian and genocidal state that has undergone three years of extreme COVID-19 lockdowns, with no end in sight, not to mention Xi’s communism and nuclear saber-rattling?
The Chinese quite reasonably want to escort their families and money to freer, safer, and more welcoming climes. The United States is a country of immigrants built on exactly these principles. New anti-communist Chinese immigrants will fit right in, and if the Russians who fled the Soviets are any indication, many will eventually vote Republican.
Refugees from China are still at risk. Beijing knows they are fleeing and watches carefully for any signs of movement. The CCP’s capital controls are draconian. One misstep, for example, transferring too much money abroad at one time, or moving too many family members outside China, can trigger the seizure of bank accounts, denial of exit visas, and confiscation of passports.
Xi’s promotion of communist economic principles—including a bigger role for government and a smaller one for the market, along with his “common prosperity” push for more social services and less reliance on monetary incentives to work—will hurt economic growth and the pocketbooks of China’s middle class. To put it nicely, Xi’s overbearing political system is fueling economic doldrums, disillusionment, and unemployment.
Tech analyst Li Yuan at The New York Times has a particularly astute analysis of the perceptions driving the flight of technology talent from China. It centers on dictator Xi, who “left the private sector largely alone in his first term, when he was busy consolidating his power within the party and the military.” By the second term, starting in 2017, “Xi kept private enterprises on a much tighter leash.”
Without ranking moderates, the chance of Xi’s removal is almost zero, and the one for a return to astronomical economic growth is nearly as bad. Shortly after the congress, Chinese stocks and currency fell precipitously in value.
There is a silver lining. Xi is becoming adept at scoring his own goals. Those who love freedom can benefit by “assisting” him in this self-defeating behavior and hiring away his disillusioned team.
We can do so by facilitating Chinese scientific, economic, and political émigrés who demonstrate commitment to their new countries by successfully moving their money and families to freedom. Anything we do to speed that process is a win for justice and liberty.