The Godfather of Emerging Markets Can’t Withdraw His Money From Bank of Shanghai

According to Taiwan media reports, Mark Mobius, a fund manager known as the “Godfather of Emerging Markets,” said that the Chinese Communist Party (CCP) is limiting capital outflows, and he personally has been affected, so he “would be very, very careful” investing in Communist China.

Mobius also said he had an account with HSBC in Shanghai. However, he can’t withdraw the money due to all kinds of obstacles that the CCP has put up. Although the CCP won’t explicitly say the bank account owner can’t withdraw the money, the bank account owner must show all records of the source of funds for over 20 years. Mobius expressed how crazy it is that the CCP set obstacles like that.

The CCP regime restricts the flow of money out of the country. From the Henan Village Bank to the Shanghai Bank, and from Chinese depositors to foreign depositors, more and more money cannot be withdrawn from the CCP’s banks, which is a sign that the CCP’s economy is in serious trouble.

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Translator: NFSC News
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