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Why China's Richest Gen-Zs Are Flocking Home

Why China's Richest Gen-Zs Are Flocking Home

FromBig Take


Why China's Richest Gen-Zs Are Flocking Home

FromBig Take

ratings:
Length:
12 minutes
Released:
Dec 12, 2023
Format:
Podcast episode

Description

China is facing the world's biggest exodus of millionaires and growing capital outflows. Yet at least one group is bucking the trend -- the growing number of ultrawealthy Chinese youth who are returning to the mainland.Rising geopolitical tensions, and the perception of increasing hostility abroad toward Chinese nationals, have led children of some of China's richest people to eschew what used to be coveted overseas jobs and foreign citizenship, and recalibrate to a life at home where the mantra is “stay humble, stay quiet." Bloomberg's K. Oanh Ha and Selina Xu explain how we got here, and how it will affect US-China relations.Read more: China’s Ultra-Rich Gen Zs Flock Home as Global Tensions RiseListen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK Have questions or comments for the team? Reach us at bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.
Released:
Dec 12, 2023
Format:
Podcast episode

Titles in the series (100)

Each weekday, The Big Take brings you one story—one big, important story. Host Wes Kosova talks to Bloomberg journalists around the world, experts and the people at the center of the news to help you understand what’s happening, what it means and why it matters. Money, politics, the economy and business, energy, the environment, technology—we cover it all on The Big Take.