- Take 125.
(paper plane crashes)
- Oh! (laughter)
- The plane has crashed.
Why do affluent Chinese want to emigrate?
Where, and why?
(upbeat pop music)
So let's talk about that, Chinese moving to North America.
Actually, what are some of the countries
that they like to emigrate?
- Well, the top three right now
are Australia-- - Australia.
- United States-- - Of course.
- And Canada. - Canada.
And Australia, Sydney?
- Yes.
- And then U.S. would be, I assume, Los Angeles,
San Francisco--
- Melbourne in Australia.
- Melbourne, New York-- - New York, LA--
- Canada would be Vancouver-- - Yes
- And Toronto. - Right.
- So why are they moving here?
And even they travel, even if they emigrate or not,
but they like to spend all their time here.
Why is that?
- I think, firstly, they just want
to see what our outside world of China look like.
I think, first, they just want to explore
and observe a little bit more--
- Okay, so as a tourist?
- Yeah, usually as a tourist.
And I think another thing is for education.
They want their kids to get better education,
and them to go to better schools,
and them to meet different kind of friends
and colleagues in the future--
- To be able to speak English. - English.
- Exactly.
- To learn a different language to be more international.
So, almost give their kids the opportunity they didn't have,
so now they can travel, they have the money now,
they can better education.
What about environment?
- Oh, health is definitely, you know when we say
environment, it has to do with health, right?
- Air pollution in China-- - Air pollution.
It's not an exaggeration when there are photos
and videos you see of people wearing masks when they go
outside, and how the pollution index is just off the charts.
And lung infections, and lung cancer
has really gone up in the past few years in China as well.
So definitely, even if they don't emigrate
to other countries, they definitely also seek
medical attention outside of China as well.
So, environment as well outside of the health factor,
it's just nicer out in the West.
You've got the mountains and waters, blue skies,
and in China, you can't even see the sky.
- [Dan] Yes, it's all dusty and gray--
- And then talk about medical care,
I have something to add to that.
I talked with an old friend about how the patient
would be treated in China.
A lot of time they told me it's actually,
you will spend probably a big chunk of your savings
toward their end dates.
Which is like, the doctor wouldn't actually
give you any suggestions other than,
do you want me to save them?
Okay, this is your options and then do this.
Yeah, whatever you want us to do, we'll do it.
- Well let's talk about even the medical system,
it's very different in the States,
like we're talk about, let's say, Canada,
which is a kind of public health care, right?
- [Jennie ] Yes.
- In China it's, here, if you're sick you
go to the emergency, that's fine, they treat you.
In China, you go there, before they
even do anything, you pay, right?
To even do a diagnostic kind of thing, right?
- Yes.
To see the doctor.
- To see the doctor, we pay.
And to get any kind of treatment, you pay some more.
- Yes.
- And they don't care if you're dying,
you don't pay, they don't treat you, right?
- And then living either like, hospital, I have
to pay for every night.
- Every night, you pay for every night.
- It's like a hotel. - It's like a hotel.
- And the more saturated cities, where people
are poorer, they don't necessarily can go
to privatized medical services.
They have to line up from midnight
just so that they can see the doctor in the morning.
And then hopefully, they can still try
to make it to work afterwards.
There's a serious lack of empathy as well
in the system in China, where it's very transactional based.
- Very transactional, very transactional.
And it's more, unfortunately, even a lot of hospitals.
Those all hospitals make ton of money.
They try to extract as much money as they could
from you or from the family.
Hey, you know what?
If you want to extend your family's life, spend more money.
Do this treatment, do that treatment, do that treatment.
On the other hand, the good thing is it's very efficient.
It's very fast.
You pay, boom.
It's done, right? - That's right.
- You wanna do a surgery?
Immediately.
- You'll have to wait a week for the exam test, yeah.
- So that's big part of it.
So health, for sure, environment we talk about the nice air.
Also, I think when they travel they see this kind
of environment with the nature, with the ocean,
with the lake, outdoor, the weather.
Wow, this is so nice, not so hot, I mean--
- Way less population.
- Yeah, way less population. - Personal space.
(Jennie laughing) - Oh, you walk down the street
there's actually nobody!
Like what is this, right?
And it's not so crowded.
Housing.
The affordability.
So if they have something in a major city in China,
like say, some kind of condo?
They sell that, they could buy nice house in here.
- [Jennie] And bigger. Way bigger.
- [Dan] Way bigger with a backyard.
With everything.
So that's big part of it.
- In terms of environment, in terms of the medical,
there's also that the money is important.
They wanna feel like, outside of that, they make a lot
of money, is it always safe to keep it in China?
And when we say safe, it's talking about maybe
you might be associated with a
government official that may be corrupt.
- Maybe go out of style.
- Now, all your assets could be seized,
government change in regulations,
all of a sudden you lose some of the money you have.
It's still a very tightly regulated government in China,
and a lot of people want to spread the money out
into other countries. - Diversify.
- Exactly, so that not everything's locked in.
- So it's like a safe haven for them.
- Right, and in part, also, if they wanna grow a business.
If they reach a certain limit in China,
that's kind of it, you know.
They might not have the established relationship
to go any further, or whatever it is.
- It's gone, or I could make the money, or--
- Which is very popular in China,
trends kind of come and go in really high and low waves,
whereas in the West, you can achieve more stability,
more sustainability, and the trustworthiness
also works a little bit different in the West,
so you feel a little bit more comfortable
spending their money, knowing that
people around them can be trusted.
- And then when they transfer their money to here,
they invest in real estate, or they might invest
in agriculture, or different companies,
and for them it's easier, quote unquote,
to make money China, but they feel like
it's safer to keep it outside of China.
So lots of millionaires just transfer a lot of their wealth,
and that's why China is regulating it.
They don't want people to transfer all the wealth
and all their money out of China.
They want to keep it within China.
Even if you look at other people who,
they invest outside of China,
not necessary for the growth opportunity,
they just want to pocket their money.
- Yes. - Right?
That's why they buy houses that they don't even live in.
- That's no different than the North American man's way.
You sometimes have another civilian sharing another island.
- So people, in Canada they make the money,
but they might have a condo in New York,
they might have a condo in Australia.
That's also very, very popular.
So healthcare, environment, we talked about money,
we talked about housing, anything else?
Why do they want to emigrate,
and what are some of the other reasons?
- I think prestige is another one,
just being able to say hey, you know what?
I'm able to go to LA whenever I want.
- I send my kids to LA, he's going to so and so school.
- I have a house in LA, I have a house in New York,
and just to be able to say that.
And safety is also another thing, as well.
In China, when you're affluent,
the affluent Chinese love to show off their social status,
but there's a danger in that.
There's kidnap your kids.
- You don't hear a lot of kidnapping in North America,
you hear a lot more kidnapping in China.
- Right, and even if you go out to certain clubs right now,
the really affluent, the kids when they go out and party,
they actually have bodyguards with them.
Whereas in Canada, Australia, in the States,
they could still have bodyguards supporting them
and protecting them, but the real concern isn't there,
like they really don't believe that there could be
something really planned to really harm them.
- Did you just see the photo?
Jack Mao walking on Wall Street,
nobody really recognized him.
He's just walking freely, Jack Mao.
Yeah, he could never have in China.
- He couldn't walk through a street
without, that's a problem.
So safety, that's a big part of it.
It's also, I think, safety in terms of China,
you don't hear it in North America,
in China, some of the wealthiest,
most successful business men,
a few years ago, one of the richest men in Shanghai
got took out by the government, put him in jail
and all of that, like overnight.
You don't see that a lot in North America.
'Cause the corporations have a lot of power.
But in China, the government has a lot of power.
If there are certain things they don't like about you,
they could take away your money
and they could put you in jail.
Unfortunately, not even for very good, minimal reasons.
If there's something involved, they could do that.
Here, you could hire a lawyer, a bunch of lawyers,
you can do a bunch of stuff, right?
But in China, there's not much you can do.
- The law actually protects you in the Western countries.
- I think that people who are successful,
the multi-millionaires in China, they don't feel safe,
'cause they know next day, this could be gone.
Or one of my friend in the government
is no longer the flavor, right?
I could get wiped out.
And it's interesting how Chinese,
sometimes they think, even if I cannot get out,
I wanna make sure my family could get out.
- Yeah.
- So they send a wife, they send the kids.
- To them it's a sacrifice.
- Yeah, I'll make the money, but you guys
make sure you get out.
So, it's a little bit interesting how that works.
So that's some of the reasons why they want
to emigrate and stay in the West.
And those are some of the reasons.
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