Shanghai and I cannot take my money out. It’s crazy. They’re putting all kinds of barriers. It’s a real problem for people who want to invest in China and then take their money out. It’s a serious issue.
Mobius went on to explain that the Chinese government has implemented severe capital controls, making it difficult for foreign investors to withdraw their money from the country. He believes that this is a major problem for those who want to invest in China, as it limits their ability to move their money around and diversify their portfolios.
The billionaire investor also expressed concerns about the Chinese economy, stating that he believes it is slowing down and that the government is struggling to manage the situation. He cited the ongoing trade war with the United States as a major factor contributing to the country’s economic woes.
Despite these challenges, Mobius remains optimistic about the long-term prospects for China. He believes that the country has enormous potential and that it will continue to grow and develop in the years to come. However, he stressed that the government needs to address the issue of capital controls if it wants to attract more foreign investment and continue to expand its economy.
The news of Mobius’ struggles to withdraw his money from HSBC in China highlights the challenges faced by foreign investors in the country. While China remains an attractive destination for investment, the government’s strict capital controls and economic challenges are making it increasingly difficult for investors to navigate the market.
