The signs of a hard landing of the Chinese economy are getting easier to read.
In a recent study by Bain, a consultancy, and China Merchants Bank, more than 60% of China's high net worth individuals have already left China or are planning to emigrate.
Further, the newly acquired wealth of these entrepreneurs is leaving as well. The more than $2 trillion that has been sent overseas since 2000 could be more than the total amount of foreign investment into China in the past ten years.
If things are so good in China, why are the wealthy there bailing out?
Maybe it's because things are actually lousy, getting worse, and have been so for the past two years.
Most "experts" missed Japan's bust by 24-36 months and the same appears to be happening here.
Follow the money...