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How Tokyo became an unexpected haven for China’s middle class - FTwww.ft.com/content/ab9b38a7-7c7f-4177-808a-45b4d2b2aceb
236 sats \ 4 comments \ @Scoresby 7 Sep news
Chinese immigration to Japan is increasing. Lots of interesting details in this FT article.
Interesting few paragraphs on how Chinese immigrants are trying to move their money out of China. Does not mention Bitcoin or stable coins or any kind of crypto.
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102 sats \ 0 replies \ @OT 7 Sep
We have an old friend who had been saving USD in his HK bank account for many years. He recently decided to buy an apartment in Tokyo.
I think they make it quite difficult to get money out of the mainland in a hurry. Everyone is allowed up to $50k USD and I hear some use close friends and family members to help with the transfer. Bitcoin still likely not on the average wealthy Chinese radar.
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0 sats \ 2 replies \ @brave 7 Sep
It's paywalled so I couldn't read it. Most immigrants will use Bitcoin and stablecoins, given how often those are used to bypass capital controls globally.
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0 sats \ 1 reply \ @Scoresby OP 7 Sep
Archive link at the bottom of my post is not paywalled.
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0 sats \ 0 replies \ @brave 7 Sep
Just read it, it did touch on a lot. Discussing more about the Run-ri, a term for a wave of middle-class Chinese migrating to Japan.
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