China's wealthy spent years moving money into offshore trusts, their last safe harbor from the CCP. Now Beijing has shut that door with a new rule. Assets get taxed the moment they enter a trust, and the trust's earnings get taxed at 20% every year, whether or not the owner ever receives a cent. The video explains why the regime is doing this now: the economy is struggling, tax revenue is drying up, and squeezing the rich is the fastest fix. It also argues the move will backfire by driving even more wealth and people out of China.
China's wealthy spent years moving money into offshore trusts, their last safe harbor from the CCP. Now Beijing has shut that door with a new rule. Assets get taxed the moment they enter a trust, and the trust's earnings get taxed at 20% every year, whether or not the owner ever receives a cent. The video explains why the regime is doing this now: the economy is struggling, tax revenue is drying up, and squeezing the rich is the fastest fix. It also argues the move will backfire by driving even more wealth and people out of China.