Romeo Full Staff

The Wealthy in China are Turning to Underground Networks to Move Cash out of Country


China’s economy is so uncertain that the wealthy are turning to an underground network to secretly move cash out of the country Phil Rosen Oct 9, 2023, 2:17 PM EDT Some wealthy citizens in China are turning to underground money handlers to move cash, Bloomberg reported. Moving money through these quasi-banking systems is risky and can result in jail time.  Some Chinese underground banks settle transfers using funds generated by criminal groups, the report said. China’s economy has endured broad headwinds over recent months stemming from its troubled property sector and the lack of post-pandemic rebound. According to a Bloomberg report on Sunday, wealthy Chinese citizens…

This content is for Q17c Membership, Classified Membership, and LifeTime Patriot Membership members only.
Login Join Now
QNavy is a pool of 3 former Navy Officers, U.S. Navy & French Navy, who served proudly their countries, specialized in conflict analysis as per their respective skills & experience on Special Ops. #NavyVetUnited

“If Iraq Joins BRICS” – MarkZ Evening Intel Stream Highlights 10-12-23

Previous article

Commodity Insights: Dollar Wrecking Ball, Major Trouble Ahead for US Dollar, High-Grade is Everything, What Comes Next

Next article

You may also like


Comments are closed.