Mark Mobius has said he cannot take his money out of China due to the country’s capital controls
, cautioning investors to be “very, very careful” about investing in an economy under a tight government grip. “I have an account with HSBC in Shanghai. I can’t take my money out. The government is restricting flow of money out of the country,” Mobius, founder of Mobius Capital Partners, told FOX Business in an interview published on March 2. “I can’t get an explanation of why they’re doing this … They’re putting all kinds of barriers. They don’t say: No, you can’t get your money out.
Mobius led emerging market investment at Franklin Templeton Investments for three decades and is known for his bullish view on China. Now, though, he said, he “would be very, very careful” investing in the country. “The bottom line is that China is moving in a completely different direction than what Deng Xiaoping instituted when they started the big reform program,” he said, referring to the former Chinese leader.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire investor Mark Mobius says he cannot take money out of China -FOX BusinessBillionaire investor Mark Mobius told FOX Business he cannot take his money out of China due to the country's capital controls, cautioning investors to be 'very, very careful' about investing in an economy under a tight government grip.
Read more »
Ultra-rich sports stars are about to change the money game: Athlete investor PatricofThe Boston Celtics' Blake Griffin and tennis pro Sloane Stephens talk to FOX Business about their partnership with a firm that's changing the sports world with smart stakes.
Read more »
Austin investor embroiled in FBI investigation of AG Ken Paxton faces jail timeAustin investor Nate Paul is being punished for ignoring a civil court order, then lying...
Read more »
Multicoin Capital’s Hedge Fund Lost 91.4% Last Year, Investor Letter RevealsSCOOP: Multicoincap's hedge fund lost 91.4% in 2022, according to the firm’s annual letter to investors. The firm took steps to “mitigate counterparty risks” and set up a side pocket for assets impacted by the FTX bankruptcy. 0x_tracy reports
Read more »
Eurozone Sentix Investor Confidence Index worsens to -11.1 in March vs. -8.6 expectedEurozone Sentix Investor Confidence Index worsens to -11.1 in March vs. -8.6 expected Eurozone Sentiment EconomicIndicator EURUSD Recession
Read more »
Euro zone investor morale unexpectedly falls in MarchInvestor morale in the euro zone fell unexpectedly in March for the first time since October, dragged down by a decline in expectations as the usual spring revival of the economy is in danger of being short-circuited, a survey showed on Monday.
Read more »