“It’s one of the largest and most rapid wealth migrations of our time: hundreds of billions of dollars, and waves of millionaires flowing out of China to overseas destinations.  According to WealthInsight, the Chinese wealthy now have about $658 billion stashed in offshore assets. And it’s not just the money that’s exiting the country. The wealthy are increasingly following their money overseas.  Wealthy Chinese buyers purchased more than $8 billion worth of residential real estate in the U.S. in the 12 months ended in March, according to the National Association of Realtors.  China’s wealthy also are pouring money into collectibles and art.  It’s also going to wine and diamonds.”

http://www.cnbc.com/id/101225781

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