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Mark Mobius was outraged by the Chinese move: the billionaire investor could not withdraw his money

Mark Mobius was outraged by the Chinese move: the billionaire investor could not withdraw his money

Mark Mobius warned investors about this Invest very carefully. In an economy tightly controlled by the government.

I have an account with HSBC in Shanghai. I can’t withdraw my money. The government restricts the flow of money out of the country

Moebius said in an interview with FOX Business.

I don’t get an explanation why they would do that…they put all sorts of obstacles in front of me. They don’t say you can’t withdraw your money, they say, give me all the records from the last 20 years of how you got that money…that’s crazy.

The paper notes that Mobius has led Franklin Templeton’s investments in emerging markets for three decades and has always been optimistic about Chinese investments so far.

According to him, this is not a good trend at all when the government buys companies and tries to control everything. On the other hand, “Indiana Jones Emerging Markets Investments” (as Mobius calls himself) sees good investment opportunities in India and Brazil.

An interview with the investor was previously published in Portfolio columns:

Cover photo: Ákos Stiller, Portfolio

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