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Could technology actually get smaller in 2021?

In the video before I ask a counterintuitive question – could technology actually get smaller in 2021 or 2022?

To subscribe and see more click here. Recent videos have discussed matters such as:

  • Will the UK bring in a wealth tax in 2021 or later?
  • What trends could we see in 2021?
  • The high street is a declining space it seems. Which industries will be growth areas next year and indeed in the next decade?
  • Argentina’s new wealth and expat tax
  • The Dow Jones at 30,000
  • Is it really true that the Japanese stock market, the Nikkei, has performed incredibly badly over time?
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  • What would I do if I was 17 again?
  • Should UK expats invest privately or through National Insurance?
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  • What’s my review of interactive brokers for expats in 2021?

Further Reading

My answer views on Quora.com have received over 215 million views over the last few years, making me one of the most viewed writers.

In the answers below I focused on:

  1.  How can somebody living in Africa invest in US stock markets? Is DIY or using an advisor better?
  2. How can somebody build wealth from the age of 18?
  3. What are some of the biggest reasons why many wealthy Chinese people invest overseas? 
  4. Why are stock markets increasing during moments of uncertainty like this?

As a preview, I have copied part of my article below

You might have read about this man recently – Jack Ma:

main qimg 40653152506b64cf22abd119407a166c

The party warned him that he isn’t more powerful than they are. Right now, he isn’t said to be in hiding, but they might move more aggressively against him.

They have made other statements of intent in recent years, including cracking down on Fan BingBing:

main qimg 7f24f7f89b51149cbf0dd0fd96646827

And Guo Wengui, who was once a mighty businessman, and is now an “exiled” billionaire:

main qimg ff2d15b921d3c309b51e3dd5c3a65e2d

Added to China’s unstable (note stable and volatility aren’t the same thing. More volatile systems tend to be more stable long-term) political system and history of social unrest, and plenty of wealthy Chinese people make the sensible decision not to put all their eggs in the China basket.

Many get foreign passports as well. In Beijing and Shanghai and beyond, there are many Chinese returnees who used to live overseas, who are living in China on foreign passports.

As China doesn’t recognise joint passports, this makes them partially expats in the country of their birth.

It makes sense on many levels, as it is a way to diversify assets and risk.

Having eggs in many baskets, with some assets in China and some overseas, will ensure they are more likely to gain regardless of the future success of China.

In addition to that, you have another issue. Mainland China’s most prominent index, the Shanghai Composite, has performed very badly since 2016.

In fact, it has been one of the worst performing stock indexes in the world.

That doesn’t mean it will always be that way. It did very well in the 1990s and until 2006, and had a good year in 2020.

Yet it isn’t perceived in the same way as say the S&P500 or Dow Jones, which have always eventually hit fresh record highs after every crash.

Taken together with the fact that the Chinese real estate market which was once hot, isn’t firing on all cylinders anymore, makes overseas diversification a sensible move even for people who aren’t ultra rich.

In fairness this isn’t a Chinese only issue. Globally most people don’t like to put all their assets in one countries basket.

That is especially recognised in countries which have had recent troubles in the last two or three generations.

I am often asked why wealthy people lose their wealth. One of the biggest reasons is complacency.

I saw it with some private business owners operating in Egypt and Tunisia in 2011.

To carry on reading, click below:


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