Out of 10,000 high-net worth immigrants to Australia (10,000!) — those bringing in AUS$5 million or more — 9,000 are from China.
As an Aussie Chinese friend says "that's good and bad".
Yin yang. One divides into two. 一分为二. Balance....
Go into a Chinatown anywhere in the world. Have a meal. Buy some goodies at the Chinese deli. You're welcome. You're at ease. Same at the Little Saigons or whatever they're called. In Sydney one in Cabramatta suburb is known as "Vietnamatta". Again, you are welcome. You're at ease.
By contrast try going into the "Islamtowns" (what do we call them? "Shariaburbs"? "Muslimattas"?), in Tower Hamlets or Birmingham, or western Sydney. I've been. You are definitely not welcome. Not even as a clean-shaven man. Let alone an unveiled woman. That's a difference. Not all migration is equal. Not all cultures are equal. You don't need to go to racism. Different culture will do it. Different cultures will give you uncomfortable and unwelcoming environments.
So, me, I don't mind at all the "Chinese invasion" of Oz. Though for sure there's valid concern about the upward pressure on house prices. Maybe something like we have here in Hong Kong could be instituted in Oz: namely restrictions on foreign property ownership. Higher sales taxes, duties, limits on numbers and so on.
Here in Hong Kong that "foreign" includes Chinese from our motherland aka "the mainland". If we can do it, why not Oz? And add into that a tax on unoccupied properties, one of the big and valid concerns being millionaires buying property and never living it.
/Snip
Australia was the world's No 1 migration destination for millionaires last year, according to the 2018 Global Wealth Migration Review from AfrAsia Bank. More than 10,000 high-worth individuals migrated to Australia last year, mostly from China, India and the UK. And about 90 per cent of the visas Australia issued to high-worth investors – those who invest more than A$5 million (US$3.6 million) locally – were for Chinese nationals.
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