On November 18, 2011, an article titled “The Most Dangerous Time Arrives: Four Groups of China’s Social Elite on the Run; All Emigrate Overseas” was published on a blog in ifeng.com, the website of Hong Kong based Phoenix TV.
The article listed four categorizes of China’s social elite who have emigrated or are going to emigrate abroad. They are those who have power (officials), those who have fame (movie stars), those who have money (private business entrepreneurs) and those who have expertise (scholars).
“Actually, China’s economy has entered into the most dangerous period of time: a drain of private capital, the collapse of manufacturing companies, a decline in the price of property, and heavily indebted local governments. … Unless China is careful, the entire economy will collapse.”
"The whole nation’s morale is so low that people want to leave.”
Source: ifeng.com, November 18, 2011