With evidence mounting that China ’s billionaires are scrambling to pull their money out of the country, a UK-based tax expert has said the country is paying the price for its “totalitarian” approach. And Bob Lyddon warned the world’s second-largest economy is going into “reverse gear” as Western companies begin to “disinvest”. Mr Lyddon was commenting at the end of a year in which 13,500 high-net-worth individuals are expected to leave China, according to immigration consultancy Henley & Partners. In the first half of 2023, the country - population 1.4 billion - was hit by a balance of payments shortfall of £15.4 billion ($19…
