Wednesday, September 27, 2006

Brokerage account for foreigners

Only USA citizen and green card holder are allowed to open American brokerage account. However with only one exception-Chinese!

Foreign citizens in Mainland China, Hong Kong, Taiwan are allowed to open an American brokerage account to buy USA stocks. No other foreign citizens even Japanese are allowed. I asked the brokerage firm why. They do not seems to know the answer.

I have not figured out why yet.

However, this abusolutely gives Chinese a great advantage in capitalistic world since most Chinese have strong desire to invest. They are natural born Capitalists as I have shown in previous post about longevity and forward planning.

Who dares to chanllenge conventional view or genius could become anothergenius.