There are literally two economies - the one most people live in, and the asset owning economy which deals exclusively in land, property, resources, and shares.

The health of an economy is defined by the permeability of the border between those two classes, and the direction of flow.

If the flow is mostly one way, you're getting wealth extraction, not investment.

But assets are not easy to move. So if you tax assets and not income, it doesn't matter where the owners are. It only matters where the assets are.