Posted on 03/22/2022 2:08:41 AM PDT by zeestephen
"When developers change auditors ahead of their full-year results season, it typically raises red flags regarding potential auditing issues and should lead to serious market concerns about the trustworthiness of their financial numbers," Japanese bank Nomura said in a Monday note.
(Excerpt) Read more at cnbc.com ...
Shame is that Trump of all people would know how over leveraged they are on real estate and know how to squeeze them.
Xi inherited this and will try and fix it the only way a commie knows how. He’ll kill and rob his people.
Nobody should do business with these guys.
Unfortunately, they already did - which is why it matters here in the West. A lot of Western financial institutions are significantly leveraged in Chinese real estate development for some idiot reason.
Yes. They’ve been buying parts of Colorado. Another reason I really want to leave Colorado.
That’s not what the article (or my post) refers to. What you describe is Chinese investors buying American real estate.
What the post is about is Chinese real estate development *in China,* their domestic market. The reason why this matters to us here in the US and the rest of the Western world is because a surprising number of Western banks and investment institutions are heavily invested in Chinese real estate for some idiot reason. When the Chinese real estate bubble pops, there’s going to be a huge shockwave racing through those institutions as many of them fail. You may remember what happened the last time a national real estate bubble burst.
Thanks for the explanation, but I meant that as an adjunct to “nobody should do business with them” - like my state does, and that’s why it sucks. (Colorado.)
That’s a good explanation, though. I read the article, too. So now I’m HELLA SMART.
Actually, as long as the purchased land is not extraterritorial, remains subject to local laws and is not allowed significant/disproportionate influence on local politics, that’s fine. Check the history books and see what happened when the Japanese bought huge swaths of America in the 80s.
I’ll ask Mr K (not the one on this forum) about it; he probably knows a whole bunch about it or has a book about it. Thanks again!
Short version: Land isn’t portable, the Japanese lost their arse on their US real estate investments and all they did was enrich the Americans they bought the land from in the first place and give Americans a huge discount when the Japanese fire-saled their US real estate holdings.
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