China currently has apartments enough to house their entire population, TWICE. The real estate market is absoulutely screwed. And many of those apartments are of “tofu dreg” construction, making them dangerous and uninhabitable. China is a house of illusions.
CC
“When your whole country’s economy looks like a bad risk you do the same thing. And that’s what wealthy Chinese citizens have been doing, stealthily moving their money abroad even though there is a potential risk of going to jail...”
Step one. Send your kid to university in Canada. Then they buy a multimillion dollar house in Vancouver, and get a “job” by being hired by their Vancouver Chinese cronies.
Bkmk
Of course they just need to find some banker where they transfer their funds, using an illegal encrypted VPN provided by the banker.
I would recommend they move to Israel;) I met the owner of the giant Russian Oil company a few houses from my house while living there. He basically had contact with the Jewish state and they took care of a huge chunk of his wealth.
The same goes here in the USA if you can meet up with someone from the State Department at a cafe, they can hook you up with one of the CIA declared agents in the mission. We can bring you home to AmeriKa.
“ All told, an estimated $50 billion a month has been taken out of China this year, mainly by Chinese households and private-sector companies.”
$600 billion/year sounds like a lot, especially for a weakening economy. That kind of capital flight must be worrying to the Chicoms, except I’m sure a lot of the Communist big-wigs are doing the same.
They are putting it into US Real Estate, that’s why ordinary working Americans are being priced out of homes.