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Clampdown on Chinese capital flight is shutting down their commercial construction in US

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It turns out that the Chinese authorities are upset about the amount of capital now fleeing China, and seeking safe havens around the globe.  One location has historically be US real estate, especially in California.  The clampdown on that capital outflow is resulting in mega-projects being abruptly stopped, with partly finished projects left as bizarre abandoned structures with rebar and jagged concrete on the top.  Without fresh risk capital, these go nowhere:

https://wolfstreet.us18.list-manage.com/track/click?u=814d7fe2e209ea27aa12fb806&id=fb3375c3d0&e=823a5f22b5

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Interesting .... maybe this is connected to the ramblings of ''shift in economy'' I'm hearing from the oh so wise one.

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6 hours ago, Jan van Eck said:

It turns out that the Chinese authorities are upset about the amount of capital now fleeing China, and seeking safe havens around the globe.  One location has historically be US real estate, especially in California.  The clampdown on that capital outflow is resulting in mega-projects being abruptly stopped, with partly finished projects left as bizarre abandoned structures with rebar and jagged concrete on the top.  Without fresh risk capital, these go nowhere:

https://wolfstreet.us18.list-manage.com/track/click?u=814d7fe2e209ea27aa12fb806&id=fb3375c3d0&e=823a5f22b5

This has been going on for about a year, its making the news only now ... just wait more to follow soon... as time goes on and trade tariffs bite their rear ends!

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1 minute ago, ceo_energemsier said:

its making the news only now

True, check out the China threads - there are a wide selection. Lot of articles recently coming out.

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I'm not surprised at all. Will this lead to falling property prices in some parts of the west where Chinese money was pumping up the prices?

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11 hours ago, ceo_energemsier said:

I recommend reading the comments on this story. The readers seem to have great insights. 

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5 hours ago, El Nikko said:

I'm not surprised at all. Will this lead to falling property prices in some parts of the west where Chinese money was pumping up the prices?

It should certainly affect California, Florida, and others. 

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43 minutes ago, ronwagn said:

It should certainly affect California, Florida, and others. 

It has also affected Australia, Singapore, London etc

I remember a few years ago, I had a real estate investment group and they were bring in Chinese buyers by the plane load into Central and South FL to buy up entire condo buildings and raw land too for development. I thought to myself we are going to have a major China town right here in South FL!!!!

Over the last year, the Chinese investors/buyers have still been looking to put their $$$ to use for their best returns , in their opinions, but moving funds out of the mainland has been difficult. A certain segment of the investors have resources that they can get exemptions and clearances to move the funds out but not large enough to prevent the drying up of Chinese funds into US and other foreign investments.

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My relatives and myself have seen many Chinese moving into Southern California, and having babies in California to purposely make them citizens. I can't blame them, we allow it. The money has certainly helped our economy but the increase in real estate prices makes it tough on present citizens. 

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