China needs to adjust their official target of 6-6.5% GDP growth per year - it is completely unsustainable and has caused far too many risks to be taken in order to maintain it.
Unless they want the bubble to pop? I can't imagine the social upheaval it would cause there (and throughout the rest of the world)
Implying that China is correctly reporting their true GDP. Given how opaque their system is in general, it's hard to trust any official sources. It's likely they are ~2% lower than officially reported already.
Why though? What would the wealthy Chinese people that own it want to do with the cash instead? I would think having your investments in a stable country instead of one in chaos would be ideal?
It is possible that some may feel the need to become liquid in short order, but I think that most are going to be smarter and follow your thinking. Owning real estate outside of China gives them an asset that is relatively safe from being seized and which can help fund a flight to safety if it ever comes down to a 'blood on the streets' scenario.
That's something of a borderline case. We buried most of them as dupes but also spared a few. When there's a blockbuster story like that, there's a lot of energy in the community to keep talking about it, and articles tend to appear that offer significantly different perspectives.
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[ 2.6 ms ] story [ 45.9 ms ] threadUnless they want the bubble to pop? I can't imagine the social upheaval it would cause there (and throughout the rest of the world)
https://www.ft.com/content/961b4b32-3fce-11e9-b896-fe36ec32a...
In the case of https://news.ycombinator.com/item?id=20322032, currently on the front page, I'd say that's a different story.