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Q: Capital gains tax to be introduced by Chinese government on FOREIGN property ownership

This is an interesting issue for me. Since the anti-corruption crackdown, hordes of corrupt officials and their proxies have been laundering money into housing markets in communities where they could never dream of working in.

 

It seems the taps are being turned off, and in fact some investments made in Melbourne and Sydney are finally generating a negative return.

 

Many people in western countries seem to have become addicted to the influx of Chinese "investment" into their countries and this has actually resulted in price distortions and asset stripping, but most of the beneficiaries of this have either dissuaded the general public from what they're able to see with their own eyes by chastizing us with economic jargon, or they're too inculcated with neo-classical economic theory to be able to see what us laymen can see.

 

One of the reasons I tolerated the idiocy prevalent in daily and professional life here in China is that I can save much more and these savings are necessary because the house prices in my country have been inflated by absconding kleptocrats from this very country.

 

Are you, like me, an economic refugee waiting for the tyrant to get a bullet between his eyes? Will western property prices correct and will the Chinese finally take their hot money out of the markets back home and incinerate it like the French did to their assignats? Should we be glad the current administration is taking care of this problem?

 

Have away. I love to talk about these issues. Housing costs, investment, long term trends. It's all good fun.

2 years 44 weeks ago in  Business & Jobs - China

 
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I just want to see all the greedy bastards in this place lose everything

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2 years 44 weeks ago
 
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I just want to see all the greedy bastards in this place lose everything

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2 years 44 weeks ago
 
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this will only work if such properties are officially reported.

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2 years 44 weeks ago
 
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