Tuesday, November 10, 2015
Chinese money influx
A good portion is money from corruption in China.Some do not believe the US or Canada will take them back to China. At least one case as the Obama showed his good will during the visit of Xi.
Before and during the Hong Kong takeover, Canada, Australia... let many Hong Kongers migrated there boosting their real estate markets in many cities. There were resentments as the current generation cannot afford to buy their first houses. The old generation do not complain as their house prices have been doubled by the influx.
The US learns it the hard way. Today we give them green cards if they invest half a million dollar. It is a small change for many if you ignore the medium income that is not real. Do you want to give green card to one who invests half a million dollar or one who comes here to collect welfare on the FIRST day? I rest my case.