I think they have fairly strict monetary controls to prevent that.
I spent a decent amount of time in China before COVID and the amount of semi finished husks of buildings was alarming. They definitely over-built and the piper is finally getting paid it looks like.
Was just going to say this. This will just shift money away from Chinese RE, probably into RE in the West.
I think they have fairly strict monetary controls to prevent that.
I spent a decent amount of time in China before COVID and the amount of semi finished husks of buildings was alarming. They definitely over-built and the piper is finally getting paid it looks like.