Insider’s Review of China’s Real Estate (2010-9)
A family friend picking up the mail at one house said the real owner is a business person in China who will not be in Canada for months.
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Many of the properties registered to homemakers are occupied. A key question is whether foreign ownership actually is inflating the market while locals whose income tax dollars pay for roads and hospitals are squeezed out.groupdeal308new.dev3.develag.com/conocer-mujer-en-lima.php
Everyone is Still Underestimating China, by Anatoly Karlin - The Unz Review
One third of the properties increased more than 50 per cent in price since — some of those more than doubled. The price of one property went up 40 per cent, then per cent, in five years. Having trouble viewing this on mobile? Red markers indicate featured properties. The most revealing picture on tax avoidance emerged in court records from more than B. Essentially, CRA rules say a non-resident who buys and sells Canadian property must pay capital gains and other taxes on earnings from those investments. Some cases indicate that millionaires buy properties through relatives in Canada and then claim in their tax returns to be non-residents — which means they pay no Canadian taxes on their worldwide income.
The court concluded Mr. The court concluded that Mr. Ho bought several properties in the Vancouver area. He put one in Ms. In that scenario, no one pays the B. Ho became a Canadian citizen years ago and signed up for B. Sze told The Globe and Mail.
She testified at one point she owned 16 properties in B. The judge called Mr. Follow me on Twitter: This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe. If you would like to write a letter to the editor, please forward it to letters globeandmail. Readers can also interact with The Globe on Facebook and Twitter. Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.
Read our community guidelines here. African and Mideast Business. ETFs Up and Down. That policy is amendable; countries just need to refuse to sell until more sensible practices are adopted. The Chinese are pragmatic, and will change as much as they must. US presidents have been helping build up China for decades — hell, arguably since Nixon. American corporations have been setting up shop there since the s. They did it for different reasons, but mostly for the chance to cash in on what must sooner or later become an enormous emerging market with an appetite for American goods.
In this, again to a degree, they were right. China during the reign of other American presidents usually owed America gratitude. Under Bush, America gave up the high ground. In which President of Iraq Saddam Hussein has decided to switch to Euro from dollar for oil payment receipts.
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Americans are not stupid enough to invade China, no matter which currency they decide to use! This is a good summary: China is far more open than the USSR. As such, maintaining good relations with China is a priority amongst the US political elites. Furthermore, it is now transferring some of its accumulated foreign currency reserves to buy up land, mineral resources and even governments beyond its borders that will enable it to keep growing in a world of scarcer resources — unlike weaker and less far-sighted developing nations.
As soon as China feels that it no longer needs the US market, the Chimerica arrangement will come to an end. If so, will this be a peaceful transition? I am guessing there will be a feeling of cultural shock in so called western liberal democracies. You very briefly mentioned the challenges that AGW and peak energy presents to China, but seemingly this did not factor significantly into your end conclusion of continuing explosive Chinese economic growth.
I know that the Chinese government has begun to take the environment more seriously and made some interesting token efforts recently new Green cities initiative — but considering the scale, impetus, and practices of the Chinese authoritarian? I think the biggest challenges for China will come at around By that period, all hydrocarbons should enter into rapid decline corollary: The key question is whether the world — and in large part, China itself — will be quick enough to transition to a sustainable energy system and perform the geoengineering to contain warming from veering into catastrophic levels.
I have often felt that the hysteria of the anti-Russia lobby for the last ten years since Putin started out in charge was in part a misdirection play or an attempt to give the hawks something to do to keep their Military Industrial Complex gravy trains going while China bought up America. As late as many neocons were looking ahead to the big confrontation, call it Cold War II, between America and China.
Owning Iraq was supposed to be their trump card, along with the Colored Revolutions across Eurasia. But they failed, and never really asked themselves how it would be possible to wage a new Cold War against an opponent who has the capability to wreck your debt-saddled financial system in one stroke. Chinese econometric statistics may not be manipulated by the reporting agencies but there is a high likelihood they are wrong for any number of reasons related to the consequences of reporting entities reporting the truth. Recently Credit Suisse independently estimated Chinese income is understated by 10 trillion yuan annually , which reflects the rampant corruption among party and state officials.
Gao Xu says only that the statistics are consistent. Every statistician knows to throw away the outliers. Just because published statistics are made to be consistent doesnt mean they are accurate. Thats an important question, will it be a peacefull trnasition? Will the pentagon actually dissapear witha whimper instead that with a bang? Over at First Things there is a debate about whether the Chinese government is cooking the books.
I have met too many Vietnamese or Chinese of late in the U. So we have a bit of a quandary here. I honestly do not know. Much of the countryside is not that poor, either, with basic utilities almost universal and reliable though car penetration remains minimal. Great inefficiencies do exist in its manufacturing, but not that great. Something is seriously wrong with the established metrics on China. This is a very good observation. The financial bubble is bursting because it is decoupled from the real economy, which has been shrinking in the west in the last 30 years.
I think the relations will be more complex. Europe, including Russia, does export and import on a balanced basis with China. The growth of this country will likely mean that it becomes the focal point of the Europeans who are very much centered around an economic cooperation via the expanding EU. America and China seem to be rather competitors on the same market with the US losing ground as their trade balance with China shows.
On the long run, improved economic conditions in China and corresponding consumption instead of lots of saving and investment will open the door for an American economic reorganization in which the many Chinese migrants will play an important role. Sure, US superpower status will likely be lost and the country be more of a great power like Russia today. The Unz Review - Mobile. An Alternative Media Selection. All None Exclude Blogs. Teasers Russian Reaction Blog. Everyone Is Still Underestimating China. Republished from Sublime Oblivion by permission of author or representative.
The Pearls of Lusitania. Russia's Second Oil Peak. Why Russia and China Won't Fight. The Century Without an Indian Summer. Show 25 Comments Leave a Comment. August 18, at 9: Viktor One more thing to add here: Anatoly Karlin This is a good summary: It's true that rhetorically, China still describes itself a developing, low-income nation.
However, I doubt any major statistics manipulation is occurring to understate its own "economic greatness". August 18, at Asia expert gives his take on the coming collapse of the American empire, an article tangentially related to China: As ever, a very convincing argument.
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Of course it might raise the chances of suitcase nukes in London etc… hmmm… 2. Iran could help stabilise both Iraq and Afghanistan. Iran is anti-Taliban, unlike Pakistan. Mktp Completely agree with you. August 18, at 3: Yalensis Re China switching to euro, check out this blast from the past: Some analysts believe this move played a part in Saddam's downfall. That wouldn't happen to the Chinese, of course: August 18, at 6: August 18, at 8: Anatoly Karlin I see "Chimerica" as a mutually beneficial arrangement between the two countries, but one that overwhelmingly favors China in the long-term.
China's cheap exports to the US kept down inflation, and its buying of US Treasury bonds from the proceeds helps underpin the credit system. These twin factors have allowed normal Americans to keep treading water, even though real median incomes have increased little since the 's and actually fell during the last decade.
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For its part, China's export earnings have allowed it to build up a huge, modernized industrial base at record tempo. Furthermore, it is now transferring some of its accumulated foreign currency reserves to buy up land, mineral resources and even governments beyond its borders that will enable it to keep growing in a world of scarcer resources - unlike weaker and less far-sighted developing nations. I'd like to think that we in Canada, and specifically on the west coast, are a little more aware than some, as we have a proportionally large Chinese immigrant population.
Also, China's handling of Hong Kong's return to Chinese control was a masterpiece of restraint, not at all what many who consider themselves China-watchers thought they would do. They left Hong Kong pretty much as it was, designated it a special economic zone, and encouraged the big western business investors to stay - which most of them did.
Those who I admire as being able to see into the future better than others suggest this - while a smart and successful pitch in its own right - is also an incentive aimed at You'll just be a part of China, an emerging economic juggernaut - what's not to like? Finally, China's gaining control over the American economy was just a lucky break for them, aided by an idiot president and an easily-manipulated electorate whose understanding of money is limited to throwing it away by the bushel-basketful. I suspect if you looked, you'd find measurable sacrifices China made in order to keep lending America money to pursue its favourite hobby - war - while acquiring staggering levels of American debt.
They've already done it at least once, and must have been gratified by the results. They said it was a mistake, of course - Comrade Wu in accounting, such a cut-up, but he was only joking - but the message was clear. Don't bother us with stupid annoying talk about human rights or what we should do or shouldn't do, unless you want us to call in a note you can't pay.
What I don't care for from China is their tendency to encourage countries to strip their resources away in thoroughly environmentally-unsound ways in order to make a quick and generous buck. Re China switching to euro, check out this blast from the past: I heard that Chinese routinely understate their own "economic greatness", possibly out of cultural modesty?
RC Chinese econometric statistics may not be manipulated by the reporting agencies but there is a high likelihood they are wrong for any number of reasons related to the consequences of reporting entities reporting the truth. You're quite correct - I was referring to George W. In fact, when I think of him, the suffix "the idiot" is automatically appended to his name.