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January 28, 2017 04:45 am PST
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/axHDpZzXg6c/chinas-capital-controls-are.html
China's capital controls are working, and that's bursting the global real-estate bubble
More news on the Chinese crackdown on money-laundering and its impact on the global property bubble: the controls the Chinese government has put on "capital outflows" (taking money out of China) are actually working, and there's been a mass exodus of Chinese property buyers from the market, with many abandoning six-figure down payments because they can't smuggle enough money out of the country to make the installment payments. (more…)
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/axHDpZzXg6c/chinas-capital-controls-are.html
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