Quote:
Originally Posted by blankall
As long as the Chinese are following the US laws, what's to stop them from buying a large chunk of land and then developing it.
I think what we are seeing here is a major global inequality though. The Chinese are buying land/resources all over the world. Meanwhile many of the Chinese properties/resources remain nationalised and non-citizens cannot purchase land. The best you can do is lease land from the government (although 70 years seems to be the standard lease, which is a long time) and good luck getting through the red tape.
In order to combat skyrocketting real estate prices, the Western governments shoudl start following the Australian model. Limit property ownership to one property per non-citizen.
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At some point as much as the concept of economic protectionism is a bad phrase, I think that nations are going to have to start firewalling themselves against the Chinese business model.
One of the things that really hurt the Japanese is that they bought a ton of American properties, and then lost money on it when the economy slide.
But at the end of the day, fair trade has to be fair trade, and with China intentionally devaluing their money, and paying slaves wages to their workers while closing off their markets to anyone elses goods.