Quote:
Originally Posted by Locke
Alright, I'm going to throw out a question and I'm asking as I dont know:
"Why are all of the Chinese buying property and acquiring Citizenships in Canada and what is China doing about it?"
Initially it appeared to me to be a fairly standard money laundering scheme, but then subsequently acquiring Citizenships seems to trend toward the likelihood that they, someday, intend to be here.
This much money funneling out of China cant be a good thing for them, and it isnt exactly funneling into Canada. They're picking up assets and are taxing the system somewhat but their money isnt really being funneled into the local economy.
This is kind of a problem because having this much Capital basically tied up in Limbo isnt good for anyone.
So Canada dragged their heels for a while apparently because they thought this would be good for Canada at some point, and it may well yet be, but what is China doing about seeing dollars and people, presumably highly qualified people, preparing for a mass exodus?
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I think the citizenship aspect is for two reasons: possible protection and help from the Canadian government should they need it; and the ability to start a new life in Canada with the aforementioned aid should it be required. Without citizenship, the insurance policy wealthy Chinese are buying isn't nearly as valuable.
All of this is because China remains without the rule of law: at any moment the rules can change, or you could piss off the wrong Party member, and all of whatever you have disappears.
International corporations are having the same difficulties: they want access to the Chinese market, but don't know how to keep whatever profits they make safe in an unstable legal environment.