Capital Flight: How China’s Elite Are Using Japan’s Real Estate Market To Escape Xi’s Economic Maelstrom | ZeroHedge
As the Chinese government grapples with the ripple effects of a plummeting property market, wealthy Chinese citizens are accelerating moves to safeguard their wealth by investing abroad, Nikkei reports.
Chinese President Xi Jinping's economic policies are helping to lift property values in Japan, especially in the Niseko area of Hokkaido, left, and in Osaka's Dotonbori entertainment district. (Nikkei montage/Source photos by Ken Kobayashi, Yusuke Hinata, and Yo Inoue)
Notably, older Chinese, weathered by the harsh realities of the Cultural Revolution, are leveraging technology and international markets to insulate their assets from domestic economic shocks. Their destination? Japan's burgeoning real estate sector.
"Chinese people are buyin (more…)