Gotta love the way this editor finds her gems
Depends a lot on its ability to prevent Chinese capital flight...
Instead there has been talk from the People's Bank of China of a "severe crackdown" on illegal currency transactions and a "strengthening of checks" on the validity of transactions.
The net effect of this is it will be more difficult for many to get money out of China. The crackdown - without changing official policy - will also send a strong signal to a Chinese public which is highly attuned to these kind of proclamations.
Fewer will try to move money through official channels and as the grey areas become more risky we may see a spike in the proportion of black market. To whatever extent Chinese foreign investment was driving a spike in Auckland house prices we could now see that abate.
Depends a lot on its ability to prevent Chinese capital flight...
Instead there has been talk from the People's Bank of China of a "severe crackdown" on illegal currency transactions and a "strengthening of checks" on the validity of transactions.
The net effect of this is it will be more difficult for many to get money out of China. The crackdown - without changing official policy - will also send a strong signal to a Chinese public which is highly attuned to these kind of proclamations.
Fewer will try to move money through official channels and as the grey areas become more risky we may see a spike in the proportion of black market. To whatever extent Chinese foreign investment was driving a spike in Auckland house prices we could now see that abate.
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