Is there a Global Crisis on its way?

Typical LL dance post. Didn't address the point of discussion.

Just a troll attempt at WFH and a Covid post that's not very relevant. Nice distraction try.

Remember when you said prices follow volume? Or higher rates will destroy prices? Or the infinite number of wrong posts? Are you hoping Kenkenko comes in here to save you because that's the only thing you talk about? You even turned on USC. Someone help defend LL!

I'll see you in a few weeks when you decide to troll Irvine again.
 
The Motor Court Company said:
It is Official

How does affect FCBs in Orange County?
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I think Evergrande and other real estate failures have actually made a lot of FCBs park their money in US/Canada RE. My dad knows clients in China and have mentioned that the 50k transfer limit doesn't matter. There are apparently "underground" banks that will help FCBs transfer their money to the US.

Risk of being caught is what I would be concerned about here. But I don't live in China to know whether it's something the CCP will look to crack down on. I wouldn't play around with the CCP if I was a citizen but I guess the rich folks in China know what limits to push I would think.
 
For the affluent in China, they have access to private banking services where their assets in China can be used to take out loans outside of China.

In Taiwan, where mortgage interest rate tend to be significantly lower than the US, some people take out a loan on their property in Taiwan to buy property in US. FCB's are not necessarily that rich, as purchases here may be financed by loans back home.

Mortgage rates hit seven-year high: central bank - Taipei Times

Bringing Taiwan to the World and the World to Taiwan
www.taipeitimes.com www.taipeitimes.com
"Interest rates for new mortgages in January climbed to a seven-year high of 1.953 percent at the nation’s five major state-run banks, while new house loans fell to a four-year low, as rising borrowing costs cooled the property market, the central bank said."
 
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China is not well…😳🤦🏽‍♂️

China’s factory activity shrinks for a fifth straight month in August

· The official manufacturing purchasing managers’ index came in at 49.7 in August, according to data from the National Bureau of Statistics released Thursday.

· Official data also showed China’s official non-manufacturing PMI falling to 51.0 in August — compared with 51.5 in July and 53.2 in June.

· There are growing concerns that the Chinese economy may not meet Beijing’s stated 5% growth target this year, amid a festering crisis of confidence in the country’s property sector that’s plagued by credit woes and weak sales.

· Beijing has resorted to a rather targeted approach in bolstering the economy, ranging from measures to boost lending and stocks investment, to more tangible measures aimed at boosting housing demand.

https://www.cnbc.com/2023/08/31/chi...rce=iosappshare|com.apple.UIKit.activity.Mail
 
The executions will continue until morale improves!....😳🤦🏽‍♂️

China police detain some Evergrande wealth management staff

BEIJING, Sept 17 (Reuters) - Police in southern China have detained some staff at China Evergrande Group's wealth management unit, suggesting a new investigation that could add to the property giant's woes.

"Recently, public security organs took criminal compulsory measures against Du and other suspected criminals at Evergrande Financial Wealth Management Co.," Shenzhen city police said in a social media statement on Saturday night.

The police said the investigation into the financial management unit was ongoing and urged investors to report any further financial crimes.

China Evergrande (3333.HK), the world's most indebted property developer, is at the centre of a crisis in China's property sector, which has seen a string of debt defaults since late 2021 that has dragged on the growth of the world's second-largest economy.

The group, currently undergoing a protracted debt restructuring which has seen it offload a range of assets, said on Friday it has delayed making a decision on offshore debt restructuring from September to next month.

https://www.reuters.com/markets/asi...vergrande-wealth-management-staff-2023-09-17/
 
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sleepy5136 said:
I think Evergrande and other real estate failures have actually made a lot of FCBs park their money in US/Canada RE. My dad knows clients in China and have mentioned that the 50k transfer limit doesn't matter. There are apparently "underground" banks that will help FCBs transfer their money to the US.

Risk of being caught is what I would be concerned about here. But I don't live in China to know whether it's something the CCP will look to crack down on. I wouldn't play around with the CCP if I was a citizen but I guess the rich folks in China know what limits to push I would think.
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100%
 
People who are moving millions or already moved millions have high anxiety of getting gestapo'd if they return.
Better make sure you bribed the right officials.

Isn't that why CCP have secret police stations in other countries?
 
Quietly cascading down ….😳

Country Garden says it may not be able to repay debt, warns of uncertainty around liquidity position​


  • Country Garden fails to make a debt repayment of 470 million Hong Kong dollars ($60 million).
  • The company also expects uncertainty in its liquidity position and asset sales in the short and medium term.
www.cnbc.com

Country Garden says it may not be able to repay debt, warns of uncertainty around liquidity position

Chinese property giant Country Garden has not been able to meet its debt obligations and warned of uncertainty around its liquidity position.
www.cnbc.com www.cnbc.com
 
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Been warning about this for two years. China is following the exact same deflationary path that Japan did in the 90s. There’s been a total blackout on this disaster. We will always be number one.😂😂👍🏽🇺🇸

It’s really bad’: China strategist warns of deflation and rock-bottom consumer confidence​

PUBLISHED MON, JAN 22 20246:06 PM EST
Ruxandra Iordache@RMIORDACHE
  • “I’ve been in China for 27 years, and this is probably the lowest confidence I’ve ever seen,” Shaun Rein, founder of the China Market Research Group, told CNBC Monday.
  • He forecasts that China will experience “another 3-6 months minimum of a very painful economy.”
  • The world’s second-largest economy has faced a slower-than-expected recovery in 2023 after exiting Covid-19 restrictions.
https://www.cnbc.com/2024/01/23/china-strategist-warns-of-deflation-and-rock-bottom-consumer-confidence.html?__source=iosappshare|com.apple.UIKit.activity.Mail
 
don’t you think it’s odd that this does not get a mention in the press or almost anywhere ? It’s as if it isn’t happening. I find that really weird. In 2017 when Greece was going under, it was in the headlines every single day, China is a bit more important than Greece.🤷🏽‍♂️😳🔫
 
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