zlacker

>>eswat+(OP)
To maybe offer a different perspective: I think the Canadian mortgages linked to Chinese accounts will likely all be paid. What may be happening is that there is a lot of underground chinese financial activity that is not recorded in Canada and part of this 'network' is utilized to get money out of china.

>>Sunlig+bn
> think the Canadian mortgages linked to Chinese accounts will likely all be paid

Out of curiosity, why? China's stock market is melting down in the midst of persistent deflation. A lot of people who thought they had liquidity may not anymore. Beijing could open the taps, but then that puts pressure on the currency.

>>JumpCr+hE
> Out of curiosity, why? China's stock market is melting down in the midst of persistent deflation. A lot of people who thought they had liquidity may not anymore. Beijing could open the taps, but then that puts pressure on the currency.

The whole point of the money laundering operation is to get the money out of the country. China going to pot only accelerates it.

>>cbsmit+eF
> China going to pot only accelerates it

You have to have money to launder it. Also, if the currency keeps getting hammered, Beijing will crack down on the exit channels.

>>JumpCr+bX
Most Chinese don't invest in their stock market. The accredited investor qualification is much harder to get than in the US.

Most investment is in real estate, which has remained fairly stable in Tier 1 cities (which is where most of the post-2008 Chinese Canadians are from)

To get more than the $50k limit out, people would use a hawala type system where you'd use assets in China as collateral and get guaranteed cash from a broker abroad.