Hmmmm. Has anybody seen or heard from Jimmy Lai, the Hong Kong media tycoon and supporter of democracy? He was arrested last year; he's the founder and owner of The Apple Daily, a media outlet critical of Beijing & Co.(Xi & Co.) He was being held somewhere undisclosed to the public or the world. This is normal. (see Jack Ma). The economy in China is slowing dramatically. The real estate bubble is bursting with overbuilt structures nobody can afford or doesn't want. As in all bubbles, nobody wants to be the last buyer in the queue. So Beijing & Co. must divert attention from this debacle caused by government support of favored banks and builders. The Mayor observed countless 40-story apartment buildings scattered around every large city visited in 2019, whether in north, the east or the west-same story: too many projects going up. The formula: build it and they will come. We talked with a family that had purchased a high-rise condominium in one building. It came without doors, windows, fixtures, or any other basic requirements for occupancy. It took them 5 long years of saving, purchasing necessities, and finally occupying the condo. Doesn't seem like the road to success for the average family.
But I digress. Where's Jimmy Lai? Keep looking.
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