Have you purchased any real estate in Communist China lately? Have you thought of investing dollars in Chinese corporate real estate companies? Has anybody noted that real estate corporations in China are going into decline at a rapid pace? Hmmmmmm. What does Beijing say about this?
Well, one response has been to harass international shipping in the South China Sea. This sea has recently been claimed by Beijing's Communist leaders as home waters. Hence, the PLA has claimed exposed rocks around Scarborough Shoals as Chinese territory. The PLA has paved over some of these rocks to make--------Airports(s). Large enough to handle large jet aircraft/military type aircraft.
Oh, and they've threatened Philippine Is. fishermen aboard their boats in the vicinity. Business as usual for Communist China, run by dictator for life: Xi Jin Ping. He must have a very good argument against all political adversaries. He has been able to sell himself as the modern day savior. Savior? Or ?????
So, China real estate has been overbuilt. Miles of 40-story condominium towers sit empty, waiting for buyers who have disappeared from the scene. These towers, shells of apartments, sit unfinished. When they are sold to individuals, they include nothing at all. They don't have doors or windows. They have no air conditioning; they have no appliances, they have no heating for those frigid winter nights; no light fixtures; no toilets, no showers. What did the purchaser buy? A SHELL of a place. After completing the purchase, the new owner can start saving to finish his "place". The Mayor talked to several of these "owners" when visiting PRC a few years ago. They told of the long wait before actual move-in takes place. The slow process of buying all the necessities a "home" owner needs. But these days, the home owners not only can't afford the initial buy, they can't begin to think of the years of 'finishing' required. Hence, the implosion of the vast real estate empire(s) fostered by Beijing.
Have a nice winter Mr. Xi JP.
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