China lets yuan break 7-per-dollar level for first time in over a decade

Re:China lets yuan break 7-per-dollar level for first time i... by SlowRobotAhead on Monday August 05, 2019 @10:59AM (#20614700)

>The more wealthy and smarter Chinese have been investing overseas. That investment has fallen exponentially since the start of the trade war[2].

I’ve been around the world enough to see this first hand. Empty brand new offices in Malaysia, Taiwan, Indonesia. Big apartment investments in small cities in USA and Europe. Lots of both in the southern half of Africa.

Perhaps the most interesting were the giant empty office buildings in Asia. Brand new, but seemingly falling apart, elevator shafts open with wires hangout of control panel locations. Ready to fix up for the right client, but I wonder who that is and when they are coming?

[ Parent | on HN ]

Re:China lets yuan break 7-per-dollar level for first time i... by lofikrom on Monday August 05, 2019 @11:27AM (#20614913)

Crucially, if the so-called house of cards in China does crumble, we're likely to see residential and commercial real-estate suffer worldwide. This is the consequence of years of capital flight coming out of the country.

[ Parent | on HN ]

Re:China lets yuan break 7-per-dollar level for first time i... by buttcoinslol on Monday August 05, 2019 @11:48AM (#20615077)

Good, I'd like to buy property in the next 3-5 years, along with a bunch of other people who have been priced out due to cheap money.

Asset valuations are not in line with reality.

[ Parent | on HN ]

Re:China lets yuan break 7-per-dollar level for first time i... by Supermancho on Monday August 05, 2019 @12:45PM (#20615609)

The luxury market in Seattle (Bellevue) crumbled after the Chinese foreign asset taxes went into place. Empty homes that were Chinese owned, are still largely Chinese owned, but suffering from deflation of market value. Home construction plans have slowed or stopped and luxury vehicle, jewelry, etc stores have folded up.

[ Parent | on HN ]