Friday, Jan 27, 2017

Anyone still want to blame Stanp Duty?

The Straits Times: China's crackdown on capital outflows sending shudders through global property markets

Stanp duty hikes were a symptom of the bubble blown by capital flight from BRICS and the Gulf.
Russia is under sanctions.
Oil has crashed.
OECD is cracking down on illicit money flows a
Tax havens are opening up.
China is quelling capital outflows.
Anyone still want to blame Stamp Duty for the turning of the tide?

Posted by sneaker @ 01:02 PM (9596 views) Add Comment

2 Comments

1. libertas said...

Actually, this could cause a tremendous amount of capital to panic flee China.

The Communists do not understand that the best way to attract capital would be to remove all restrictions on its removal. Would you put money in a bank which did not let you withdraw?! Likely, this will most impact those without much money who would unlikely invest abroad. Billionaires will unlikely be effected other than seeing this as a trigger to take money out of the country, or, more importantly, for outsiders to refuse to invest money in China or repatriate foreign earnings.

Sunday, January 29, 2017 05:54PM Report Comment
 

2. icarus said...

@1 The article gives examples and anecdotes of the negative effect this is having on Chinese property investments - including corporate money - around the world, even though there's a lot of Chinese money parked offshore. You're using your old 'front-running border controls' argument without referring to any evidence. And any sentence that begins with "The Communists (or capitalists or fascists) do not understand" is arrogant - "I understand but they (millions of 'em) don't (even with their technical policy advisors).

Monday, January 30, 2017 12:37PM Report Comment
 

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