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Vanke, Last Of The Giants, Nears Default
China Vanke's special. Or at least it was.
In a property sector where every major developer experie
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In spite of Xi’s efforts to stop the wealthy from transferring their wealth out of China, it is estimated that as much as $300B- $1T left China via illegal means (crypto and/or not repatriating cash flow from foreign subsidiaries, among other means of illegal transfers) in 2024. This is in addition to the $50,000/ annually per family member that is legal.
Hard to think it would be wise to invest in an economy facing significant capital flight. UK and China have this in common.