Chinese developers muscling in to Bay Area housing market

San Francisco Chronicle ^ | March 13, 2016 | Kathleen Pender

[aquila48]

Yes, but there are just as many selling dollars to buy those other currencies... or gold or other assets.

In other words currencies is just another asset class, and they are traded everyday.

But by far, the bulk of trade deficit US dollars are used to buy US treasuries and other US financial assets.

https://en.wikipedia.org/wiki/Foreign_exchange_reserves_of_China

[dennisw]

Very good and all correct/ Chinese money is also buying up Queens, NYC. real estate.

Over the last ten years we have had more legal Asian immigrants than Hispanics. Of course Chinese are just part of that Asian influx.

Australia is also being flooded by legal Asian immigration from China and India. Tens of thousands of Chinese students studying in Australia universities. I doubt they will be returning home after their studies.

My favorite story is a Chinese fellow paying 40 million for an Australian vineyard sight unseen. All to hustle his money out of the PRC

[dennisw]

dim bulb!

[lentulusgracchus]

One of our FRiends replied privately to say he thinks it's the same motive you cited. Chinese renminbi just took a hit on the forex markets yesterday (official devaluation, I think), so the holders are motivated, as FRiend said, to turn their cabbage into something durable in a country where property rights are protected -- and that would be the U.S. or "Oz." They're also buying Down Under.

I'm still worried that if they get as many as 10-20 million fresh Chinese immigrants into the States, that's going to have nasty political ramifications later. Then we'll have to think, okay, what do we have to do, to keep from being turned into a nation of toilet-scrubbers and bellmen?