1 ACCEPTED SOLUTION
Accepted Solutions
@paintsew007 wrote:.......
In the meantime our law firms, accountants and bankers are travelling up and down China clutching:
SIV (Significant Investor Visa) forms http://www.immi.gov.au/faqs/Pages/What-is-the-significant-investor-visa.aspx application forms
FIRB (http://www.firb.gov.au/content/default.asp) management tips – i.e shush don’t wake them
Loan application forms
In an increasingly successful ploy to offer safe passage for those who can pay.
Beats a leaky boat from Indonesia.
If the so called ‘investments’ were productive one might be inclined to look the other way but many of the approved investments are nothing more than govt debt, pumping up the price of other existing assets* or smoke and mirror projects that allow the ‘spirit’ of the program to be subverted.
And that is assuming that the SIV facilitators feel under any obligation to actively monitor ongoing compliance by their ‘clients’.
*.....err.... like the rest of Australia's Property Market including RESIDENTIAL HOMES
http://www.macrobusiness.com.au/2014/08/huge-scale-in-chinese-property-bubble-and-bust/
I agree, paints. I think that's the greatest betrayal of Australian interests since the Depression. Maybe since First Landing.
With regard to the concrete China uses:
They certainly have the abandoned cities to show for it:
Built for over a million people, the city of Ordos was designed to be the crowning glory of Inner Mongolia. Doomed to incompletion however, this futuristic metropolis now rises empty out of the deserts of northern China. Only 2% of its buildings were ever filled; the rest has largely been left to decay, abandoned mid-construction, earning Ordos the title of China's Ghost City.
@paintsew007 wrote:.......
In the meantime our law firms, accountants and bankers are travelling up and down China clutching:
SIV (Significant Investor Visa) forms http://www.immi.gov.au/faqs/Pages/What-is-the-significant-investor-visa.aspx application forms
FIRB (http://www.firb.gov.au/content/default.asp) management tips – i.e shush don’t wake them
Loan application forms
In an increasingly successful ploy to offer safe passage for those who can pay.
Beats a leaky boat from Indonesia.
If the so called ‘investments’ were productive one might be inclined to look the other way but many of the approved investments are nothing more than govt debt, pumping up the price of other existing assets* or smoke and mirror projects that allow the ‘spirit’ of the program to be subverted.
And that is assuming that the SIV facilitators feel under any obligation to actively monitor ongoing compliance by their ‘clients’.
*.....err.... like the rest of Australia's Property Market including RESIDENTIAL HOMES
http://www.macrobusiness.com.au/2014/08/huge-scale-in-chinese-property-bubble-and-bust/
I agree, paints. I think that's the greatest betrayal of Australian interests since the Depression. Maybe since First Landing.
With regard to the concrete China uses:
They certainly have the abandoned cities to show for it:
Built for over a million people, the city of Ordos was designed to be the crowning glory of Inner Mongolia. Doomed to incompletion however, this futuristic metropolis now rises empty out of the deserts of northern China. Only 2% of its buildings were ever filled; the rest has largely been left to decay, abandoned mid-construction, earning Ordos the title of China's Ghost City.
