[trimethylpurine]

The Chinese system restricts foreign nation state actors from buying everything so they will not be able to do what China is doing to the US. The US has only just started writing policies to address that (for example: [1]), probably because for so many decades Americans wanted to believe that China was an ally, or at least a well meaning business partner. China proves that capitalism doesn't work by destroying it.

[1] https://www.faegredrinker.com/en/insights/publications/2024/...

[xbmcuser]

China is not doing anything to the US, western countries were willing to hide the black money of countries before as it helped their economies. As China and other countries got richer the amount of money those people started bringing and putting into the real estate of western cities in the world exploded. The property market crash of 2008 and low interest rates made the situation worse. Now people in the west are crying about property prices but if they stopped allowing in black money from countries they would not face the problem they do. If they can find out about terror financing etc then they for sure can find all the corruption and black money coming into their countries/cities.

[pyr0hu]

China is doing the same in the EU. In european capitals, they are buying up the properties, increasing the rents and pushing out young couples from renting flats for a reasonable price. There are districts in Budapest where all flats are owned by chinese people. How does it help the EU economies, if they are leasing without contract, without tax, without anything illegally? They came every month, you pay in cash, no trace (but this applies to 99% of hungary renting, so it's the issue with the current rental system), they aren't even injecting money into the economy this way. And it's getting ridiculous that 26-28 year old people cannot rent a flat by themselves and have to resort to renting a single room only for 30-40% of their salaries.

[csomar]

> How does it help the EU economies, if they are leasing without contract, without tax, without anything

You know if they did things by the books the rent will increase? (probably by 20-30%)

[xbmcuser]

It's not china ie chinese government doing it but rather Chinese people purchasing residential properties. Chinese government is interested more in stuff like ports, airports/infrastructure. In actual fact China would prefer the money it's population is spending abroad is spent at home specially since the COVID slow down has slowed it's economic growth. So china restricts money going out of its borders now western countries could help China block it but that would be helpful to Chinese communist government so they don't and that is resulting in their own citizens getting priced out of their own cities.

[trimethylpurine]

>It's not china ie chinese government

At least in regards to the US, no one can really know that. The Chinese government technically doesn't own anything in the US anymore. The alarm is being raised because supposedly private Chinese enterprise includes ownership of significant American food production (e.g. largest pork manufacturer), farm land, homes near military facilities, etc. Those are strategically sound holdings for national defense in both countries. Suburbs are built on farm land, etc. It's very difficult to decouple real estate from national defense, really.

That said, "Chinese people" don't own all that much in the US overall when compared with other countries. China is being singled out because they have been caught spying repeatedly. They stood and burned their embassy and refused to allow firefighters in. There is military posturing. They are invading American airspace over the US mainland. All these combined paint such purchases in a suspicious light at the very least.

There's enough evidence to know that the Chinese government is funding at least some of the purchases. It could be most of these purchases. No one can know for sure, not even the individual buyers themselves. Only the Chinese government knows.

I think the same applies in Europe?

[trimethylpurine]

>China is not doing anything to the US

In many cases the ownership has been traced to government funding. The suspicion is that these are just the tip of the iceberg.

So, at least in the eyes of the US Congress, based on some damning evidence, China is doing something to the US.

That said, "black money" is also a problem. But I suspect that's the case in China as well. There's no way to eliminate all corruption, even in China.

[Y_Y]

What on earth is a "foreign nation state actor"? Do you mean "country"?

[trimethylpurine]

In the US this term is used to distinguish a country's government from its people. It refers specifically to a person or enterprise acting at the direction or as part of a country's government or military, as opposed to a private citizen. That's an important distinction in a country obsessed with protecting civil rights where nationality is a protected class. Under US law, preventing the purchase of a house based on national origin is unconstitutional. But if they are acting on behalf of a foreign government... You get the idea.