The Communist Party of China has placed travel restrictions on officials, their spouses and children in anattempt to prevent them from fleeing the country and transferringfunds abroad.Claw backs would be really fascinating to watch.
The CPC Central Commission for Discipline Inspection introduced the restrictions at a meeting that took place May 23, according to Chinese media reports.
In addition, anti-money laundering inspections will be conducted, as well as monitoring of cross-border finances, fighting underground loan sharks and stopping capital from flowing abroad.
Saturday, May 26, 2012
New Restrictions on Chinese Officials' Travel and Money
What took them so long? The report and $120 billion cited in the article were prior to 2008. Prior to the massive stimulus which dumped even more unchecked money into the system. The numbers must be much much higher by now.
Chinese authorities restrict officials' overseas travel
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4 comments:
I'm anti-capital-punishment but certainly commuting one's sentence to life from death on condition of reclamation of lost monies would have some interesting opportunities for financing future investment projects
When I first read that I thought it said Anti-Capitalist-Punishment. And I thought, Ah, a Romney fan... ;-)
Anyway. I'm curious if you've been playing with the new REBGV numbers and if you want to share notes. I'm flummoxed on them.
GG I don't follow the benchmark any more; it's more a lagging indicator anyways. I'm a sales and inventory aficionado, with occasional looks into prices when looking at cap rates
Housing is the most manipulated market in the world.
Read:
http://www.newworldparty.org/2011/04/housing-most-manipulated-market-in.html
(Canada's manipulation is explained in bottom half)
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