While Chinese
investment is growing in the United States, the flow of money fleeing China’s
shores is continuing unabated.
China saw a net loss
of $51 billion in August, according to the Wall Street Journal, marking two
years of continued net capital outflow from the country.
Year-to-date, China’s
net losses have reached about $400 billion, with outflows peaking in January
when nearly $143 billion left the country in a single month.
The trend has
contributed to a weaker Chinese yuan, which had its value against the dollar
drop 3 percent this year. It’s also caused some Chinese investors to feel the
yuan’s downward trajectory will continue, the Journal reported, making the U.S.
dollar a more attractive alternative to store their wealth.
In the real estate
realm, Chinese money has not yet made as big as splash in Miami as it has in
New York. However, as Chinese investors increasingly
tackle ground-up development stateside,
several major projects have appeared in the city with Asian backers.
China City
Construction is planning a mixed-use project on land it
owns in Brickell, as well as aluxury
condo in Miami Beach. And ASRR, a
publicly-traded Israeli company, brought
on investors from China and Hong Kong to help it fund
the acquisition of an entire block in Miami’s Arts & Entertainment District
for $33 million. [Wall
Street Journal] — Sean
Stewart-Muniz
Original Content The Real Deal
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