China's elites appear to be exfiltrating billions while on holidays

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Anyone paying attention to the Vancouver BC real estate market could have told you this 10 years ago and I have heard rumblings that they are shifting to Seattle now. :crying_cat_face:


How soon before they have a communist revolution in China?

Oh, wait. . . .


And there’s a long line of folks ready to help them, for a small fee of course! :slight_smile:

This feels like a stupid question, but: How trustworthy are the statistics coming out of China? They’re clearly willing to mis-and-dis-inform their citizens, so why not fudge those numbers, too?

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Look at it this way:

If the numbers are being fudged by the Chinese government to try to minimize the problem, and it still looks this huge…

That’s a problem.


Totally agreed. But hey, they can always fudge the numbers back the other way, then we don’t have a problem! Numbers are fun!!!

The State of New York and the State of Florida are putting an end to the money laundering in their states. Hopefully, the other 48 states jump on this bandwagon before there’s another giant economic crash.

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This isn’t so much as laundering as putting it into assets that China can’t touch like houses that can be sold later and they sit empty and not kept up in the meantime. From what I understand Russians have been doing a lot of the same in London.


Yeah the explanation I’ve heard from Chinese folks here in Australia is that they’re anticipating a possible backlash against the growing wealthy class and want to stash their money where it won’t get seized by their government.


Now, why on earth would there be a backlash against the wealthy eh? Because they’re moving cash out of the country perhaps?


How trustworthy are statistics, period?

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As an English major, I’d guess that has to do with the particular statistic. But if you’re asking for a statistical measure of statistical measurements, I would think that we’re about to wander down a rather number-y recursion hole.


The reliability of a statistic is exactly proportional to the ability of the person spouting the statistic to critically read and interpret the original study’s methods and data.

So, if your statistic is coming from a news organization, probably not very reliable. If it’s coming from someone who is well-versed in proper study design for that particular field of science and has thoroughly read the underlying study, probably extremely reliable.

There’s also the question of whether the study has been replicated by an independent third party. If it has been, the reliability goes way up.


I’m sure that statistics lets you measure, and therefore make inferences from, trustworthiness.


Wouldn’t you? If you could?

I wouldn’t, but I’m an idiot who writes online.

“…For all time…”

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