Chinese Dollars Have Stopped Flowing

ZH, via China Law Blog:"China Banks Seem To Be Doing Whatever They Can To Avoid Paying Anyone In Dollars"
1. Chinese investors that have secured all necessary approvals to invest in American companies are not being allowed to actually make that investment. I mentioned this to a China attorney friend who says he has been hearing the same thing. Never heard this one until this month.

2. Chinese citizens who are supposed to be allowed to send up to $50,000 a year out of China, pretty much no questions asked, are not getting that money sent. I feel like every realtor in the United States has called us on this one. The Wall Street Journal wrote on this yesterday. Never heard this one until this month.

5. Get this one: Money will not be sent to any company on a services transaction unless that company can show that it does not have any Chinese owners. The alleged purpose behind this “rule” is again to prevent the sort of transactions ordinarily used to illegally move money out of China. Never heard this one until this month.
What does this mean for U.S., Canadian and Australian real estate markets which have seen heavy buying by Chinese investors?

What do you think of the "value" of the renminbi under these conditions? More or less than the "exchange" rate?

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