By Erik Crouch.
Image credit: @dcmaster
Despite recent headlines to the contrary, it looks as though China may soon be taking corruption seriously. In what could be a sign of things to come, the provinces of Guangdong and Jiangsu have been hit with an influx of apartments for sale government officials nervous about an impending crackdown attempt to dump their suspect properties. The South China Morning Post reports:
This [is] only the “tip of an iceberg”, suggesting the possibility of more asset sales by anxious officials as the state government kicks its anti-corruption drive into high gear. […] Chinese real estate mogul Huang Nubo, of the Zhongkun Investment Group, pointed out that the government’s anti-corruption policies could actually be more effective in stabilising the property bubble than the recent financial caps and monetary easing.
In other words, the anti-corruption campaign (which hasn’t even truly started yet) has already cut down on government abuses of power and helped stabilize the real estate market. As the crackdown commences, we can expect to see a boom in bored mistresses and empty salons.