The graph above doesn’t explain everything as promised by the headline at Quartz but it does explain one thing pretty well:
This is what it helps explain: slowing global growth (The emerging market investment boom is kaput.); the weakening Chinese economy and currency (Cash is pouring out the middle kingdom.); the relatively strong dollar and the weakness of US exports; the movement of real estate in Vancouver, Sydney and London; the Chinese corporate foreign acquisition spree; the sharp collapse of iron prices; the surging prices of gold; and, on and on and on.
I’d say that the graph, along with the Panamanian Papers which add to the evidence, that China’s elite is getting their ill-gotten gains out of the country while they can. And they aren’t alone; Brazil’s elite is doing the same thing.
The Sheraton Hotels were recently purchased by the Chinese. Their financial interactions in buying property is also typified by full price, all cash purchase agreements — something most Americans find difficult to compete with in the housing market.