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People often forget that foreign realestate investment is often a way to offshore money to keep it away from _local_ (to the investor) governments. Keeping $2M
by maerF0x0 10y ago
People often forget that foreign realestate investment is often a way to offshore money to keep it away from _local_ (to the investor) governments. Keeping $2M away from the PRC is probably worth $300k if you fear it will be entirely taken away from you.
The main thing this accomplishes is:
1. It allows the current administration to claim they're doing something.
2. It gives funds to the current administration that can be used for things like politician pay raises, additional government worker benefits, and maybe, just maybe, some roads too.
- vkou 10y agoAt this point, some government worker benefits would be welcome. BC Teachers have been losing wages to inflation for the past decade and a half. (The raises are lower than the cost of living increases.)
- da989 10y agoThere also aren't enough teaching jobs to go around. If there are more teachers than teaching jobs, teaching wages are still too high.
- vkou 10y agoThere 'aren't enough teaching jobs to go around' because the government has increased class sizes, dumped special needs students in with the general student body, and has closed down a large number of schools. More work, less pay, worse public outcomes. Neo-liberalism in a nutshell. Mind you, BC is still much better off then many US states in this respect. Mind you, as it is not a petrostate, BC also needs a functioning education system more than some of its neighbours. I don't expect that teachers will see any of this money, of course. It'll probably go towards worthless crown corporations like ICBC.