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According to Global News Canada, Chinese organised crime laundered around $1 billion through Vancouver property in 2016, and $5 billion since 2012, and this partly explains Vancouver’s explosive price growth:
The study findings, obtained by Global News, are a startling look at what police believe to be the massive money laundering occurring in the Vancouver-area real estate market…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.