Let’s Toast China’s President, California’s Savior
Thanks to Xi Jinping, Chinese Millionaires Have Propped Up the State’s Sagging Real Estate Market, Universities, and Companies
Dear President Xi Jinping,
This is a thank you note from California.
Thank you, first off, for sustaining our neighborhoods through these last difficult years. Thank you for keeping wealthy Chinese so nervous about your purges of political opponents—I’m sorry, I mean your anti-corruption campaigns—that they are buying up real estate all over California. More than half of all U.S. home purchases by Chinese buyers are in the Golden State, and two-thirds of your country’s millionaires have emigrated or plan to do so, according to a Chinese magazine In the San Gabriel …
