Canada Overwhelmed By 100000 Chinese Millionaire Immigrants

Chinas Millionaire Migration A wave of Chinese millionaire immigrants are making property prices unaffordable in Canada A report by SBS Dateline

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The Activist Organising Chinas Biggest Labour Strikes Well Can Sweden Cope With Its Huge Number of Iraqi The Changing Face Of Superpower to journeyman for daily uploads downloads and more information us on us on Twitter us on 100000 Chinese millionaires have moved to Vancouver sparking everything from a reality show to a property boom and unaffordable housing Are Canadas millionaire migrants a blessing or a curse

For the glamorous and beautiful second generation millionaires - or fuerdai of Chinese descent - Vancouver is a home away from home Vancouver is caught changing from a Canadian to a Chinese town For myself Im caught in between Chinese and Canadian says Chelsea Jiang one of the young stars of hit reality show Ultra Rich Asian Girls Their lavish spending and lives of luxury are transforming the landscape of Canadas coastal city The Chinese brought you great food and better economy whats there to complain about asks Jiang who benefited from Canadas immigrant investment program It incentivised foreigners with at least 16 million Canadian Dollars to come to Canada But despite their wealth and purchasing power the program was cancelled and is seen as responsible for making Vancouver the second least affordable city in the world Clearly the immigrant investor program has just been an abject failure in terms of fostering economic growth and in terms of fostering business growth and jobs says local journalist Ian Young This isnt really an issue about race this is an issue about wealth he says

SBS Australia – Ref 6799

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