This is an interesting report from Kyodo Wire:Japan may consider regulating real estate purchases in Japan bankrolled with foreign capital, Foreign Minister Seiji Maehara said Sunday, in the face of a recent increase in such purchases by Chinese and South Koreans.
This is a growing worry. The Japanese are experiencing the sluggishness that comes from age, and their neighbours in China are getting richer and richer, so for the same reason the US is paranoid about Chinese money “owning” America, the Japanese feel the same way.
In fact, this was the subject of a NYT report from a few days ago about Chinese developers looking to exploit (relatively) cheap Japanese land.
For locals here, the planned development — vacation homes for rich Chinese — is a welcome infusion of capital into a town that has been in decline since its heyday in the 1980s as a hot spring resort.
But seen from elsewhere in Japan — there have been news accounts in the national media, not all of them accurate — the investment is a menace to the area’s pristine forests and streams, a land grab that threatens the country’s natural resources and a chilling reminder of the expanding shadow cast by China, which recently surpassed Japan to become the world’s second-largest economy after the United States.
Of course, stories of the Chinese takeover of the US continue to seem like a lot of hot air, and that seems to be the case in Japan too.
Here again from the latest Kyodo Wire report:
However, Maehara was also careful to note, “Japan has attracted very little foreign investment. We should carefully consider (the matter) from various perspectives because, without foreign investment, economic activity could be adversely affected.”
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