The City That Had Too Much Money: Vancouver was the first place to experience the tidal wave of Chinese cash.
“Proceeds from bribery and drug dealing meet anyone’s definition of dirty money, but what about honestly won fortunes that can leave China only by sidestepping banking rules? To keep the yuan stable and protect foreign currency reserves, China forbids citizens from exporting more than $50,000 a year without government approval. It’s not necessarily Canada’s job to enforce that limit or to punish otherwise law-abiding people who resort to gray-market money transfers.”