Regulation

Chinese housing construction does not look excessive relative to the size of its rapidly growing urban population. On average, China's new urban construction has been about 500 units per 1000 new urban citizens in the past 10 years, roughly comparable to other countries, and is much smaller than Korea and Japan during the prime stage of their urbanization process.

Most of the economic arguments in favor of the U.K. leaving the EU do not carry much weight, as we discuss in this collaboration between BCA's <i>Geopolitical Strategy</i> and <i>European Investment Strategy</i>. However, the probability is a coin toss - much higher than investors tend to think. We review the geopolitical and investment implications of the "Leave" and "Remain" scenarios.