Last summer we declared that “China’s favorite offshore money laundering hub is officially no longer accepting its money” after the city of Vancouver slapped a 15% tax on foreign real estate buyers. The tax was intended to curb a massive real estate bubble which had resulted from an influx of Chinese money over the preceding years. The move seemingly worked as it resulted in a staggering and immediate 96% drop in foreign buyers (see: Foreign Buying Plummets I