Loading ...China is paving its ‘belt and road’ to British Columbia
The consul general of the People’s Republic of China in Vancouver extolled how the warehouses could be instrumental in expanding trade between the two countries.
The massive $190 million, 470,000-square-foot complex, dubbed the “World Commodity Trade Center,” is a joint venture between a Chinese state-sponsored company and a local development firm. The centre, first conceived in Beijing, has four warehouses and two large exhibition halls — to be lined with Chinese and Canadian flags — strategically located between Vancouver International Airport and the United States border.
https://biv.com/article/2022/08/chinese-government-launches-belt-and-road-warehouse-surrey
They are building that complex for the equivalent cost of 40 average SFH in Vancouver (land and structure). Just to put that in perspective. I realize industrial land is less expensive.
It will take time to build. We are entering or are in a recession in BC/Canada. There is a lot of inventory that’s not selling. Where does it come from? China. Also, if a shooting war erupts, we will be dragged into it.
The Port of Vancouver is backlogged the same as all the West Coast Ports. A combo of worker shortage and the older truck restrictions. Older than 10 years not allowed to enter the Port. Climate change of course.
I’m reaching that point in life where I don’t require anymore stuff. That goes for most of the Boomers.
We may see the Millennials hit a spending wall soon if interest rates don’t stabilize.