Here's a China story from Southern Europe:
I'm currently living on Kefalonia, a Greek island in the Ionian sea - between Greece and Italy.
This island just recently became "globalized." Large chains from Germany, immigrant workers from Albania, etc... But one really interesting development is the amount of Chinese retail stores selling products from China that have opened up the last 10 years or so.
They are considered the best tenants to have. Many commercial property developers prefer these Chinese stores as tenants. You know why?
Because Mother China covers 80% of their expenses for the first three years of operation. That's a guaranteed rent check every month - even if the store is barely making money!
Needless to say, the local competition is getting crushed.
I'm currently living on Kefalonia, a Greek island in the Ionian sea - between Greece and Italy.
This island just recently became "globalized." Large chains from Germany, immigrant workers from Albania, etc... But one really interesting development is the amount of Chinese retail stores selling products from China that have opened up the last 10 years or so.
They are considered the best tenants to have. Many commercial property developers prefer these Chinese stores as tenants. You know why?
Because Mother China covers 80% of their expenses for the first three years of operation. That's a guaranteed rent check every month - even if the store is barely making money!
Needless to say, the local competition is getting crushed.
