There’s an old belief that when the Chinese rich start buying up property, you follow the money. You follow it to Vancouver. Sydney. Singapore. London. The usual suspects. But lately, something else is happening—something that doesn’t quite fit the old narrative. Behind the scenes, with far less fanfare than before, wealthy Chinese investors have been quietly buying up real estate in countries that barely registered on the radar five years ago. Places with volatile currencies. Places with geopolitical tensions. Places that, on paper, don’t scream “safe haven.” And yet the...