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Eastern promises might be empty

If someone had suggested a few years ago that an unknown Chinese businessman was going to buy Italian fashion house Prada or Liverpool Football Club most people would have assumed it was a joke.

But now, in the aftermath of the financial crisis, such interest is not only taken seriously but is also leapt upon and given credence by industry and media alike.

This is due to a common perception that ultra-wealthy Chinese tycoons are scouring the globe for trophy assets – although recent high-profile examples suggest the perception may be somewhat contrary to reality.

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