“The Chinese economy is going to be a dumpster fire in a few more years.”
Despite the idiocy of the socialists, statists and regulators-extraordinaire in this country, our free enterprise system simply cannot be beaten - and for sure not by some Johnnie-come-lately economy without the long-term traditions and institutions that are necessary to a growing and innovative economy.
The majority of Chinese still live like they did a hundred years ago. Out of 1.2 Billion, maybe 300 million live in the somewhat modern part of the country.
and with long term traditions and institutions that are inimical to at least an innovative economy. That is why they put tremendous effort into stealing tech.
Japanese investors bought many high profile properties many years ago, including Pebble Beach. They paid way too much and sold most of the properties at huge discounts not too many years later.
Exactly so.