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Thank you for your insight into how easy it is to be a rich foreigner in a country where per capita income is roughly 10% of what it is in the US. China has ve

Thank you for your insight into how easy it is to be a rich foreigner in a country where per capita income is roughly 10% of what it is in the US. China has very very real issues that they haven't addressed in the slightest. They're building tons of real estate that has almost no chance of ever being useful to bump GDP, they're facing domestic unrest in Hong Kong, and they're transitioning into being a more open democratic society. Nobody knows how this is going to work.

contingencies 12y ago
Firstly, 10% per capita means 20% per capita because nobody pays tax. Secondly, nobody knows the real numbers because it's largely a cash economy. US real estate is largely empty too. People here don't need cars to live, and overheads on everything are far lower, so 20% per capita is actually a much nicer life than in the US. Say you have $20 per day, you can live really fine here. People are supported in retirement by their families, who they continue to live with, so there's no need to save as much beyond your children's education. Hong Kong 'unrest' is irrelevant to mainland China, except to show that the government has already vastly improved its capacity to respond to such situations. Everyone here knows exactly 'how its going to work': the Communist Party will stay in power.