Just got back
from Shanghai.
That country is so amazing.
The scale of that economy
defied that little brain
of mine.
4 years ago,
driving along Pudong,
I saw thousands and thousands
of new condominums
with occupancy rate
of at most 10-15%.
My immediate analysis
was
OVERSUPPLY.
This property market
will crash.
But this time,
those same condominums
are like 99% occupied.
Even more amazing,
I can see its mostly
local Chinese
that are living
in those condos.
I could tell
by the underwear,
bras and panties
hanging by the windows.
It was 10 deg so
the windows were all closed
and they hung their laundry
by the windows
to get some sunlight.
Its stunning
how the size of this economy
could just absorb such supply
and still demand more.
Such a housing situation
would have sent Singapore
into a housing slump
needing decades
to recover.
Our last housing slump,
lasted 9 years.
When I walked around
Old Shanghai,
I did not like it
at first.
Just outside YuYuan,
I felt it was no more
than a fakey Disneyland type
of tourist trap.
Fake old buildings
and salesgirls peddling
fake cultural souvenirs
wearing fake chongsams.
And then I looked around
and realised,
about 95% of Shanghai's tourists
are Mainland Chinese
from other parts of China!!!
Such is this newly created wealth
and the scale of it
is just mind boggling.
Foreigners need not participate
they find it easier and faster
to sell to cash rich Chinese.
The last time I was
at Park 97 disco,
the place was teeming
with angmor men
and local chinese girls
throwing themselves
at them.
Now,
the angmor men
won't even get a look.
The locals were busy
partying
and boozing off
expensive whisky bottles.
Singapore is such
a backward place
by comparison.
Wife found
the grandmother
of factory outlets.
Right on the outskirt
of Shanghai,
with about 240
branded boutiques
and cash rich Mainlanders
walking around with bags
and bags of loot,
typically speaking
so loudly.
I felt like a poor loser
from Singapore,
making mental calculations
on the discount.
And of course,
the 431 kmph Maglev,
the fastest train
in the world.
It was a train ride
worthy of an orgasm.
The Germans built it
for China,
but they don't have
the money to build it
in Germany
although they have
the technology.
They must have thought,
the chinese were stupid
to pay for their technology
and build a train
that runs just 8 minutes
to the airport.
But just watch,
in a few years,
you will see
Chinese made Maglevs
running all over
China.
Not only that,
they will export
these trains too.
Just watch.
