China - a country where entrepreneurs work around the clock.

A market appears along a street in Kunming, China. Chinese consumers shop into the late night hours along this street most nights.

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[mja2035]

So Econ, What did you like and dislike about China? Would you live there?

[EconCat88]

@mja2035

Most of China is too crowded, too polluted, and too hot. However, Kunming has great weather and the pollution is much less than most other cities. I would live there. Overall, I think China is a great place to operate a business and make a ton of money, but the overall quality of life would be lower.

[ftwbk]

china certainly might have a real estate bubble in certain urban areas but i don't think it exactly resembles our bubble. there might be great losses for some but don't think the mania is as pervasive as it was in the us. also, any idea what is a normal down payment for a mtge. is there and interest rates? also, the vast majority of all that consumer selling there is, as u pointed out, done with cash and not with credit. big difference compared to the states.

[EconCat88]

@ftwbk

The sheer numbers are greater in some ways. 65 million apartments currently are sitting empty, but owned by "investors." 30 BILLION SQ FT of real estate is currently under construction. That # doesn't include what has been recently completed, but unoccupied. It will be interesting how the Chinese react when many realize they have lost money owning real estate. However, as I've stated in the empty mall videos, regardless I do think the Chinese economy will prosper this century.

[ftwbk]

the main point u didn't mention is that 99% or more of those goods being sold are made in china. this is almost the complete opposite of our spending bubble here in the states where we consume stuff made abroad. sure china may have downturns even some as severe as our great depression but they will still be the biggest growth story. 19th century belonged to england, most of the 20th to the us and 21st will be china's.

[EconCat88]

@ftwbk

While I do believe China is going to have a severe correction from their real estate bubble, they will rise from that stronger than ever. Any significant correction or crash in China, investors should push all their chips onto the felt. The subsequent boom will be tremendous.

[ixmicoco]

EN CHINA LOS PRODUCTOS DICEN MADE IN HERE

[chekey1990]

Hello Econ,I like all you videos about Kunming,because I had lived there for six years.Thanks for your record,everytime I watch such vid I just want say I realllllly miss Kunming!!!Are you live there now?

[EWOKCAD]

Love all these chinese videos. Keep it up

[Karlmcguiness]

A late night car boot sale? That is a dream come true for me and my brother.

[mja2035]

@EconCat88 Hello my YT friend, so glad to here from you. Looks like you learned some of the local dialect. I always enjoy your videos and thanks for the reply.

[jettenjetta]

You should video the fake apple stores. This place seems so cool! I want to come visit, Nice lookin women dam!

[jvolstad]

Selling fake products?

[damania]

If a guy in a store can't compete against a guy on a sidewalk, screw him. What that says is the sidewalk economic model is more efficient. The store rents only feed rentiers (those in power), and jack up the prices for everyone else. How much of the money you pay in a restaurant actually goes towards the food?