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China also has a population crisis. Korean is experiencing it too.

On the topic of EV We used Didi (Chinese uber) a lot and each and everyone of them was driving an electric car, mainly BYD and Aeion Good looking cars, decent quality, modern, nothing wrong with them at all

Thanks, Chris!

Australia is sheer ridiculous. Theres a statistic I remember reading that house prices in Australia has gone up 76 times since 1982. Not 76%, 76 times! I'm an aussie millennial and its completely ridiculous. Cheers Minister Chris for even acknowledging it. Politicians dont even mention the housing affordability crisis. See you at the next Anonymous Musk meeting. Cheers.

I was in Kunming a month ago Kunming South is a brand new city with a brand new business district It is also completely empty, on a Monday there was no traffic at all. No cars, no pedestrians, no delivery trucks, nothing 50% of the new high rises are empty and 80% of the youth is unemployed as all the construction (and adjacent) jobs have disappeared. Prices have dropped from 10k per m² to 5k per m²

In the US market, there is very little new construction, while in China, there is still quite a bit. The US market is dead because of high interest rates for mortgages so the only buyers are bargain hunters and those with enough wealth to pay cash. I mean why would you allow a bank to make 7% on a mortgage? In China, the default and failure of very large developers started this stampede to the bottom. There are speculators borrowing in the gray market trying to flip houses but they are now bankrupt. Homeowners that lost their job are in a bind as they can't make mortgage payments. However, there is a huge group of older people who have no mortgage that are sitting tight because their homes were either free or very cheap when Deng allowed private home ownership instead of the state owning the home. So, for the Chinese, they can see their situation is similar to the US in 2008 where mortgages were turned into stocks and leveraged to the moon with derivatives. When the job market got soft, those with zero down, just walked away and left the banks holding the bag, Lehman Bros, was the poster boy of this carnage. One can probably expect the same with smaller banks in China. The biggest victims in China are the younger Chinese who have lost their job and have a mortgage they cannot pay.

In the communist system, "According to the Constitution and the land laws, Chinese individuals cannot privately own land and natural resources. The Constitution provides that land in urban areas must be owned by the state, whereas land in rural and suburban areas must be owned by the state or by local collectives."

Sweden is still pretty good. Our equivalent to the FED and the government to control of the lending levels years ago and demand is still far greater then the supply. Rates are still high but coming down. We hade a crash in 1994 that changed how we do things.

I live in the suburb and they are building multi level housing. Who lives in these housing? I can see it in a heavy populated cities but these look like 15 minute cities where units are on top and businesses are on the first floor

Hi Chris! Did you do a video on Evergrande?

Yes it's global. Portugal here. The housing market is hiper expensive. Luckily i bought my home in 2004, people looking for their first home are in a hard place because salaries are low here... I don't think you are "so" stupid at all Chris... 😂

Numerology, feng shui, and superstitious beliefs are still very common in China. A lot of people make big life decisions on superstition, like a lot of gamblers, especially sports gamblers.

Asian Economic Crisis 2