Very true. I go to Asia once a year (going for new year). Hotels there are more expensive than in LA. Shanghai and Beijing are changing fast. The Shanghai Urban Planning Museum is simply amazing. Public transport is great. The Mag Lev train is awesome! China is a lot more dynamic than America as everyone is running around looking to make money.
Sure, China is still poor but out of the total population, you have at least 200 million middle and upper income earners. Think of how America was to Europe in the late 1800s.
My good friends who are Chinese and retired sold their home and moved to Beijing to be near their two sons who work there. The sons say that LA is too laid back and when they lived in LA, they didn’t feel driven. BTW, they sold their LA house at the peak and moved all their money to Hong Kong. If they tire of China they’ll be able to move back and buy at 1/2 price. But I doubt they’ll ever come back.
Americans and Europeans are everywhere looking for business opportunities in China.
Read Tom Friedman and be very worried. As America is bogged down in Iraq, China is extending it’s business tentacles around the globe. If you want a good future for your children, make sure they learn Chinese and go on exchange programs in China.
