I've done long trips in China with the family for the past 2 years and have found the same. Add in the amazing infrastructure and this place absolutely crushes what the US and UK can offer in many instances. And I like London, grew up there. The obsession and narrative dominance of the anglosphere is entirely undeserved.
Then we add in the price component and it gets silly especially since quality is now a match or exceed.
There is no mo in domestic consumer and tourism plays but they will be a thing. Macau names now have dividend yields matching their PE for example.
Love it! I couldn't agree more. China is first world travel and third world prices. And the infrastructure is all new. And the optimism in the air is palpable. Once again, maybe it's because of where I travel and stay, but that's true anywhere. Good for the Chinese, great for those willing to venture there. Thanks for a fun write up... and for making me some money in Chinese investments.
Sorry to be the skunk at the garden party, but I am troubled by the surveillance state aspect to it. I don't like the fact that over a million Uyghurs are in forced labor camps. I don't like the CCP and never will, based on stories related to me by a client who survived the cultural revolution in a re-education camp. I don't like that Jimmy Lai is sitting in solitary confinement. I don't like the degree of state-sponsored spying on the U.S. at every level and stealing our IP. I don't like the lack of freedom of the press, and never will.
I have no beef with the Chinese people or their fabulous culture or the contribution they've made to the United States and the world. Nothing but respect. My dislike of China begins and ends with the CCP.
That's all fair. The CCP's antagonistic policies are the biggest headwind for Chinese economic growth. But I also feel like the delta between the West and China is decreasing. On freedom of the press we are constantly criticising China while the UK is rapidly going the wrong way with world leading numbers of arrests for online content. Surveillance will also be on the rise in the West. In the US there is increasing use of facial recognition when getting on international flights.
I've done long trips in China with the family for the past 2 years and have found the same. Add in the amazing infrastructure and this place absolutely crushes what the US and UK can offer in many instances. And I like London, grew up there. The obsession and narrative dominance of the anglosphere is entirely undeserved.
Then we add in the price component and it gets silly especially since quality is now a match or exceed.
There is no mo in domestic consumer and tourism plays but they will be a thing. Macau names now have dividend yields matching their PE for example.
Next time try a sichuan or yunnan adventure !
I’m glad you see the same thing.
https://www.businesstimes.com.sg/lifestyle/us140000-evs-and-heritage-gold-rise-chinas-homegrown-luxury-market?utm_campaign=li&utm_medium=social-organic&utm_source=linkedin
tangent to the IDGAF / independent cultural preferences
Love it! I couldn't agree more. China is first world travel and third world prices. And the infrastructure is all new. And the optimism in the air is palpable. Once again, maybe it's because of where I travel and stay, but that's true anywhere. Good for the Chinese, great for those willing to venture there. Thanks for a fun write up... and for making me some money in Chinese investments.
Thank you Andy. Which ones do you own?
Baidu and Tencent
Sorry to be the skunk at the garden party, but I am troubled by the surveillance state aspect to it. I don't like the fact that over a million Uyghurs are in forced labor camps. I don't like the CCP and never will, based on stories related to me by a client who survived the cultural revolution in a re-education camp. I don't like that Jimmy Lai is sitting in solitary confinement. I don't like the degree of state-sponsored spying on the U.S. at every level and stealing our IP. I don't like the lack of freedom of the press, and never will.
I have no beef with the Chinese people or their fabulous culture or the contribution they've made to the United States and the world. Nothing but respect. My dislike of China begins and ends with the CCP.
That's all fair. The CCP's antagonistic policies are the biggest headwind for Chinese economic growth. But I also feel like the delta between the West and China is decreasing. On freedom of the press we are constantly criticising China while the UK is rapidly going the wrong way with world leading numbers of arrests for online content. Surveillance will also be on the rise in the West. In the US there is increasing use of facial recognition when getting on international flights.
fun and informative piece!
i am headed over soon for work/setting up a clinical trial, but am going to add a few days for fun.
thanks for the roadmap, erik.
Have a great time! And let us know if you get any investment ideas.