Message from nramon

• As I heard about the growing power of foreign companies what came to mind is conversation I had with a local while I was in China this summer. He spoke about a lot of issues we have talked about in our sessions but what was most salient were his insights on buying real estate and relationships. He spoke to us about his girlfriend and her family and how they were in the market for a house in San Francisco. He mentioned that as a student at the University of Beijing he interacted with a lot of wealthier students whose parents protected their assets by buying homes in the US. When we asked him if his girlfriend would stay in China to live with him, he mentioned that he was not financially stable enough to consider marriage yet. It sounds like unaffordable housing is an issue both in China as well as here in the US, and I wonder what is being in the way of protecting middle class buyers here as well as in China. If we are to have sustainable economies, it is really important to make sure citizens of all social classes are protected because that directly impacts their economic power. This is a critical element to consider as both countries continue to foster closer economic ties.

edited by nramon on 8/2/2016