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I Am Canadian, Beijing Is Getting Very Pricey, and It Is Awesome News!

I Am Canadian, Beijing Is Getting Very Pricey, and It Is Awesome News! I am presently in Beijing. This is my 26 th journey to Asia considering that 2007 and my 9th time to visit mainland China. I have a pastime of choosing long walks daily, typically for 20 to 30 kms. I use this […]

I Am Canadian, Beijing Is Getting Very Pricey, and It Is Awesome News!

I Am Canadian, Beijing Is Getting Very Pricey, and It Is Awesome News!

I am presently in Beijing. This is my 26 th journey to Asia considering that 2007 and my 9th time to visit mainland China. I have a pastime of choosing long walks daily, typically for 20 to 30 kms. I use this time on meditating on and pondering my observations. Whenever I am in a foreign country, it always fascinates me to look at comparable goods and services and compare the prices to those in my home in Canada. I have had some sticker shock on my existing trip, and wished to see if I could back up my sense of the prices. On this journey, I observed that dining just appears to be actually pricey and hotels have actually been similarly priced to those in New York City or London. It is certainly more affordable to stay in Singapore or Hong Kong.

I was dealing with a project and chose to take a break, so I took a two-hour walk from my hotel to Tiananmen Square. Throughout my walk, I considered the following questions:

1. Is this for real, or is it simply my memory? Maybe it just seems more pricey and maybe I have just forgotten it?

2. I do not like investing more than I need to, however is this a good or a bad thing for me economically?

3. How can I take advantage of this?

I am presently back at the hotel in the executive lounge with Qian having a glass of wine while we both have our laptops out on a table working individually prior to we choose supper at Hou Hai. I am reminded of the Financial expert magazine’s Huge Mac Index that prices the popular junk food items in 58 countries since2006 When I initially started traveling to mainland China, the research study confirmed that in 2007, a Huge Mac in China cost $1.33 Canadian dollars. Today, it costs $3.56, that is a significant increase of 266%! The rate boost represents the inflation arising from the rapid growth of the Chinese economy and the approximately 35% decrease in the Canadian dollar compared to the RMB. After close analysis, my feelings were ideal it wasn’t simply my memory. There actually has actually been a tremendous cost increase in less than ten years.

The first question took some analysis to address, while the other 2 took about a minute of thought. For business like Eiffel Peak, it is a considerable time. The advisory services that we offer to Chinese business on transactions are at a 35% discount compared to the past, due to the decline in the Canadian dollar compared to the RMB. This was throughout a time when Chinese companies have more capital than ever for allocation to advisory services.

The second is the purchasing power of Chinese people due to the increased worth of their possessions. This was likewise at a time when there are many underestimated assets or companies. As an example, since 2007, numerous realty assets in China have quadrupled in worth; a condo in Beijing is much more costly than a condo in Vancouver. Nonetheless, a Canadian blue chip, Asian regulated business such as Husky Energy is readily available for an existing cost 60% lower than its ten-year high. This will continue to spur remarkable investment in Canada by Chinese financiers which is excellent for companies like Eiffel Peak.

Therefore, the realization I developed after my walk is this: I am Canadian, Beijing is getting more pricey, and it is remarkable news!

 

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I Am Canadian, Beijing Is Getting Very Pricey, and It Is Awesome News! 2

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