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influencial Emperor’s power being eroded in a great deal Is the Growth of 2022year Sustainable? Is it possible to break the boombust cycle now? ? Globalization ? Technology advance (4) How Long Will China Play Catchup? How Long Will China Play Catchup? In last 130 years, the growth rate of GDP per capita ? In Britain % (double in ~40 years) ? In USA % (double in ~32 years) ? In Japan % (double in ~26 years) 9% (8 times in ~25 years) from 19501970 How Long Will China Play Catchup? How Long Will China Play Catchup? ? USA: 3% China: 10% ? the growth rate is ~7% faster ? 72/7~10 years to reduce the difference by half ? ~32=2^5 times difference in GDP per capita ? GDP per capita: 50 years to catch up ? GDP (population 4 times diff.): 30 years to catch up (5) 房價為什么會漲 ? 按揭 Mortgage Property tax + insurance + monthly payment ? Buffett ? Microsoft, Intel ? Walmart ? Bestbuy ? Short 放空 ? Margin 融資 ? 漲跌幅限制