Molson Hart

really unambitious, I find. Smart, capable, maybe even hard-working, but...there is no capitalist killer instinct. Surely Hungary, with all its psychological empty land, should be better than easy-life for past 100+ years America? But it's not like that.

You're making a lot of good points but a lot of it has nothing to do with what i meant. 1. I wasn't really talking about land prices. I was talking about the overall development of a region. Let's say we use GDP per capita as a proxy (i know it's a shitty metric).

Initially the USA was underdeveloped compared to Europe but the entrepreneurial people flocked here and changed it. Now China is still lower in terms of GDP per capita but as you said people move back. Obviously being underdeveloped is not enough, sometimes it's a bad signal.

As for Hungary, yeah i don't know. There's definitely issues with mentality there you're right about that. For me the most interesting question is why post communist China is doing better in this sense than post communist East EU. That part is probably more about culture.

I don't think it is though. Maybe some regions of it but as a whole? The GDP per capita diff is like 5x. Would that all be just the reserve currency effect?

I don’t know but the economy definitely feels way bigger when you’re there. There’s a dynamism and an energy that we don’t have anymore. Again I feel like what you’re describing is better described by different things, ie fewer anti business regulations.

Yeah Singapore feels the same (though probably to a lesser extent). I'm just not sure if in the case of China it's specific to a few cities or the country as a whole.