Forums > Living in Kunming > Who will win the World Cup? Portugal got smashed! But I believe they will pick themselves up and soldier on through to the final. Still reckon Brazil-Portugal final :-p
But man they played poorly. That defence was shocking. Half the time they looked like they were standing around with their hands in their pockets. But that red card was just silly, jeez ref, what were you thinking?
Forums > Living in Kunming > Living in Dianchi Road or KIA/Guandu neighborhoods Oh, the sign outside might be in Chinese "Ji wei ka fei" or something according to my wifey. They also had some tom yum soup there which was quite good too.
I must be getting old, I can only remember eating tom yum soup and pizza there... I am sure I didn't have these together! They have upstairs/downstairs dining and their menu is both English and Chinese.
Forums > Living in Kunming > Living in Dianchi Road or KIA/Guandu neighborhoods Uhh, I think its called "Kiwi Cafe", when you turn the corner away from KIA so you are standing in front of WB South's entrance, then just walk down the road about another 20m. Its in the same block of shops on the end. Their pizza is pretty good value and pretty tasty, the Chef and owner is a Chinese guy trained in NZ by the look of the qualifications posted inside.
Surely others must know about this place, I didn't just dream it did I? Its not in the listings yet, Yereth asked me to get some info next time I go, but if anyone gets there first and can confirm the name, opening hours and maybe some pics, email Yereth with the info (through the Contact Us page) and he will list it.
Forums > Food & Drink > McDonald's Wow, just went to gochengdoo.com (thanks Alex) and they have a REVIEWS section! If only GoKM's would come out (apparently been in testing since what... March??? 3 months of testing seems perfectly fine (????)).
(I have never been to McDonalds or any of those crappy food places, except KFC because a friend really wanted to go, so it will be interesting reading!)
Forums > Food & Drink > McDonald's Do it mm, write it up in your blog and compare it to a greasy mi xian! That will be interesting reading, Chinese junk food vs western junk food in China!
Kunming subway train derails, killing one
发布者I think we would be upset if something disastrous didn't happen! Wonder if you could make a business selling subway survival suits... some sort of step into suit with tonnes of pillows sewn to the outside and a huge helmet. The suit could be strapped to the inside of the train in case of sudden changes in speed as a result of derailment!
Kunming subway train derails, killing one
发布者Someone should do a video on the extreme sport of riding subways in China. "At anytime, this train could jump off the tracks, or a support column could collapse, or a parking building could fall down... this is dofu dregg construction... this is EXTREME SUBWAY RIDING"... and then just be sitting on the subway, looking worried. You could string it together with heaps of radical camera movements and some slowed down footage of stepping onto the train.
Whose game to ride the subway in the first 6 months?
Kunming new home sales plunge
发布者Oh yeah, check out this world map affordability index:
www.numbeo.com/property-investment/gmaps_rankings.jsp?year=2012
Kunming new home sales plunge
发布者I can't find any decent info on Kunming regarding house prices, but we could definitely guesstimate a little.
Current house prices come in about 8600-9500 per msq. Average house size, say 2 bedrooms would be around 60 sqm = 516K-570K kuai.
Average salary is around 2500 kuai a month = 32,500 kuai a year (assuming 13 months, common to be paid an extra month for chun jie). Median multiple ration approx 16:1 - internationally still unaffordable. Remember that historically, until recently, the international median multiple ratio was 3:1!
How close am I?
Kunming new home sales plunge
发布者tallamerican touches on the things that I am talking about.
The banks in America were doing some rather disturbing lending, lending over up to or over 100% of property values based on the idea that property values would always rise. I know because I worked with the heads of lending for a bank in NZ - they would often go to big conferences and hear what others were doing. These banks were delusional about house prices, believing they would always rise is failing to see that real estate is simply another capitalist based market, which means it will work in boom/bust cycles, the magnitude of the cycles usually being decided by speculators.
China is in a situation now where its economy is growing and has been for a good long while now. Their economic growth has resulted in massive infrastructure and housing development. But the market is now both saturated with new houses and suffering from a lack of real buyers - people that will live in and own the house. It is being driven by speculation from rich people who own many houses as investments, most of them have the same belief that real estate prices will only ever go one way, partly because for the past 20-40 years thats what it has done. At the same time Chinese growth is slowing, while still outstripping the west by a long way, a large chunk of the growth comes from one market - real estate. Add to this Chinas rising personal credit and you have potential for house price catastrophe.
The prices also speak for themselves. The median multiple ratio in China is beginning to be rather ridiculous (this measure median income to median property value). In my country, this is over 8:1 (8 times the median income to get the median house price) which is considered "unaffordable". In many Chinese cities this ratio is 20+:1, ridiculously unaffordable. In a place like Singapore or HK this is OK due to extremely limited land and such high demand for it, but in a place like Kunming... that sort of ratio will guarantee one thing - empty buildings.
This from the guy that predicted the housing market collapse in the US and the recession:
"No country can be productive enough to reinvest 50% of GDP in new capital stock without eventually facing immense overcapacity and a staggering non-performing loan problem. China is rife with overinvestment in physical capital, infrastructure and property. To a visitor, this is evident in sleek but empty airports and bullet trains, highways to nowhere, thousands of colossal new central and provincial government buildings, ghost towns and brand new aluminium smelters kept closed to prevent global prices from plunging."
At the same time though I completely agree with Danmairen:
"...predicting what's going to happen in China it's a bit like putting on a blindfold, aim, and hope the dart ends up somewhere in the general direction of the board"