Earlier quoted context omitted.
The United States was once seen as uncultured, unrefined, and frankly quite weak by most of Western Europe until the late 1800's. And in many respects it was. Now the US is the richest country in the world, and is where wealthy non-Americans send their children and make land investments. My point is that trajectory is more relevant to these discussions than current state of affairs. The quality of life of the average…
Well, unless you include air pollution, then quality of life isn’t better, especially in Beijing. Also, even if housing forsake prices in Beijing are at New York levels, rents are just at Wichita levels. No foreigner is going to buy into that level of crazy, especially when buying property in china accords them no residency benefits (they will never get hukou, heck, green cards basically don’t exist).
I think pollution in China will likely be a non issue in 10-20 years or so. Pittsburg used to be like Beijing, but as the National economy shifted away from industries causing pollution, it disappeared entirely. China is in the midst of this process.