In 10years, a middle class and even low middle class chinese will live like a King in holidays in the States
They already are. You should see the Chinese students at a local University in my neck of the woods. It's a fairly prestigious University, and costs a pretty penny to attend. The tuition has gone up astronomically in the last 15 years. Even as recently as 6 years ago there were very few non-Caucasians and minorities on campus. Now it's completely taking over by rich Chinese and Korean kids, driving around in their (paid for) Mercedes, Lexus, and BMWs. The campus is now unrecognizable, as Caucasians and all the other groups are now the minority there. You'd think it was a school just for Asians.
The local high-end car dealerships say that they sell about 80% of their cars now to the Asian kids attending this University, and have even started to market directly to them.
Just goes to show, you need to work harder.
Actually these Asian kids didn't work for this money. It's their parent's money, they wire it to them to spend in the States. Mommy and daddy didn't do anything amazing either, they simply bought real estate in China 10-15 years ago (really the only investment the Chinese gov't will allow their citizens to invest in), sat on it, and made a killer return. It was easy money. All of it fake wealth of course, because their real estate market is now in a bubble. Also the Chinese gov't artificially devalues the Yuan so that they can keep exports high and keep in-sourcing work.
But they can't keep this up forever, and when it all implodes then their citizens will be royally fked. So will their kids.
It is the same when US in the early development stage. Land were given away freely for anyone willing to develop it and add value to it.
Same story in China regarding real estate. And China wealth is backed by real labor and real production, not just real estate.
