“What do the new Chinese believe?: Science and Superstition” – Musings from an Australian Perspective

A large part of Chinese superstitious beliefs is tied up in numerology – lucky numbers and unlucky numbers. I talked about it before in Rich Chinese ; crazy things are done and large amounts of money is spent to get the right numbers and avoid the bad ones. Barry Li, author of The New Chinese: How they are changing Australia recounts a story of a Sydney house that failed to achieve the same ludicrous selling price as other Sydney properties, all because it had the street number of 74 (it probably still sold for other 1million AUD though). With different tonal inflictions, the pronunciation of 74 can easily become ‘wife dies’, ‘angry to death’ or ‘die together’, so Chinese buyers steered clear. Continue reading

Australian Financial Review

Barry Li - AFR

“The morning Barry Li woke up with the worst hangover of his life was the moment he realised he no longer belonged in China. It was the day after New Year’s Eve 2010, and the young accountant had been pressured into joining colleagues at the Agriculture Bank of China for a formal dinner involving vast quantities of Chinese liquor.”

View full post at: afr.com/lifestyle/arts-and-entertainment
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Smith, Michael. “Barry Li on the new Chinese changing Australia”. The Australian Financial Review. July 28 2017. http://www.afr.com. 

“From the Gold Rush to the Property Rush” – Musings from an Australian Perspective

There are plenty of things being done and still more about the frustration Barry Li shares about homeownership in his book The New Chinese: How They Are Changing Australia.

Foreign homeownership has been an element at the heart of the debate over Australian housing market price increases. The Chinese are regularly blamed for the price hike, purportedly pushing new owners out of the competition, and rising rental prices for lack of availability.

Local Chinese families aren’t immune either, unable to compete with Chinese buyers who are helped by “their entire family, who [have] a lifetime of savings in their pocket boosted by the economic boom”. Continue reading

Real Estate Talk

Interview with Kevin Turner, “How to Attract Chinese Buyers”, RealEstateTalk, July 21st 2017.

Kevin:  In the last 30 years, China has transformed itself into one of the world’s leaders in political, economic, and social relations. With Australia a hotspot for Chinese immigrants, understanding the cultural nuances – both from an Australian and Chinese perspective – is more important than ever.

In his book The New Chinese, author Barry Li has written an essential guide on the history, culture, and mindset of Chinese migrants in Australia. He joins me to talk about the book and the influences on Australia of having Chinese investors.

Barry, thank you very much for your time.

Barry:  Thank you, Kevin, for having me. It’s a pleasure.

Kevin:  That’s okay. Barry, how do Chinese buyers feel about how we discuss their buying Aussie property impacts on our prices?

Barry:  Well, to answer that, Kevin, I need to divide the Chinese into two groups. One is the group who works here and lives here, permanent residents like myself. We make Australian salaries, so it’s as difficult for us to compete with overseas buyers as any Australian. We would feel the comment is unfair, but we totally understand why – because typical Australians can’t tell the difference.

For the second group, the Chinese from overseas, they don’t care about these comments. These comments won’t stop them from buying, because they don’t read our media or our social media.

They only look at things from Weibo and WeChat, which are largely controlled by property developers, and there’s probably only positive news about investing in Australia, which is the reason they buy here. So, that’s the situation.

Listen to the full interview or view the transcript at realestatetalk.com.au

“From the Gold Rush to the Property Rush: Poor Chinese” – Musings from an Australian Perspective

 

“’Rich’ and ‘poor’ are relative terms, of course. Australians are unlikely to meet Chinese people who are living below the poverty threshold. Such people do not have enough money to travel here for a holiday or to study, and they certainly do not have the money to invest in Australian property. In this sense, all the Chinese people you meet in Australia are rich.”

Continue reading

“From the Gold Rush to the Property Rush: Rich Chinese” – Musings from an Australian Perspective

Rich Chinese. Have any two words gone together more smoothly before in the Australian accent? The two seem inseparable while the alternative – Poor Chinese; spoiler alert for the next extract – is an oxymoron. This transcript from a conversation at an Aussie BBQ is about as authentic as it gets:

“Hey, Dazza mate, who bought the big house down the road?”

“Yeah, nah mate, dunno. Probably Chinese.”

Continue reading

Selling to the Chinese: leveraging the “One Child Policy” effect

By Barry Li

Most Australians are familiar with China’s “one child policy”. Enforced around the time of my birth in China three and a half decades ago, this policy evolved into a “two child policy” just a couple of years ago in response to China’s aging population. The policy has been criticised by the Western world since the day it started and likely hated by many Chinese families who’d prefer to have multiple kids. What Australians may not be aware of is that the consequences occurring because of this policy has resulted in the boom of many Australian industries.

View full post at openforum.com.au

“Why Should an Australian Read This Book?” – Musings from an Australian Perspective

Why should I read this book? What a good question, Barry Li.

This is the third part of my elongated discussion of Barry Li’s book The New Chinese: How They Are Changing Australia. The first part was about his parents, then next himself, and now me – yay! (I’m Australian, in case that point’s been missed). But please don’t feel excluded if you’re not an Aussie from DownUnder, because “if you feel you are surrounded by Chinese, or your life is impacted by the Chinese in some way, or you seek to profit from trading with China” then I imagine this book is also for you.

Continue reading

An insider’s view on Chinese buyers

In 2013 my wife and I were looking to buy our first home – something bigger in a nice suburb with a good school nearby. During the inspection for a three-bedroom unit in Killara I said to my wife “Wow, look at this, there’s no other Chinese buyers here. I think we can get this one!” And indeed, we did.

Unlike those cash-loaded, overseas Chinese buyers you see at property auctions, my wife and I are new migrants living on monthly Australian salaries. In addition to the normal frustration of being defeated at auctions by the super-rich Chinese, we also suffer from the common criticism today that “the Chinese” have and are pushing up property prices in Australia. I can’t blame people who put it that way because, the truth is, Chinese home buyers have lots to do with the property market in Australia…

View full post at onlineopinion.com.au