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Housing affordability in China’s top cities is completely broken. Shenzhen now tops the list at 26x income. Beijing: 22x. Shanghai: 21x. Hong Kong: 16.7x. That means even compared with famously expensive cities like Sydney (13.8x), San Jose (11.4x), Vancouver (11.8x), and London (8.1x), China’s biggest urban centers look far more stretched. This is what happens when housing stops being shelter and becomes the core speculative asset of an entire economic model. The real story is what this says about distorted capital allocation, crushed household balance sheets, and why the property downturn is such a structural threat to China’s economy.

👍The British on London streets captivated by Chinese towels. @salahzhang @consulat_de @zhang_heqing @pan_xuesong @xuejianosaka @YDunhai @CG_WangBaodong #London# #MadeinChina# #British# #towels# #reels#

Elon Musk's SpaceX is preparing for what could become the largest IPO in human history At a staggering $1.75 trillion valuation, SpaceX would be worth more than all American defense contractors combined, more than The Coca-Cola Company, McDonald's, The Walt Disney Company, Nike, and Starbucks combined, and even more valuable than the ten largest companies listed on the London Stock Exchange

Streamer and political commentator Hasan Piker says he has been barred from entering the UK after his travel authorization was revoked by the Home Office. UK officials said the decision was made because his presence “may not be conducive to the public good,” a legal standard used to deny entry to foreign nationals. Piker was due to attend several public events in London. He thinks it's because of his political views and criticism of Israel’s actions in Gaza.