Online Class Notes (Tibo)

There are some ancient town.

Buildings are made of wood 

They felt nervous and agitated

People buy a house if they want to organize a family, it is a requirement.

Regular people  / the average Joe (casual)

The average clerk cannot buy a house. / cannot afford to buy a house

I think it is unfair for you family to burden your real estate asset.-> it is unfair to let your family take on the burden of buying a house for you / to share that burden with you

It is also very realistic because young people’s salary cannot help them to afford the ideal house. -> It is also very realistic because young people cannot afford the ideal house on their salary alone / it is out of reach for young people if they just rely on their salary 

According to their salary level they can just rent a house. / based on their income level they can only rent.

But for Chinese people view family needs to own a house. -> Chinese people have this idea that each family needs to own a house / you need a house to start a family.

It is helpless to the young people.-> young people feel helpless

They don’t want their family to help them but they have to seek their family’s help.
it is even crueler because young people have to seek the help from their family so to a large extent it is determined at birth.

your birth determines your end.

Young people in Asia they have to get a high score during their education because education and working as a government official are the only two way to escalate their class  -> to move up the social ladder.

in Asia countries all have the same problem.

it is up to CNY6ok per square meter 

People own a house and they compare themselves to rich people just for their house.

Some professors who work in art universities they have to do extra jobs to make ends meet.

Chinese people are not familiar with SVB except entrepreneurs or business people.
Before I only know them because of their connections with startups
Some shareholders are Chinese companies.

They are worried about the whole atmosphere and the financial environment.
They experienced 3 years of Covid, it is hard for them to accumulate cash.

We guess if there is another bank go bankruptcy tomorrow it is possible  -> if another bank goes bankrupt tomorrow it is definitely a possibility.

they announced they did’t have cash in SVB / they announced they didn’t any exposure to SVB

Vocabulary

exposure (n) how affected you are by an event
We had no exposure to SVB because we had no fund there

to live from pay check to pay check (n) having no saving / needing the next salary
A lot of Americans live from paycheck to paycheck

to make ends meet (v) to get enough money to survive
Tom had to work 2 jobs when he moved to San Francisco to make ends meet because rent was so high.

downpayment (n) first % of a large sum
In China you have to pay a 30% downpayment when you buy a house

to move up the social ladder (v) to get into a higher class
He studied hard and managed to move up the social ladder

gini index : inequality index
The gini index kept rising over the last few years

to hedge (v) to cover the risk
SVB didn’t hedge heir bet on government bunds

Pronunciation

model

Inflation