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Trey Whitfield
202 posts

Trey Whitfield
@TreyWhitfield_
Focused on real estate, infrastructure, trade and the physical layer of the global economy. Sharing insights across continents and cultures. HKU/NYU Stern/PKU.
Hong Kong Katılım Mayıs 2025
193 Takip Edilen24 Takipçiler

@ScottyIsAbroad Sam’s Club actually has decent pizza and burgers lol
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@Charlie_Bowsher Hot take but I like Chongqing more than Shanghai personally.
Chengdu is fun as well, highly recommend the Sanxingdui museum.
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Won't lie, before going to Chongqing, China I was a bit nervous.
It's the cyber-punk city that's gone mega-viral on Instagram over the past year and I was worried it would be a bit of a caricature of itself.
A few nice photo spots and video opportunities and not a lot around that. Thankfully, I was massively wrong.
Worth a visit for the skyline alone, it's hard to believe this place exists(ed) and there isn't more said about it.
Casually knocking in a population of 30m people - you felt that over the public holiday. It's also held as a 'spice capital' of China and word to the wise, a 3 chili scale is not comparable to being able to handle hot off the Nando's menu...
Super-welcoming people, had many drinks bought for me in the name of 'welcome to China' and came away 15 WeChat IDs stronger.
Highlights:
• Raffles Skywalk - thought it was an observation deck, turns out you're harnessed up walking on a ledge on top of a skyscraper with a straight view down. Still recovering...
• Air-Raid hotpot - They've turned WW2 air-raid shelters into hotpot restaurants and it's very cool and atmospheric.
• Huangyu BBQ - It's the famous one that overlooks the city. Get there early and wait until sunset and when the lights come on - jaw dropping.
Looking forward to the next trip, eyes on Chengdu for the next stop.

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Specifically for each city:
Shanghai - great to live in but not that much to see as a tourist aside from the bund. Everything else people go there to see is better in other cities in China.
Dali - not many foreigners go but I’ve heard quite a few say it’s one of their favorite cities in China. I didn’t see the appeal and felt it was a bit over touristy and inferior to other cities in Yunnan.
Shenzhen - again great to live in but literally nothing worth going out of your way to see as a tourist
Chengdu - cool city with some nice history but the other parts of Sichuan are much more interesting. Serves as a good base to explore other parts but that’s it.
I think in general they’re all very nice cities but from a tourist POV not much unique stuff I’d tell people to go out of their way for.
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@TreyWhitfield_ Apart of nr 1 why are these cities overrated?
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After visiting 40+ cities in China, my top 5 most overrated are (from a tourist perspective):
1. Macau 澳门
2. Shenzhen 深圳
3. Dali 大理
4. Chengdu 成都
5. Shanghai 上海
China (and these destinations) are still globally underrated, but for foreigners going to China I find them a bit overrated.
All these cities are objectively pretty cool, but some (especially SH/SZ) are much better for living than visiting.
Curious to hear thoughts on these and others.
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@OctanePSD It’s a very unique city and the old colonial/portuguese influences are interesting. But you can basically cover everything in a day.
A lot more sterile than Vegas and more for serious gamblers instead of leisure, shows, and entertainment.
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@TreyWhitfield_ I’ve never been to Macau, but from an outsider’s perspective it seems like there isn’t a lot more to it than the casino industry
I could be completely wrong though
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@CurtExplores I always joke with my NYC friends that HK is NYC if society functioned properly
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@thebeautyofsaas Definitely. At home I prefer blackout curtains but this is a game changer when traveling.
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People in these positions get a skewed idea of what “average” is because they only hang around certain circles.
The average (median) person in the US doesn’t have a bachelors degree. Let alone one from an Ivy League or equivalent.
Helps to look at the data but also to meet people from different backgrounds.
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Would argue that this is absolutely false
If you work at a mega fund private equity, you most likely
> went to an Ivy League or equivalent school
> managed to earn a decent top quartile GPA while also being in finance clubs and multiple internships
> made it into investment banking at a top shop and earned a return offer after your internship
> made it through at least 1-2 years of investment banking working 80 hours a week
Compared to the average person, the IQ of a mega fund private equity associate is absolutely higher. Even if you don’t believe that, there is no question they have better work ethic
They might not be the top 0.1% solving rocket science or quantum computing problems, but they are not dumb by any means

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@miao_zimikou @chinafutureclub Yeah even within HK if youre willing to live on the outskirts or islands you can get more space for a decent price
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@TreyWhitfield_ @chinafutureclub The housing problem in Hong Kong is indeed very serious, but you can choose to live in the neighboring city. The house is modern and very cheap compared with Hong Kong. The length of commuting time is similar to that in Tokyo. If you get used to it, the problem is not serious.
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@Natcromancer I didn’t find SG nearly as walkable as other comparable cities in Asia
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@dpoadpok @chinafutureclub I’ve lived here for the past 4 years.
The living spaces are small (not bathroom size lol) but it’s made up for by the abundance of great, quality, and affordable things to do outside your house.
I would also say that compared to NYC or London the housing situation isn’t so bad
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@TreyWhitfield_ @chinafutureclub Hong Kong is 'nice' for tourists, but living conditions are extremely bad. The average apartment is the size of a bathroom in normal countries.
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@roketnut5 @chinafutureclub Yep there’s some objective factors like safety/prices/infrastructure but once the basics are covered there’s many differently weighted variables that, like you said, change with time.
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@TreyWhitfield_ @chinafutureclub I like a quiet neighborhood. Good public schools and less urban density. My point is your definition is not a proclamation. It’s your opinion. Which by the way changes as you age.
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@PlanBpassport What’s the curriculum at the school? Is this an international school (eg IB/A-levels)?
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@HistorianZhang When I was at PKU the breakfast hours were only 6-9am. Found it quite surprising for a college campus.
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One year I was chatting with mainland students who just got here for their program and one of the common points of shock was breakfast only starting from 7 and lasts till like 11
Alex Recouso@recouso
Okay guys, had a few cultural shocks in Spain: > Go to the gym, opens 10am on a Sunday > Go to work from a coworking, closed > Go to a coffee shop, no wifi Absolutely unthinkable in a barely productive economy like the US, yet alone UAE. Europe is a daylight museum.
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@chinafutureclub Very valid. I think many different cities in Asia can take the top spot depending on what factors one values.
I like HK for the public transport, density, nature, diversity/internationalism, business environment, etc.
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@TreyWhitfield_ HK is too rough. The roads are ridiculous, concrete slabs and broken pavements
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@shaunrein Hong Kong is perhaps the easiest place in the world from a navigating business and bureaucracy perspective.
It feels like the government is here to actually help you get things done instead of getting in the way.
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Hong Kong is dead! Well, that's what Stephen Roach, ex-Chairman of Morgan Stanley Asia & Yale professor declared. Since then, HK became the world's largest IPO market in 2025 & so far in 2026
HK is far from dead. There are few places anywhere in the world that is so efficient for dealmakers and white collar workers to make money
Last week I was in HK to sit on a panel. In one day I had dinner with the billionaire founder of one of the world's largest private equity firms, chatted and took photos with the billionaire chairman of one of the world's largest real estate developers, talked with the anchor of a top tv show, lunched with the founder of a digital marketing company, sat for an interview with a journalist from a leading publication, had breakfast with the celebrity founder of a lifestyle company.
And that doesn't include the coffees and short chats I had with dozens of hedge fund, bankers at a cocktail party headlined by the former PM of a medium sized country
Only NY might be able to rival the efficiency but HK has far less taxes. Far far less
HK isn't dead. It's electric. Here's me eating in Kowloon. Many mandarin speakers sitting at tables near me. You can see the positive influence mainlanders are having on HK
Instead of being the conduit for western businesses trying to break into the mainland, HK has become the conduit for mainland companies trying to break into overseas markets
Let's be clear, HK's prosperity has always been linked to China's rise, not the "positive" effects of British colonialism and Chris Patten & NYT's Nick Kristof like to rewrite history about.
Now, how did Roach get HK (and China) so wrong? It's largely due to 2 reasons that course through the China Watcher crowd
Roach visits the mainland & HK a few times a year & talks to his old friends & acquaintances. You can't understand a country by fly ins. And Roach, unlike any good analyst, talks to the same circle who are negative on China, mostly affluent people who lost opportunities because of the CPC's laudable goal of building up the middle class by reigning in the excesses of the corrupt wealthy class. You need to travel all around China to get a true pulse. This week I'm crisscrossing Henan, one of the hottest economies in China.
Roach also falls victim to ideological bigotry - he like many other China Watchers cheerlead for China's system when they thought it was adopting capitalism and western style democracy... Essentially they thought China would be more like the west. But China decided to go its own way by blending capitalism with Communism and has been very successful at that.
But for Roach, who has actually spent very little time in mainland, he never quite got China. For him, China failed because it has reformed to try to support the low and middle class, not favor the wealthy like in the US and their web of donors and patrons. But America's system is failing the low & middle class while benefitting the Uber rich like Jeff Bezos, Ken Griffin
Now Roach spends his waning days trying to retain relevance by attacking China's government for not inviting him to events anymore.
Why invite a 3rd class analyst?
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