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globalchow Profile picture
@chow_global
May 21 • 6 tweets • 1 min read • Read on X
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@AlexRMcColl @Prominent_Bryan strawman, basically all walking distance areas within transit transit are developed to condos not townhouses

We are talking about places 15 min *drive* from train stations or unis
@AlexRMcColl @Prominent_Bryan I've managed a lot of files where it's small condos without dedicated parking as long as it is within a rapid transit thing

What is the issue is when the developer gets greedy and then tries the same in areas without
@AlexRMcColl @Prominent_Bryan there's an informational asymmetry thing - given the GP / LP structure for most developments you can have LP in the dark about this who committed their $ to a white elephant 🐘 project
@AlexRMcColl @Prominent_Bryan Worse still, LP's are legally barred from sparring with GP's on this (because then legally they become GP's themselves) so they can't defend their interests
@AlexRMcColl @Prominent_Bryan Like I don't have a problem with "let developers do whateverz the market will sort it out" but the predicate is the govt managed the financial regulation part of it effectively so investors in LP's aren't defrauded by shady developers
@AlexRMcColl @Prominent_Bryan @UnrollHelper plz unroll

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More from @chow_global

globalchow Profile picture
Mar 21
A hilarious thing is that despite Canada (or, Canadians) inventing the Mundell-Fleming model of open economy macro, it actually applies much less well to Canada (and arguably New Zealand) then almost any other small open economy
If you go back to the monetary trilemma - a country can have 2 of 3, out of a) independent monetary policy, b) capital mobility, and c) stable (fixed) exchange rate. This was actually invented as a generalization of 1950s Canada floating the CAD in a limited fashion against USD
What we found in the NAFTA era is that Canadian & US economies are so integrated (relative to 1950s baseline, with a much more distinct "branch plant" modality) that underlying assumptions are no longer true for Canada (even as they've become more true for other small open econ)
Read 14 tweets
globalchow Profile picture
Mar 19
one yuuuuuuge misperception underlying gov't policy today is that Canada (or any other jurisdiction) can *unilaterally* drive down housing cost via deregulation or other measures.

it's false. Most of housing cost is either tradables (i.e. priced in USD) or inelastic labour costs
what do i mean by "inelastic labour cost?"

in construction cost, there's labour that's very cyclical (basically stuff where you show up on the work-site and get paid by the day, often in cash) and more complex labour (classic being crane operator)
market for crane (or other complex machinery) operators tend to be "continental" in nature - much more than for long-distance truck drivers, for example

under NAFTA / CUSMA specialized construction labour can flow pretty easily
Read 7 tweets
globalchow Profile picture
Nov 19, 2025
i think one particularly thorny issue in European integration - which is seldom addressed - is the conflict between 2 visions of Europe:

1. A recapitulation of the old great Euro multinational empires (Habsburg, Bourbon, etc.) but along more egalitarian lines
2. a kind of United States of Europe with Western and Eastern euro nations carrying equal weight, which has *never* been tried before (certainly not successfully, viz. Polish-Lithuanian Commonwealth)
you could argue that #1 is analogous to "grossdeutschland" in the 19th century German debate whereas "kleindeutschland" would be #2 (which as we know didn't end well)
Read 7 tweets
globalchow Profile picture
Oct 25, 2025
#deepthought: increasing Chinese civic nationalism probably reflects a secular decline in the importance of gaokao as the country becomes more developed
i think this is the "upstream cause" of both a) strong nationalism of (generally affluent) upper-middle class Chinese who studied abroad, such as in the US; and b) the rise in civic nationalism generally
one thing you notice in the civic nationalism vs pro-western liberalism divide in China is that the latter tend to comprise people who have very strong emotional connections to gaokao, whose entire careers were formed by it
Read 8 tweets
globalchow Profile picture
Oct 21, 2025
I would put it differently: Japan is not accustomed to dealing with the West on a permanently hostile footing, so it has the tendency to buckle at the slightest pressure (Plaza Accord, 1985) in a way hugely disadvantageous to itself
Whereas China has seen what happens when you give in to the West (Opium Wars, foreign concessions, Boxer Indemnity, Liaodong Peninsula, etc.) so it has the atavistic instinct to push back if the West tries to push it around, because it's not a thing that ends at first compromise
Even during it's totally psychotic, expansionary, bloodthirsty phase (1930's), Imperial Japan was basically aggressive toward everyone as opposed to being suspicious of the West specifically. They considered themselves 'honourary whites" or whatever. Shit was really weird lol.
Read 5 tweets
globalchow Profile picture
Oct 12, 2025
this is where i am lol
i think china will take a long time (perhaps an eternity) to reach the living standards of the west; i think china is very bad in many respects; I think despite having a superior consumer culture china is extremely bad on certain aspects of business + professional culture
but that being said, the reality that china is bigger and better in a lot of things is simply undeniable and the longer we delude ourselves about this (or pretend it can be reversed simply via "force of will") the worse off we will be
Read 5 tweets

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