Sean: Alright. We see that China is really growing, becoming a superpower. What are your thoughts on investing in China? Do you have China companies in your portfolios as well?

Marvin: I have none. But if I know how to speak Mandarin, I will study how to speak Mandarin. Almost all of the investors I follow, they are saying the same things, China, China, China, China, China, China, China, China. Of course, the US won't be out but China’s taking over, I think so. And also, they are very aggressive. I don’t know, they are like the Western, very upfront, very direct. I have to pay first, they are like that. Then they are also like, let’s close this deal, sign it, then pay the next day. In the Philippines, you talk about the payment last so you still have to collect it from them. While with China, you really have to pay right away.

Am I right JC? You’re nodding because they are really like that. And then most of them studied in Europe so they brought the culture of the Chinese with them and they learned a lot from Western ideologies. I don’t have Chinese investments right now, but I think it’s the future. But also, for example, my investments in the US, they have exposures in China. People have to understand that, for example, you invested in Tesla, and it has a Gigafactory in China. You invest in Apple, their biggest manufacturing also is in China. So even if it’s in the US that you invested in, somehow, it has exposure in China.

The interesting thing is, I forgot to tell you, China before was the largest factory in the world. Now, they're not just the largest factory in the world, they are also the largest marketplace. That’s why the NBA lost a big amount from their revenue because of a comment against China. They also lost a lot of money because China is one of the largest marketplaces in the world already. That’s why many people are mad at LeBron James because he gave a lot of comments about US freedom but freedom in Hong Kong. Things like that. But they don’t want to spoil their relationship with China. That’s how big the revenue that the companies get from China or at least other businesses.

Sean: So there was a player who commented about China?

Marvin: General Manager.

JC: General Manager.

Marvin: Actually it’s not even China. He just commented, “We stand with Hong Kong”, something like that. That was his only comment but all the games were canceled.

JC: And then the NBA, I think it was the commissioner, supported freedom of speech but did not directly state that he was against China. And then it’s too much. They didn’t allow all the TV shows, not just the pre-season games, they didn't allow the games to be telecasted in China, which is a huge amount of money.

Marvin: Yes, that’s how big it was. They lost a lot. So that’s how the big brands are scared of China. That’s how big China is. China is a threat for them.

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