My Experience in CHINA: Cost of Living, Wealth Gaps & Capitalist Design

Summary

Earn Your Leisure Podcast: Episode Summary

Podcast Information

• Title: Earn Your Leisure
• Hosts: Rashad Bilal and Troy Millings (EYL Network)
• Episode Title: My Experience in CHINA: Cost of Living, Wealth Gaps & Capitalist Design
• Release Date: June 17, 2025
• Description: Earn Your Leisure offers behind-the-scenes financial insights into the entertainment and sports industries, highlights entrepreneurial backstories, breaks down business models, and examines the latest trends in finance. Combining a college business class with pop culture, the podcast provides a unique and engaging look into the world of business.

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1. Introduction to Rashad’s China Experience

The episode delves into Rashad Bilal’s firsthand experiences in China, offering a comprehensive breakdown of his observations regarding the cost of living, wealth disparities, and the underlying capitalist structures. Rashad begins by sharing his initial impressions upon arriving in China, setting the stage for a deeper exploration of the country's socio-economic landscape.

Notable Quote:

"I'll give a full breakdown on market Mondays, because at that time I'll be here for a week already."
[01:20] - Rashad Bilal

2. Public Behavior and Cultural Norms

Rashad highlights a stark contrast between the public demeanor in China compared to the United States. He observes that, unlike the often loud and chaotic public interactions in American cities like New York, Chinese public spaces are noticeably quieter and more subdued.

Key Observations:

• Calm Public Spaces: "Nobody speaks loud publicly. It's almost like Truman show, where it's not in a bad way."

• Patient Society: "Everybody's just walking and they're just taking their time and they're just patient."

Notable Quote:

"Nobody's in a rush to go anywhere... everybody's just chilling."
[02:26] - Rashad Bilal

3. Cost of Living: A Deep Dive

A significant portion of the discussion centers on the cost of living in China, particularly focusing on rent and housing expenses. Rashad contrasts the affordability in China with the high costs in the United States, shedding light on the economic pressures faced by individuals in both countries.

Comparative Insights:

• Affordable Rent in China: A one-bedroom apartment in China costs approximately ¥2,000, which converts to about $175.

• Expensive Housing in the U.S.: In contrast, Rashad notes that similar accommodations in the U.S. can cost around $150,000 to $160,000.

Notable Quotes:

"So she said two. 2,000 for rent, 2,000 for. For a one bedroom... that's $175."
[05:16] - Rashad Bilal

"She said, my interior designer said that same closet in America is 80,000, 85,000."
[06:35] - Rashad Bilal

4. Technological Advancements and Business Landscape

Rashad discusses the burgeoning electric vehicle (EV) industry in China, emphasizing the sheer number of domestic companies competing in the market. He expresses surprise at the prevalence of EV manufacturers and the technological innovations present in Chinese vehicles.

Industry Highlights:

• Electric Vehicle Boom: "There's 20 electric vehicle companies in China."

• Advanced Features: Vehicles equipped with 3D monitor screens and massage seats, akin to high-end models like Maybach Sprinter.

Notable Quote:

"I'm just like, yo, we have 20 different ones. There's 20 different ones. I'm like, damn, that's crazy as hell."
[02:18] - Rashad Bilal

5. Wealth Gaps and Economic Disparities

The hosts explore the underlying wealth gaps and economic structures that contribute to societal behaviors. Rashad points out the disparities between average incomes and living costs, leading to significant financial stress for middle-class individuals.

Discussion Points:

• High Debt-to-Income Ratios: "You're paying 200 for rent, you paying 20,500 for one bedroom and you only making $5,000 a month. You're gonna be stressed out for sure."

• Forced Inflation: Examination of how inflation, driven by capitalist practices, exacerbates the wealth gap.

Notable Quote:

"Forced inflation based off of capitalism, greedy capitalism... if they could have 200 rent and extremely efficient society..."
[05:30] - Rashad Bilal

6. Societal Design and Economic Engineering

Troy Millings contributes to the conversation by critiquing the economic strategies that have led to the current state of affairs in the United States. He references historical economic policies and their long-term impacts on society and the middle class.

Key Insights:

• Economic Hitman Concept: Drawing parallels to the book "Confessions of the Economic Hitman," Troy discusses how economic sanctions and policies designed to benefit certain sectors have inadvertently harmed the middle class.

• International Influence: Emphasizes the need for Americans to develop international exit strategies and reconsider their economic dependencies.

Notable Quote:

"This is done by design. Like you can ruin the society... when I graduated high school in 2000, if you got a two or three hundred thousand dollar house, you were great."
[05:54] - Troy Millings

7. Technology, Manufacturing, and International Trade

Rashad sheds light on China’s role as the manufacturing powerhouse, particularly in home goods. He notes the significant African presence in manufacturing hubs like Fu Shuang, highlighting the global interconnectedness of production and trade.

Discussion Highlights:

• Manufacturing Capital: Fu Shuang is identified as a major center for home goods manufacturing.

• Global Workforce: Approximately 300,000 Africans are involved in business operations, facilitating material exchange between Africa and China.

Notable Quote:

"Black art all over the place and very interesting."
[04:10] - Rashad Bilal

8. Societal Efficiency and Infrastructure

The hosts commend China’s efficiency and well-maintained infrastructure, pointing out the seamless operation of urban environments, including mandatory lunch breaks and designated nap times that contribute to a less stressful daily routine.

Key Points:

• Mandatory Lunch and Nap Times: Structured breaks contribute to overall societal calmness and efficiency.

• Clean and Ordered Cities: High standards of cleanliness and well-maintained highways reflect effective urban planning.

Notable Quote:

"At 12 o' clock everything shuts down for mandatory lunch. And then from one to two, everybody takes a nap."
[07:00] - Rashad Bilal

9. Economic Sustainability and Future Outlook

The episode concludes with a reflection on the sustainability of current economic practices and the importance of adaptive strategies for individuals amidst evolving global economic landscapes. The hosts advocate for awareness and proactive planning to navigate the complexities of modern capitalism.

Final Thoughts:

• International Exit Plans: Encouraging listeners to consider global opportunities to safeguard against domestic economic instability.

• Reflection on American Exceptionalism: Critiquing the notion that America remains the "greatest on earth" amid underlying economic challenges.

Notable Quote:

"You have to have an international exit plan. You must have an international president. They shine bomb. I need to see you next week when I go back home because it is getting tricky in the United States of America."
[08:20] - Troy Millings

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Conclusion

This episode of Earn Your Leisure offers a compelling exploration of China's socio-economic environment through Rashad Bilal’s personal experiences. By contrasting cultural norms, cost of living, and economic practices between China and the United States, Rashad and Troy provide listeners with valuable insights into global financial dynamics and the pressing issues of wealth disparity and sustainable capitalism. The discussion underscores the importance of international awareness and strategic planning in navigating the complexities of today's interconnected economies.

Transcript

[Host]

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[Rashad Bilal]

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[Rashad Bilal]

Let's talk about my experience in China so far. I'll give a full breakdown. Give a full breakdown on market Mondays, because at that time I'll be. I'll be here for a week already. But I. I've been here for a day and it's interesting.

[Troy Millings]

Well, what's interesting about it? I'm curious.

[Rashad Bilal]

Okay. First thing that I noticed is that nobody speaks loud publicly. Nobody. It's almost like Truman show, where it's not in a bad way, but it's like everybody's. You know, you get used to America normalizes things to you. Yeah. So when you land in jfk, you hear everybody screaming. They run into cab drivers, somebody arguing with their baby moms on the phone.

[Troy Millings]

A lot of noise pollution.

[Rashad Bilal]

Yeah, y' all landed, like, at first I thought, because I landed early in the morning. So I'm like, maybe it's just early in the morning. But then throughout the course of the day, I notice nobody's like, yelling, nobody is speaking loud. Very low temper. Another thing I noticed is everybody. Nobody's in a. A rush to go anywhere.

[Troy Millings]

Right.

[Rashad Bilal]

It's in the middle of the week and everybody's just walking and they're just taking their time and they're just patient. I'm saying, like, once again, you gotta remember I used to work in Manhattan for 10 years. So I was taking the subway three times a week, rush hour traffic, people bumping, like, get out of my way. Like, you know what I'm saying? Like, so. So you used to that frenzy. But I'm just like, yo, everybody's just chilling. Nobody. Nobody's doing that. Another thing that I noticed, man, I was talking to. This is a market. Monday's conversation. I was talking to the young lady that was driving me. She's from China. You know, there's 20 electric vehicle companies in China. And I was asking. I was in one car. I'm like, what is this she named. I forgot the name of it. It had. It had 3D monitor screen. The seats, it was like a van. Seats, massage seats. It looked like a Maybach Sprinter. A company I never heard of. She said there's 20 different Chinese electric vehicle companies. 20. She said BYD is the biggest. But she was like, no, there's 20. There's 20 different ones. I'm like, damn, that's crazy as hell. I also noticed that there's gross. They told me, like, there's grocery stores in every mall.

[Troy Millings]

That's unique.

[Rashad Bilal]

Yeah. Huge African population here.

[Troy Millings]

Really?

[Rashad Bilal]

Well, I'm in Fu Shuang. So that's. This is the manufacturing capital of the world when it comes to, like, home goods and all that. So they was like, the Africans set up 300,000 Africans and they set up shop because they. They doing business back and forth. They sending material back and forth to Africa.

[Troy Millings]

Okay.

[Rashad Bilal]

Yeah. I walk into the. The showroom. Black art all over the place and. Very interesting.

[Troy Millings]

Tell me more.

[Rashad Bilal]

Not necessarily what you've been, what you've. What you would have expected, what you've been. Programmed propaganda is a real thing. Like I said, I'm gonna have a full report after a week. But, you know, you kind of get a gauge of things after a day, man. Yeah, it's been. It's been very interesting, bro. Like, it's.

[Troy Millings]

You had a great time so far?

[Rashad Bilal]

Nah. Having a good time for sure. The technology, everybody's just very polite. Like I said, it's just. It's one of these things and it's cheap. Like, the girl was telling me how much she paid for rent. And she said. She said two. 2,000 for rent, 2,000 for. For a one bedroom. 2,000. Their money, which is yen. The. The Chinese.

[Troy Millings]

Yeah.

[Rashad Bilal]

So I did the conversion. It's $175.

[Troy Millings]

Wait, what? In the city you're in now or.

[Rashad Bilal]

Yes, 175 cash, bro.

[Troy Millings]

This is the problem with printing money. Shipping, manufacturing to other countries, because then, now the Value of the dollar goes down and now you have to wipe away the middle class to offset these losses. It sucks, man. Like we built other countries up to tear ours down. And then we get told our country is the greatest on earth. And it has not been that for a long time.

[Rashad Bilal]

And you gotta, and you, you gotta have a conversation about forced inflation. Inflation is one thing, but how much of it is forced inflation based off of capitalism, greedy capitalism. Because if they could have, if they could have 200 rent and extremely efficient society. There's no trash, clean. Obviously. Everybody know, you know, China, highways, everything. It looks, you know, looks like how you think it would look. Yeah, I'm like, damn, what the hell? So then I started thinking like, okay, well I saw a closet and the closet was $16,000. And they said, my, my interior designer said that same closet in, in America's 80, $85,000.

[Troy Millings]

What kind of closet is this for 85, 000? Like mermaids come out of it.

[Rashad Bilal]

Like, yo, these classes cost a lot of money. His closet room, like when I say a closet, like a whole entire room.

[Troy Millings]

Okay, got you.

[Rashad Bilal]

Okay with the island with the got you code, all the whole thing, right? So I'm just like, yo, it's just really, really interesting as far as like we talking about the price of cars, right? Like they can't allow these cars to come into America because it would crash the, the auto, the automotive industry.

[Sponsor]

Because.

[Troy Millings]

Some of the BYD cars are like what, 28, 000 something like that? Us.

[Rashad Bilal]

Yeah. And that's what, keep in mind, that's what taxes added on top of it.

[Troy Millings]

Yes. Yeah.

[Rashad Bilal]

Right. So man, like I said, we have a full breakdown on market Mondays, but so far it's been pretty interesting, pretty eye opening and on a certain level pretty alarming because she was like, she, I told her how much like average rent in, in America is and she was like, her question was to me was she's never been to America. She said, well, how do you, how do you regular people pay that? How do, how do they survive? I'm like, that's, that's the thing. And now, now, now it all makes sense. Now I understand why people are walking with no care in the world. Now I understand at 12 o' clock everything shuts down for, for mandatory lunch. And then from one to two, everybody takes a nap.

[Troy Millings]

Napkin cold. Told you.

[Rashad Bilal]

I understand why you can be stress free on a certain level, right? Because you paying 200 for rent, you paying 20 $500 for one bedroom and you only making $5,000 a month. You're gonna be stressed out for sure.

[Troy Millings]

Yeah, that debt to income is high. Oh corrections Chinese wine Japanese yen just for investigative Chinese. Yeah integrity backslash6j for those you trade the Japanese yen or thinkorswim or Schwab Love y' all. But this is done by design. Like you can ruin the society. Going back to Confessions of the Economic Hitman, all the sanctions that we used to put out on other countries have somehow made their way back to us. I don't understand. And this is like coming from a person who is okay, everything costs too much now. Like you $85,000 for a closet. $160,000 in 2000 was a price for a good home. Like think about that. Like when I graduated high school in 2000, if you got a two or three hundred thousand dollar house, you were great. So but that's why I keep telling you guys you have to have an international exit plan. You must have an international president. They shine bomb. I need to see you next week when I go back home because it is getting tricky in the United States of America.

[Sponsor]

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