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.

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

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.