[Chapter 923: The Tide Has Already Receded; You Just Haven't Noticed]
On the east bank of the tropolitan riverfront, a colossal departnt store stood out remarkably.
"Bro, what's the point of all these surveys?"
"Don't talk so much. There are two groups involved. Make sure not to ss things up."
"Got it. I'm going to grab a smoke. You keep an eye here."
"Hurry back."
"Will do."
On its opening day, the departnt store welcod 1.07 million visitors. The Aricans were dumbfounded by this figure. "Are you kidding? Even if everyone bought $100 worth of goods, that's over $100 million in sales."
"My God, did everyone in the city co out?"
Not even a tenth.
"What kind of city has so many people? Don't they have departnt stores?"
Actually, this was a suburban departnt store. The most successful one was called First Departnt Store, a completely different story. The riverfront's east bank was a financial district, and no one understood why anyone would choose such a location -- it seed like a fantasy.
"Sir, why is this happening? The sales curve is plunging vertically. Rember, last year when it opened..."
"Filson, stop. I've said it before: location, location, location. These people have no clue that city residents just don't go to the east riverfront."
"Look at the contemporaries, First Departnt Store and Isetan -- their sales are stable. No growth, which is unusual after years of increases. Are they taking a break?"
Filson was puzzled, but real estate investnt had to be tightened.
"Yeah, agreed. Land prices are getting expensive. If people want to fight over it, let them."
"Sir, there are too few investnt channels. You can't just keep putting money in the bank."
William White smiled bitterly. To him, putting money in the bank was actually not bad. When no suitable channels existed, bank deposits were solid. With tightening credit, deposits even offered high interest rates with so flexibility.
"Sir, after our research, Southeast Asia's economy is clearly overheated."
"What? Are you saying the data is wrong?"
"Yes. Holding social stability amid massive unemploynt is a miracle. Sustaining double-digit GDP growth at this stage is a joke."
"Haha, no, you're calculating wrong. Divide by 1.3 billion people. The real number looks awful."
"Sir, but Southeast Asia..."
"If you want a fair comparison, India is the best benchmark."
Filson made a funny face. India was indeed a remarkable country, but what more was there to say?
"Don't believe it? Infrastructure sucks, officials are inefficient, and the whole caste system is ridiculous. But trust , their economy is doing pretty well."
"Alright, add another sample. Sir, you're not planning to invest in India, are you?"
"No, no. I wouldn't invest there. They even joked that Coca-Cola could be used as pesticide -- worse, so actually tested it!"
Filson's face twitched. These damn folks, they can talk nonsense, but claiming Coca-Cola works as insecticide? We sell soda, not bug spray.
They wanted to keep away from India but conducting research wasn't harmful. India's developnt lagged behind but was decent. As William White rembered, they hadn't had a major economic crisis.
The 'glitch' country was real, health issues were real, but calling them arrogant was a bit much. The millennium was a turning point. Before 2000, Korea and India loved celebrating themselves.
They would ask, "Do you have at to eat? You only get two als a year? That's pitiful."
These stories were true, but so deliberately erased tilines. In 2020, people still joked about India and Korea.
"A million dollars could buy several apartnts in the city?"
"Are you riding a bike to work?"
Damn, in the 80s and 90s, biking to work was quite good. Without industrial coupons, even if you had money, you couldn't buy much.
In those decades, such talk wasn't offensive. Yeah, we had difficulties, but things would get better.
When tilines changed to 2019, no one felt good. We were poor once, not always. Those who described my country that way were deliberately saring it.
We must say, these were fake news. India never claid chess as theirs; that was from a neighboring region. Korea never doubted the city's prosperity -- in fact, at least 500,000 Koreans lived there long-term.
The people fabricating such stuff were annoying. Even if you dislike soone, you shouldn't spread lies. Countries may compete for interests, but so things require dignity.
Seeing the overheated economy, the rabbit country imdiately tightened credit. With less money in the market, the flashy departnt store beca a one-day wonder.
The opening day was impressive, but the following days weren't so great. During traditional holidays, the crowded aisles turned nearly deserted.
Mrs. Ashton commanded respect, unlike Kazuo Watanabe, who lacked her steadiness.
If you avoided the bubble economy of the neighboring country, you should have been cautious. They had bubbles; their financial groups knew it well. Otherwise, why so many banks would support them?
Their banks were just shifting assets; you just happened to be in the right place.
The city's departnt store opening could be seen as a peak. For many years after, it was bleeding money.
Did anyone really need a departnt store that could handle a million custors?
No, that was foolish and unsafe. Forget explosions; even a single firecracker set off chaos.
Besides, what did a departnt store really need?
A comfortable shopping experience.
If you're always packed like sardines, where's the fun? Tens of thousands pushing and shoving -- do you think any rich folks would join in your madness? Only lowlifes would. More people ans more chance to show off, but that was it.
William White didn't care about others' opinions. He believed Asia's economic crisis warning signs had appeared long ago.
At least, this departnt store was a clear sign. Upscale malls made money growing day by day. But this one overestimated the rabbit country's consumption power.
Maybe if it opened ten years later, it might work. If you had bought the land around the millennium.
Haha, when the rabbit country had spending power, the rise of a Jack Ma happened. Basically, investing in departnt stores ant big losses.
Nowadays, departnt stores rely more on dining and entertainnt.
Saying no one profits isn't accurate. If you grit your teeth and build it yourself...
See? That's the real tragedy -- only property developers who build buildings win. This most technically unchallenging business is the real winner.
Unfortunately, few do it well except McDonald's. They initially got beaten by KFC but later...
*****
spatreon/Sayonara816.
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