80% of the wealth in China is concentrated in the generation born in the 1960s and 1970s. They experienced reform and opening up, shantytown renovation, and skyrocketing real estate prices, and accumulated a large amount of assets. However, as they age, their risk appetite declines. They are not only unwilling to take over real estate, but also unwilling to take over the stock market, let alone the real economy. They are only willing to deposit money in the bank to earn 2-3 points. What do young people have? They have mortgages and an uncertain future. They have a risk appetite, but they have no money and no expectation of income growth. Rich people are unwilling to invest, and those who are willing to invest have no money. This is the current situation. The infrastructure that has been maintained for the past 20-30 years is increasingly unable to bring returns in the stage of population decline. Infrastructure cannot bring investment attraction, nor can it bring land price increases. Therefore, infrastructure is just consumption, not investment. Due to insufficient investment, domestic demand can only be revitalized after the 1960s and 1970s pass away and assets are redistributed to young people who are willing to take risks. During this period, there is only one way, which is to go abroad: one is to invest in foreign assets, and the other is to do business abroad. So brothers, whoever invests in the cryptocurrency circle and engages in A-shares is a fool #美国大选如何影响加密产业？ #美国经济软着陆？ #以太坊基金会