The lecture at the University of Tokyo was pretended to be a wave of force.

The content of Lin Qi's speech was quickly released by the media and published on mainstream media and websites in Japan. The mainstream media has a lot of controversy about Lin Qi, and the Internet is even more noisy.

After all, when Lin Qi came to Japan, he began a wave of ridicule and hatred. As a result, many people who are unhappy in their lives seem to have found a target to vent.

"Lin Qi is just a lucky profiteer. After I happened to make some right investments, seized the opportunity, and made a lot of capital, I began to like to guide the world's economy. The economies of the Soviet Union, Japan, the United States, Europe, China, and any other country seemed to be under his control. However, according to Lin Qi's own statement, he has not studied economists specifically, and he has never seriously chewed on professional books, whether micro or macro. The most in-depth economic books he read were Schumpeter's "Theory of Economic Development" and Adam Smith's "The Wealth of Nations". As for Graham's other "Securities Analysis", it is estimated that it is because he has a bunch of professional accounting and statistical knowledge, so he has no patience to read and cannot understand, so he simply only reads investment books written for laymen like "Smart Investor". For mathematics, Lin Qi estimates that if he does not use the assistance of a calculator, the four operations are not very good. Is such a person also worthy of giving lectures at Jingdong University? Is it worthless to listen to his nonsense?"

"For grandstanding, the Japanese stock market may have been expensive four years ago, but now the average price-to-earnings ratio is just over 20 times. Some blue-chip stocks have a price-to-earnings ratio of more than 10 times, and the Japanese economy does not know, but it is only 14,000 points, and it will continue to decline at this time.

"Lin Qi continues to be bearish on the Japanese economy, and he will definitely regret it. Japan's economy and stock market will definitely bottom out, and after that, they will be slapped in the face. Let Lin Qi lose face in the future......"

"At the high point of the Japanese stock market in '89, the new start-up department continued to sell short. This person is simply the most shameless big short, the Japanese government should drive his company out of the Japanese market, we don't welcome him!"

"After the DVD was released, I resolutely didn't buy it! I originally thought it was black technology, but I couldn't get used to seeing Lin Qi's face!"

"It's the Japanese, so they boycott the DVD of Xinfei Company! Before, it was forcibly delisted, and now it continues to sing the Japanese economy short!"

On the Yahoo Daily website, after Lin Qi's speech in the comment section was released, tens of thousands of netizens debated.

In fact, Japan's stock market crash is not only a heavy loss for investors, but also a feedback to the real economy. This is because many operators of the real economy are also deeply involved in financial speculation.

At the end of the 80s, there were almost no Japanese companies, no speculation in real estate or the stock market. Either the two speculated on one, or both speculated. The boom in real estate and the stock market has been fed back to the financial reports of some companies involved in stock speculation and real estate projects, which continue to make a lot of gains.

In the 90s, the Japanese corporate world, which was deeply involved in speculation, was constantly bursting performance mines. After the stock market crash and the recession of the real estate market, a large number of listed companies have lost money in investment projects outside their main business in their annual reports. The main source of these investment losses is mainly caused by the decline in real estate and the stock market.

In the past, in the 80s, the financial statements of many listed companies in Japan showed that their profits increased dramatically every year. Among them, the increase in the income of the main business is not the main factor, the more important factor, the listed companies in Japan hold each other's shares, you hold my shares, I hold your stocks, your shares have risen, I have cashed out a large increase in profits. And my profits have increased significantly, which is naturally good and stimulates my stock price to rise. And the stock price has risen, because you hold our company's shares, you cash out a part of the profitable stocks, and there is a big increase in performance. And so, the cycle ...... Don't make it too easy to grow your performance!

The same is true for the real estate sector, where the banking system was depleted with funds due to the continuous growth of Japan's foreign exchange balance in the 80s. Therefore, banks continue to lend to enterprises, even if the enterprises do not have good projects, they are persuaded by the banks to obtain large loans, and then they are either used to invest in the stocks of other listed companies, or to invest in real estate. However, in the 90s, real estate prices were getting lower and lower year by year, and the prices of borrowed and purchased real estate continued to fall. However, bank loans are due one after another, so in order to repay the principal and interest of the bank, Japanese companies speculating in real estate continue to sell, so the Japanese real estate industry continues to plummet.

Even after more than 30 years, many Japanese cities and towns have lost a large number of people, and real estate prices have fallen to about one-tenth of the peak of the 80s, but they are still in a position for a long time, not only difficult to rise, but even more difficult to sell.

Only in Tokyo did housing prices gradually recover to 90 years after more than 30 years. But this is the rigid demand brought about by the fact that a large number of people in Japan are crowded into Tokyo, and the population is more crowded and concentrated than in the 80s ~ 90s. As for housing prices in other parts of Japan, they plummeted by 80%~90%, and then did not rise for twenty or thirty years.

There are a total of 43 prefectures in Japan, and by 2015, housing prices in 37 prefectures were converted into RMB, which was less than 5,000 RMB per square meter. In 12 counties, housing prices are less than 2,000 yuan per square meter when converted into RMB. The lowest house price in Akita Prefecture is about 1,129 yuan per square meter, and the second lowest price in Aomori Prefecture is 1,339 yuan per square meter on average. The third lowest is Shanxing County, with a house price of about 1,500 yuan.

In other words, the vast majority of Japanese prefectures have lower housing prices than the poorest prefectures in China.

And these surprisingly cheap low prices are based on the fact that housing prices have fallen by 90%, and even some county housing prices have fallen by 95%. It is equivalent to one-tenth and twentieth of the peak house price. Before the bubble burst, housing prices in Japan were the most expensive among the world's major countries!

Therefore, Lin Qi does not arrange for his mouth cannon to be slapped in the face by reality, if Japan has the ability to solve this continuous collapse trend, it will not lose 30 years.

Lin Qi listened indifferently to Ueshima Yazi, translated the webpage to him, and then said: "It seems that I am also quite famous in Japan, and the degree of attention is so high!"

"Of course, boss, you have always been the most popular entrepreneur in Asia, even in Japan, there are more admirers. Do you want me to translate some of your articles?" asked Ueshima.

"No need!" Lin Qi said, "My mouth cannon won't affect the company's business in Japan, right?"

"No!" said Ueshima with a smile, "the political and business circles are very calm. Many business owners even agree with your pessimistic view of the Japanese economy. However, since it is fundamentally in the Japanese market, you cannot express these views! If you are a foreigner, the Japanese are limited to your ability to go online, and if a Japanese company is looking down on the Japanese economy, then I am afraid that this kind of non-national will resist and go bankrupt. ”

Lin Qi smiled and said: "The key is to look at the Japanese version of Tesco on June 18th, how are you preparing now?"

"The website has been extensively tested and shouldn't be a problem. "It's that there are fewer products on the shelves at the beginning. It's more of a light and comic book. and VCD players, DVD players and other products. Of course, the Pangu computer supply is very complete......"

Lin Qi said with a smile: "In the early stage, in the Japanese market, Tesco was burning money to accumulate users, and for a long time, the issue of profitability was not considered. The product pricing cannot be higher than the offline pricing. In addition, online shopping, various coupon delivery, further create low prices! Not only low prices, but also good service...... By the way, many consumers say they don't want to buy DVDs, but this time, I'm giving you a 10,000 yen discount coupon for DVD drives and DVD players. I don't know, will these consumers not grab coupons or buy them!"