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I would be very bearish on California right now. All the tailwinds that its had for the last 30 years are slowly unwinding. Nevermind the fact that China's economic growth 6% is equal to the percentage of US-China flights as compared to pre pandemic levels.

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Their target is 5% and looking at the latest quarter they are not going to hit it, even with their "creative" math.

If you believe numbers coming out of China I have a bridge to sell you.

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