China has seen its fair share of challenges in 2012, having to balance affordable housing and price curbing initiatives against sluggish economic growth, respond to allegations of currency manipulation and economic espionage, and finally, prepare for an historic transition of leadership that will take place in the weeks to come.

However, in its preoccupation with such economic and political issues, the world's second largest economy has neglected to address a troubling cultural trend. A popular Western Tumblr account titled, "Accidental Chinese Hipsters", has documented numerous cases of Chinese citizens who have unintentionally adopted a fashion sense similar to that of their Western, Bon Iver-listening counterparts (The 20 Worst Hipster Bands: LA Weekly).
 

Accidental Chinese Hipster

China's population of over 1.3 billion people is largely unaware of the term hipster, which is used to describe a group of middle class Western youth who have chosen to shun all that is considered conventional. To do so, they have borrowed fashion styles from various cultures and eras, stripped them of all former significance and, instead, wear them to convey a sense of irony. Yet, despite their efforts, these urban dwellers have created a movement that has, in itself, become quite mainstream. For this reason, denial is the most commonly shared characteristic of hipsters, followed, of course, by an inexplicable infatuation with Pabst Blue Ribbon and handlebar mustaches.

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Accidental hipsterdom reached unprecedented levels last month in China, as Beijing property developer Xinyuan Real Estate Co. purchased 2-acres of land in the hipster capital of the world, Williamsburg, Brooklyn, for $54.2 million. The plot of land is scheduled to host more than 200 housing units, making the deal the first ever of its kind conducted by a Chinese company.

Xinyuan's expansion to the U.S. can be attributed to restrictions placed on land purchases by the Chinese government in its effort to curb domestic housing prices. The company cites the trendy location and attractive price as primary factors in its property selection. Interestingly, the site's original plan intended to market to Brooklyn's Hasidic Jewish community; traditional Hasidic clothing has played an integral role in the development of hipster fashion (Hasid or Hipster).

Hasid or Hipster?

A Williamsburg resident familiar with the situation said the he believes foreign investment can only benefit his community and is glad to see that Xinyuan is expanding its operations to Brooklyn. Still, the source, which prefers to remain anonymous, made it clear that he liked the company better in its earlier years when it was just building houses in more obscure second-tier Chinese cities, such as Zhengzhou, Chengdu, and Hefei.