antiterror13
Brigadier
I still enjoy this video even 1 month old ... really spot on, the most polite way saying you (UK) is nothing
Miscellaneous News
- Thread starter bd popeye
- Start date
average wages China: 90,501 RMB (2019) or ~$13000 USD
average wages after average tax China, Shanghai: 75000 RMB or ~$10000 USD
average wages US: $40000 USD (2019)
average wages after average tax US, California: ~$33000
Then take into account differences in rent, mandatory car/gas payments vs. the option of affordable and fast public transit, the cost of everything from food to health insurance, etc and it's more even than you'd expect.
Anybody live in the US and willing to supply some numbers so we can crunch this out? Also, consider that cost of living varies drastically between urban centres and rural regions. California is not a good representation of the US in its entirety. Likewise, Shanghai is super expensive compared to the rest of China.
How about Huston, Texas, large city, not extremely expensive. Any Texans?
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I'm pretty sure Texas is not a city. It's like a whole bunch of cities. And towns. And whatever the Americans call 'em. Not 100% sure though.
Sorry meant Huston, edited.
I just realised that I tagged the wrong person. It was supposed to be @Biscuits and not @ZeEa5KPul. Apologies for any offense and confusion.
By end of 2022, China had more than 417 million registered mobile vehicles, of which 319 millions are automobiles with at least 4 wheels. Most should be passenger cars for family use. In 2022, more than 17 million automobiles were registered as new.
There were more than 500 million Chinese who have driver licenses by end of 2022. More than 29 millions of them got their licenses in 2022.
It is estimated that the owning a passenger car powered by ICE in China costs between 15000 to 20000 yuans per year after the purchase.
There were also more than 1 billion Internet users in China by end of 2022. Almost all of them accessed internet on smartphones meaning they had mobile data plans. This matches the number of smartphone owners of 1 billion by 2022.
More than 286 million new mobile phones were sold in China in 2022. The average cost of new smartphones in China has rised to more than 2000 yuans each by 2022.
These numbers are already enough for me to be skeptical of that survey.
I don't have any numbers for California or Shanghai, but have them for Hong Kong and NYC.
Regular food is ~2.5x more expensive. Cheap food is ~4x more expensive. Utilities is 2.7x more expensive in aggregate. Individually, it is 5x for water, 3.2x for electricity, 3x for internet (better in HK for this price too), and roughly the same for gas. Transportation is 1.5x-7.5x more expensive depending on whether or not you need to cross the sea / take the tram or bus in HK. Rent (per sq ft) is roughly the same.
So basic costs are about 2.5x-3x more expensive in NYC compared to HK for 1 person. Shanghai is going to be much cheaper than HK. Perhaps some folks live in Shanghai and have been to HK can further extend the comparison.
From online sources, it seems like Shanghai's CoL would be less than half of HK, so maybe a 6x multiplier vis-a-vis NYC?
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Trade wars are bad for anyone. Bad for Chine of course. But for Europe, its trade war + energy inflation + deindustrialization + economic depression + social unrest. That's actually fatal.
China is doing contract manufacturing and brand building at the same time. Check your facts. Go to your local store and find out how many Western-branded goods are still made in China.
Wrong. While the champion brands of China will be among the biggest engines for future growth, they are not the only one. China's economy is much more diverse than that. Nevertheless, the big Chinese brands are making huge inroads in the West today, despite the tariffs and the bad press that they are getting.
Except for a few US poodles in West, the rest are still buying telecom products from Huawei. BYD electric buses are still being procured to run in Western cities till this day. Those 4th of July fireworks Americans like to burn, 90% are made in China. Tiktok is still a big hit, despite all the controversies. Chinese brands are big in the West because Western customers like them, not because they are Chinese. Banning them is essentially doing free marketing services for them. As the Huawei case have demonstrated.
Where did you learn your economics? Nominal GDP is not what buying power is based on, that's GDP by Purchasing Power Parity (PPP)! Cost of living is much higher in the West than in China. $100 goes much further in China than the West. $100 could be spent on a meal in the West and that transaction is counted in the Nominal GDP. $100 in China could buy a couple of meals, groceries, and transport fees. Those transactions, counted for Nominal GDP is gonna be smaller. But for GDP PPP, its gonna be higher. Inflated price tags distorts the true value of the economy. If you wanna talk about economics, you should have known these things.
The Global South and the Chinese market should never be underestimated. The Global South is still the fastest group of growing economies on Earth. And growing economies need affordable products. The West used to fleece the Global South by selling products that they need/want at extreme margins, and with strings attached. China can provided them with a much more affordable alternative with no hidden conditions, thus it is poised to dominate that massive market. We all know what the Chinese market is like. If its so insignificant, why are Western brands lining up to get into the Chinese market? Why do some even grovel at Chinese consumers for hurting their feelings? Why are those who exited Chinese market finding out that they've lost much more that they've bargained for?
NEVER! China will NEVER KOWTOW to anyone, especially not the West. No aspiring major power should ever kowtow to the West. Japan did it, and their miracle story is over. South Korea did it, and their decline have started to manifest. Russia did it, and was nearly destroyed. If China had kowtowed to the West, the West will impoverish China and break it apart. Anyone suggesting China to kowtow to the West for its own benefit is either a white supremacist, or a moron. Never ask any nation to kowtow to the West, it is arrogant, and disrespectful.
Tiktok didn't bend any knee, it just followed the rules of the country it is operating in. Same as what US companies need to do if they wanna do business in China. That Tiktok grilling by the US Congress was a farce, it showed Tiktok's professionalism to the world, and how retarded the US Congress are. Tiktok have prepared for the worse, and won't mind exiting the Western market. But the Western governments can't control the masses who loved Tiktok. And that scares them.
What era are you living in? The 1990s or the 2000s? Yeah, the US and Europe attacked China. Not because they are rich, but because they are arrogant pr**ks. Still, China didn't become poor again. Its economy is still growing at a healthy pace. Where are we seeing ghettos and tent cities in the urban centers? Where are we seeing fentanyl crises? Where are we seeing widespread personal insolvencies? Where are we witnessing rampant criminal activities? These are signs of a sick economy.
Trump launched the trade war in 2018, and its ongoing till now. The result? China is winning hands down today. The US economy has never been as weak as it is now. Manufacturing in China grew, while it stagnated in the US. The US is experiencing stagflation. If it wasn't for the sacrifice of Europe, the US economy would have been in serious trouble by now.
Do not mistaken China's goodwill as weakness. China desires Western business, but it won't beg for it. If the West wanna cut off, it won't be good for China, but China is prepared to adapt. In any case, China can produce practically all essential items that it needs. What it can't produce, China will work it out eventually. The US have cut China out off the ISS. China then built its own space station. If there is any nation who can adapt, China is on the top of the list today.
The West cutting off from China is gonna be even uglier. Where are they gonna get affordable common products? Where are they gonna get the stuff they need for Xmas? Local production? That's gonna cost so much more. Manufacture in SEA and India? They've tried that for well over a decade already, and it still have not weaned them off from China. Despite the population and the hype, India is not the next China, never will be. Anyone who is still betting on that is welcomed to continue betting and losing your bets.
Despite the ongoing cold war, Westerners are still buying up container loads of Chinese made products. Western youths are happily posting contents on Tiktok. Westerners are getting more curious about China thanks to the cold war, and many have found China to actually be a great nation. The Cold War launched by the Western elites is not having the desired effect, because people have access to alternative medias today.
The long term crisis is actually in the West. I would argue that they have accelerated it into a medium term crisis. You don't need to project the West's ugly situation on China. China's future is actually brighter than the West and its lackeys. The trend in the West is negative, and if they double down on their cold war, it will eventually become extremely negative.