Its not a relevant minimum wage if everyone makes more than that. You might as well gloat that every Grade 1 student in China knows that 1+1 = 2. Correct but useless statement.
Because this is not a game of Risk?
Chinese Economics Thread
- Thread starter Norfolk
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Its not a relevant minimum wage if everyone makes more than that. You might as well gloat that every Grade 1 student in China knows that 1+1 = 2. Correct but useless statement.
Because this is not a game of Risk?
Minimum wage is minimum by law that you allow to pay a worker. It doesn´t matter if state law or province law or central government law. Now that people having better options will work for you for that is a another thing.
Personally im against universal basic income and i'm opting more toward for the government to be the last supplier of jobs.
In china this would probably not work given people actually prefer to work for the government if im not mistaken.
But recent example is Poland not Japan. And the precisely opposite happened in the last 10 years in Poland. China should link minimum wage as % of average wage in the particular province and let it index up automatically every year by the growth of wages
If you look at the data this is exactly what happened what a guy (fiat money) said
For China to have free hand to determine its economic trajectory, it needs to have at least some equivalents of the US equivalents in terms of resources and technology to pull neutral nations to align towards itself. Automobiles- done, energy security- pretty close to be done , food security- a big risk, global aviation- laggard, semiconductor stack- moderately -risk free -but needs massive investments in fabs to have compute capacity using mature nodes. Before China has software capacity it will need to have its own platform, as steong as ios, android and wondows , so that the software wont have the risk of being deplatformed. Tiktok could have easily branched out apps for long format to compete with youtube and invested in movies and shows like Netflix. But it is kind of expected to restrain itself and do not compete with these existing platforms. Filling these two gaps would ensure the chance of having equivalent stacks and entice the global south.
That would be great if the United States wasn’t seeking to destroy these companies with whatever methods they can. If you start a services company in China you can basically kiss every western market goodbye as they’re going to scream “insecurity! Linked to CCP! We cannot use Chinese services!” And ban them. There’s no chance they make it there. It’s still worth the effort to pull non western aligned countries into a more Chinese ecosystem but don’t expect amazing profits and soaring economic growth.
i didn't made any comment on your economic/financial analysis but this is my domain so i bound to answer.
you said, need massive investment in fabs to have compute using mature nodes. maybe you never tried to check or even visit semiconductor thread. China has already invested hundreds of Billions RMB in entire semiconductor supply chain. which makes China already the largest manufacturer of mature nodes. 1/3 of global mature chip production came from China. and China's 28% mature node market share is expected to grow to 40% by 2027. SMIC become the 2nd largest pure fab in the world after TSMC.
China invested heavily in memory production too which resulted in ''YMTC/CXMT became globally competitive'' and started to compete with Micron/SK Hynix and SS.
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Huawei's HarmonyOS has displaced Apple's iOS in mainland China, becoming the second-largest smartphone operating system in the country, trailing only Google's Android. HarmonyOS currently captures approximately 19% of the Chinese mobile operating system market, outperformed iOS.
to compete globally with ios/Android Chinese companies first need to capture domestic market. this process currently taking place right now. and i know this is a long and brutal process but the mission has already kick started. it will take time.
and yeah China is sill significantly behind in civil aviation but there are some fundamental reasons behind this. COMAC is working hard to solve all the problems. but if you have any question regarding this you can ask on aviation thread.
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