Chinese Economics Thread

Equation

Lieutenant General
That is what he said Interesting today Chinese ambassador said the same thing Being polite he says India is behind 13 years but in reality it is more than that . India need to bring their house in order by instituting country wide reform. I wish them well
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Meanwhile the Indian booster ever optimistic said this
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I just read that article as well. Dang you beat me to it by posting it before I did.:D:p
 

vesicles

Colonel
But what I'm saying is this time it will be different. The combination of advanced AI and automation will be a game changer that is absolutely unprecedented for us all.

In the past when on job became obsolete, human will create new industry and provide more jobs simply because human intelligence is absolutely supreme compare to any effort at automation, the more automation you need the more people you need to operate it. But this is all going to the changed very soon because soon the machine will be able to learn and adopt just as effectively as humans in many areas. And yes in the process new jobs and new industry will be created as before, but those job's will not be like the new jobs created before, they will not just going to increase production, but at same time, many of those job's goal is to make other jobs automated.

People at the time of industrial revolution might have also thought the same way, as the machines had become so immensely more powerful than before. I don't think we have changed the game fundamentally. No matter how advanced the robots become, they are still tools. Even in a scenario of machines achieving singularity, we are simply increasing the population of intelligent beings. It's still fundamentally the same as we are now.

At the same time, the skill required for those higher level jobs will require a lot of higher education and schooling, and as usual, in any society there will be a lot of people that does not seek higher education, and with the lack of skills that they have they will be increasing became obsolete, but at the same time on the other side of the spectrum, the higher level jobs will get paid even more.

I believe this is already happening, just ask yourself, minimal wage job or jobs that requires minimum skill in 30 years ago vs today, how much it has changed? And look at the other end of silicon valley, engineers are making 100k a year easily and still cannot afford apartments in San Francisco.

And lastly, right now the only decent paying jobs that requires very little education in US is actually truck drivers.... but with the heavy investment in self driving, what is going to happen to those drivers?

This is already happening, and it will only get worse.

Not necessarily. Advanced tools usually make using them easier. I have no idea how my smart phone works, but that doesn't prevent me from taking advantage of its powerful features. In my line of work, I depend heavily on advanced microscopes. Yet, I have only very basic understanding of microscopy. To be honest, the last time I saw the inside of a microscope was when I was in grad school. that however has not stopped me from using them to test my hypotheses and get beautiful images of cells to wow people.

About salaries, I think you are looking at it the wrong way. Instead, you should compare the education level of minimum salary people 100 years ago vs. same group now.

And lastly, right now the only decent paying jobs that requires very little education in US is actually truck drivers.... but with the heavy investment in self driving, what is going to happen to those drivers?

In the 1900's when automobile began to show up, horse-drawn carriages started to disappear. Many drivers of those carriages lost their jobs. The flexible ones then found other jobs and trained themselves to become experts of something else. Those who refused to change eventually ended up as homeless... The same will happen to those truck drivers when all trucks become self-driven. It's about how individuals invent and re-invent themselves to fit the ever-changing world, not about how the world revolves around a few stubborn individuals.

This is actually the same even for highly educated people. As your field advances, you need to keep training yourself to keep up. Imagine a doctor who got his MD in the 80's. Would he still be able to practice now without further training? Absolutely no! that's why all advanced licenses and certificates require continued education. You need to attend classes and training session to keep up with the field. Scientific research is the same. Many need to change their field of focus completely because their original field has matured to a level, where they no longer need many researchers. Then except a few leaders, all others would need to change to completely new fields. Then we would need to re-train ourselves again. This happens a lot.

The problem with the current political and economic environment in the US is that the entire economic and political policies focus on accommodating those who refuse to change. Bringing back manufacturing jobs is a good example of this. Instead of marching forward to the 21st century, we are trying to move backward to the 19th century when everyone worked in a factory, doing manual labor. That's just sad.

In my opinion, the focus should be on providing new training to those who used to be in manufacturing and on fostering development of new industries that take advantages of the high tech strength of the US. Now, we are trying so hard to compete with the poor third-world countries for cheap manual labor, while ignoring our own shining advantages. It's like Usain Bolt trying to become a weight lifter. His strength is speed. Focus on your own strength!
 
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Blackstone

Brigadier
Surprise, surprise, the caped crusaders are themselves corrupt.

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According to a news report in the Chinese-language Overseas Chinese Daily Qiaobao datelined Los Angeles May 1, 2017, Chinese anti corruption “fox hunting” squad has used the services of at least one US detective starting several years ago to track down corrupt officials. The detective they hired commented in an anonymous interview that the Chinese corruption fighter seem to be corrupt themselves. They only work two days a week and often go to Las Vegas to gamble. One of the corrupt official chasers even asked him how to best smuggle money out of China to the USA.
 

Yvrch

Junior Member
Registered Member
I can't help but wonder how's Trump brand doing in China.
Kushner's family business seems busy in town lately.
What?
Undisclosed tax returns and conflict of interests in White House?
No, not corrupt nepotism at all!
Hallelujah.
 

sanblvd

Junior Member
Registered Member
People at the time of industrial revolution might have also thought the same way, as the machines had become so immensely more powerful than before. I don't think we have changed the game fundamentally. No matter how advanced the robots become, they are still tools. Even in a scenario of machines achieving singularity, we are simply increasing the population of intelligent beings. It's still fundamentally the same as we are now.

I already respond to this post of your the first time, and I explain why AI and automation is going to be a game changer than all the changes than before, your logic is base on the assumption that it has happened before and it will happen again, but it simply does not work that way, please re-read what I wrote in detail. What I'm trying to say this time it will be different. And I didn't even dare to use the word "singularity" if we achieve that, you will be looking at something far worse, and lack of jobs is going to be least of our concerns.

Not necessarily. Advanced tools usually make using them easier. I have no idea how my smart phone works, but that doesn't prevent me from taking advantage of its powerful features. In my line of work, I depend heavily on advanced microscopes. Yet, I have only very basic understanding of microscopy. To be honest, the last time I saw the inside of a microscope was when I was in grad school. that however has not stopped me from using them to test my hypotheses and get beautiful images of cells to wow people.

About salaries, I think you are looking at it the wrong way. Instead, you should compare the education level of minimum salary people 100 years ago vs. same group now.

Again... please re-read my posts, this revolution that is happening is is NOT only going to be about better tools, this time the changes will be about creating tools that don't just make whatever we have better/easier/more powerful, this time it will be about making tools that make entire range of traditional job automated. And yes, base on the description of your job should probably be safe for now, because it sound like whatever you do is very specialized, and I bet it takes some schooling and hard work to get to where you are, but the thing is you are not everyone, you are not even the majority of 2/3 of US population with no college degree, I'm talking about those people that will suffer the most.

I'm not compare life 100 years ago to life today, I'm comping life in the 1950-1970s to today. And the economic system starting to collapse.

In the 1900's when automobile began to show up, horse-drawn carriages started to disappear. Many drivers of those carriages lost their jobs. The flexible ones then found other jobs and trained themselves to become experts of something else. Those who refused to change eventually ended up as homeless... The same will happen to those truck drivers when all trucks become self-driven. It's about how individuals invent and re-invent themselves to fit the ever-changing world, not about how the world revolves around a few stubborn individuals.

This is actually the same even for highly educated people. As your field advances, you need to keep training yourself to keep up. Imagine a doctor who got his MD in the 80's. Would he still be able to practice now without further training? Absolutely no! that's why all advanced licenses and certificates require continued education. You need to attend classes and training session to keep up with the field. Scientific research is the same. Many need to change their field of focus completely because their original field has matured to a level, where they no longer need many researchers. Then except a few leaders, all others would need to change to completely new fields. Then we would need to re-train ourselves again. This happens a lot.

The problem with the current political and economic environment in the US is that the entire economic and political policies focus on accommodating those who refuse to change. Bringing back manufacturing jobs is a good example of this. Instead of marching forward to the 21st century, we are trying to move backward to the 19th century when everyone worked in a factory, doing manual labor. That's just sad.

In my opinion, the focus should be on providing new training to those who used to be in manufacturing and on fostering development of new industries that take advantages of the high tech strength of the US. Now, we are trying so hard to compete with the poor third-world countries for cheap manual labor, while ignoring our own shining advantages. It's like Usain Bolt trying to become a weight lifter. His strength is speed. Focus on your own strength!

Again, very traditional way of thinking, and what was true before don't mean it will still follow the same pattern, but again, how many people will actually keep go retraining when their field dried up? You are assuming people who already have good jobs and needs to retrain to keep up with the progress, I'm talking about the mass of population that never really receive any kind of advanced degree in the first place or ever had any decent job in the first place, what is going to happen to them? And what is going to happen to nations like India that don't even have much higher educated population to begin in the first place? Your assumption have way too many luxury that you assume is ready taken granted.

And lastly, why don't you tell me that over the past 30 years or so, why is the minimum wage jab salary has been declining in respect to purchase power, while the high paying jobs has more then keep up with inflation?

Don't you think as time goes on, those people will became even less valuable in the future? And what is the answer to them? Go back to school and relearn? Please remember, we are talking about well over 66% of US population age 25 or older that does not have 4 year degree. Telling each one of them go to back to school is not going to happen.

And why do you think this trend is happening? Why are low skilled labor is getting less valuable... might that have to do with.... I don't know, automation?
 

Blackstone

Brigadier
You trust a blogger with anti China perspective for this? If he is so emotionally distress and dramatic about it, he should wanna talk about corruption to the extreme by just looking at the Trump administrations.

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The story is from a "Chinese-language Overseas Chinese Daily Qiaobao," so the trust part isn't with Cowhig's blog. But, if your question is do I believe PRC corruption fighters might themselves be corrupt? My answer is I do, I do indeed.
 

Equation

Lieutenant General
The story is from a "Chinese-language Overseas Chinese Daily Qiaobao," so the trust part isn't with Cowhig's blog. But, if your question is do I believe PRC corruption fighters might themselves be corrupt? My answer is I do, I do indeed.

That applies to anywhere in the world. Especially here in the US as well. Heck the Trump administration is just the tip of the corrupt ice berg.
 

broadsword

Brigadier
I can't help but wonder how's Trump brand doing in China.
Kushner's family business seems busy in town lately.
What?
Undisclosed tax returns and conflict of interests in White House?
No, not corrupt nepotism at all!
Hallelujah.

I hope Jared and Ivanka do not drop the ball with ethics. They are a rational couple and potential future US leaders.
 

vesicles

Colonel
I already respond to this post of your the first time, and I explain why AI and automation is going to be a game changer than all the changes than before, your logic is base on the assumption that it has happened before and it will happen again, but it simply does not work that way, please re-read what I wrote in detail. What I'm trying to say this time it will be different. And I didn't even dare to use the word "singularity" if we achieve that, you will be looking at something far worse, and lack of jobs is going to be least of our concerns.



Again... please re-read my posts, this revolution that is happening is is NOT only going to be about better tools, this time the changes will be about creating tools that don't just make whatever we have better/easier/more powerful, this time it will be about making tools that make entire range of traditional job automated. And yes, base on the description of your job should probably be safe for now, because it sound like whatever you do is very specialized, and I bet it takes some schooling and hard work to get to where you are, but the thing is you are not everyone, you are not even the majority of 2/3 of US population with no college degree, I'm talking about those people that will suffer the most.

I'm not compare life 100 years ago to life today, I'm comping life in the 1950-1970s to today. And the economic system starting to collapse.



Again, very traditional way of thinking, and what was true before don't mean it will still follow the same pattern, but again, how many people will actually keep go retraining when their field dried up? You are assuming people who already have good jobs and needs to retrain to keep up with the progress, I'm talking about the mass of population that never really receive any kind of advanced degree in the first place or ever had any decent job in the first place, what is going to happen to them? And what is going to happen to nations like India that don't even have much higher educated population to begin in the first place? Your assumption have way too many luxury that you assume is ready taken granted.

And lastly, why don't you tell me that over the past 30 years or so, why is the minimum wage jab salary has been declining in respect to purchase power, while the high paying jobs has more then keep up with inflation?

Don't you think as time goes on, those people will became even less valuable in the future? And what is the answer to them? Go back to school and relearn? Please remember, we are talking about well over 66% of US population age 25 or older that does not have 4 year degree. Telling each one of them go to back to school is not going to happen.

And why do you think this trend is happening? Why are low skilled labor is getting less valuable... might that have to do with.... I don't know, automation?

For those who have never had good training, they should think about getting one in time of change. This is not limited to highend jobs. My own grandpa was a farmer during the WWII in China. When farmig became impossible in time of war, he became a miner and started working in a coal mine. Coal mining needs a completely different set of skills than farming. My grandpa never learned how to read and only knew what his own name "looked like" in Chinese. Yet, in time of change, he adapted. We should be flexible enough to adapt to different situations.

I have read your post. Again, my point is that what we have here is simply a quantitative improvement in productivity, not a qualitative one.

If you keep insisting that what we are seeing now is something fundamentally different than before, then we'll just have to agree to disagree.
 
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