Chinese Economics Thread

[voyager1]

Not everyone can enter a higher value add industry and you need to have wages for lower skill jobs like janitorial staff wages track with cost of living increases.

I agree with this. Not everyone can work on high-value industries. Wages need to keep at pace with cost of living and increase even more in time.

A problem will arise in 10 years time with automation coming strong for these low value jobs though.
We will see what happens then, thats not a China-specific problem

 

[ansy1968]

I agree with this. Not everyone can work on high-value industries. Wages need to keep at pace with cost of living and increase even more in time.

A problem will arise in 10 years time with automation coming strong for these low value jobs though.
We will see what happens then, thats not a China-specific problem

@voyager1 bro your doing a heck of a good job, I sense a promotion coming !!!! so an advance congratulation is in order.

 

[voyager1]

@voyager1 bro your doing a heck of a good job, I sense a promotion coming !!!! so an advance congratulation is in order.

Its a hard and honest work my friend. I cant just be left behind while others are advancing. I will join your rank, someday...

 

[Franklin]

On the issue of automation in China and elsewhere in the world. We have to take into consideration that the workforce in the coming decades will decrease as the population ages in North America, Europe and East Asia. Worker shortage may become a issue and in order to take care of the growing numbers of old you have to produce more with fewer people. Otherwise you could end up with massive inflation as production goes down because of labour shortage. Automation can potentially prevent a collapse of our living standards as the population ages. But you will need more skills to run a economy like that. That means alot of STEM students. Who can run and develop the systems of the future.

 

[voyager1]

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The central-government investigation, which started early this year, focuses on "regulators who greenlighted the initial public offering, local officials who advocated it and big state firms that stood to gain from it", according to the report.

Ma's relationships with these "state stalwarts" are also being examined as part of the investigation, the report said.

Xi is coming hard for all the corruption in making super fast IPO approvals for Ant Group. Jack Ma lackeys ibside the Gov will get the hammer

 

[KYli]

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[Jiang ZeminFanboy]

Not everyone can enter a higher value add industry and you need to have wages for lower skill jobs like janitorial staff wages track with cost of living increases.

So, why the last few years in China the minimum wage was almost stagnant? Look at my country, the last few years the minimum wage growth was more than some poorer Chinese provinces whole minimum wage.

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[voyager1]

So, why the last few years in China the minimum wage was almost stagnant? Look at my country, the last few years the minimum wage growth was more than some poorer Chinese provinces whole minimum wage.

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China's wages are increasing at a fast rate. No need to worry about that.

In Poland though, thats a gov problem. Ideally Poland should had become integrated with Germany in its economy.

I mean you have the biggest growth engine next to your country and you somehow manage to not take advantage of this.

The Polish gov should have passed reforms on manufacturing, cut red-tape, digitise Gov services, better infrastructure etc

Thats mostly Polish gov fault.

 

[Jiang ZeminFanboy]

China's wages are increasing at a fast rate. No need to worry about that.

In Poland though, thats a gov problem. Ideally Poland should had become integrated with Germany in its economy.

I mean you have the biggest growth engine next to your country and you somehow manage to not take advantage of this.

The Polish gov should have passed reforms on manufacturing, cut red-tape, digitise Gov services, better infrastructure etc

Thats mostly Polish gov fault.

I actually don't want to talk about the Polish economy on the Chinese thread but want to add few things.

I think Poland is very integrated into the German economy, it's almost a colony. Poland exports a lot, but it's mainly the subcontractor in the German industry.

Yes, I agree with the other things you mentioned.

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Chinese wages have grown a lot, but why the minimum wage stagnated since 2016? Look at the numbers and compare them with growth in Poland.

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vs

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[voyager1]

I actually don't want to talk about the Polish economy on the Chinese thread but want to add few things.

I think Poland is very integrated into the German economy, it's almost a colony. Poland exports a lot, but it's mainly the subcontractor in the German industry.

Yes, I agree with the other things you mentioned.

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Chinese wages have grown a lot, but why the minimum wage stagnated since 2016? Look at the numbers and compare them with growth in Poland.

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But this is false. Minimum wage is not everything. Don't compare everything with the failing neoliberal system where many people are actually earning the minimum wage.

Here is the disposable income chart for rural and rural households. Check this data:


This is increasing rather nicely, right? I sure am jealous of it hahaha