university tuition fees is less than 8,000 per year. This is very affordable.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
8000 yuan is a lot for an average Chinese
Just shows the west was never about free trade and the mask is coming off now.
manqiangrexue
Brigadier
China is a very obvious choice in healthcare for Westerners because it is all the quality at a lower, though not insanely low, price. China's healthcare maintains a world-beating level of quality, oftentimes exceeding that in the West, though those countries will never allow that to turn into mainstream knowledge in their population. There are many other countries that are much cheaper than China, but often, the professionalism and quality are lower. They are good for routine/small needs with very little risk of fucking up and oftentimes, you can pay a few hundred dollars for something that would cost $10-30K in the US.
My wife went to a fertility clinic in the US to do her tests to make sure her body was ready for IVF before heading off to Kazakhstan, where we would do IVF+surrogacy for a paltry price. When the clinic passed her and began their IVF sales pitch on her, she told them she was going to Kazakhstan to do it. They strongly recommended against it and said that the US is more expensive but they are the best and don't you want the best for your baby? She then told them that she's going to use surrogates for 4 kids so the US is not a choice due to the cost. When they realized they weren't getting her business, they put all their cards on the table and told her they recommend she go to China because Chinese IVF is equal to American but significantly cheaper. They then cautioned that they'd be very worried about the quality in Kazakhstan because they have no idea what they'd do to her over there. But they were not aware that surrogacy is not legal in China.
I required a surgery that cost $40K in the US (with a 9 month wait), $10K in China, $1.2K in Kazakhstan. Since I would already be in Kazakhstan and this surgery is not typically associated with life threat or serious adverse effects, I did it in Kazakhstan, with a 1 day wait. Result was very good but the hospital amenities sucked big time. If I had to do it again, my choice would be the same, but if I needed something more serious, like open chest surgery, I'd go to China.
The answer is obvious. China's making the best stuff at all ends of the spectrum all the way to the most modern technology. So if the EU and US want to circle jerk with thier own expensive low quality low tech bullshit, they can. China will export to all the countries that the Western Europeans and Americans looked down upon. And the US/EU consumers will feel more and more like they slap themselves everytime they don't buy Chinese. Eventually, it will be too late for them when they're driving around in old gass guzzlers with bullshit smartphones and they see some Africans/Latinos fly by in a Chinese self-driving car levitated 2 feet off the ground while surfing the internet with a Chinese phone that projects the screen into the air. Then they'll know they have effectively fucked themselves into the third world.
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Just a couple thoughts on this. Not to say its definitive but I was interested in running some numbers
1. US health care expenditure per capita is 13,400$ per year on a GDP per capita of $76,400 which is ~20%
China health care expenditure per capita is $2,850 yuan per year across the country
and the a GDP per capita of Gansu (which is one of the lowest in the country) is ~$45,000 yuan. So using the lowest GDP per capital province in China, the national health care expenditure is around 5%.
If we look at health care expenditure per capita in Beijing, it's $4,304 yuan in 2022, which is an even smaller percentage of the per capital GDP of a person in Beijing of $190,313 yuan. Thus cost is <3%
In Canada, health care expenditure is around $8,563 CAD per Canadian in 2022 on a GDP per capita of $62,356 CAD.
This health care expenditure is 13.7% of GDP per capita. All in CAD.
So I'd say china health care is so far still affordable.
2. Not sure why open AI used the term "international standard" hospitals? Is that to say china standard hospitals are not good enough and that's why they are cheaper? That's a bit biased and frankly a bit insulting.
International hospital in China are a thing but they usually charge a lot more for the same service in my experience and foreign travellers and expats use insurance to pay so the costs are inflated. They are quite multilingual which is beneficial for travellers and expats, but many of the same doctors work in Chinese and international hospitals.
So I don't think you need to go to "international standard" hospitals to get good care as evidenced by chinas increasing life expectancy and QOL.
That would be GG well played China you're now the number 1 economy in the world.
Like some say China will just rugpull the west into low or middle income status.
The euro & dollar only has value because they allowed you to trade easier and buy equipment, tooling and semi conductors to escape low income status. If china can offer those things of a better quality and a lower price what use or value does the Euro and dollar hold?
You can see that today there are 3 concentrations of economic wealth and industrial activity, namely:
1. Europe (centred around the EU)
2. North America (centred on the USA)
3. East Asia (centred on China)
Each can be relatively self-sufficient because of their size in terms of population, natural resources, economic/industrial activity etc.
But we can already see that East Asia is already significantly larger than either Europe or North America. Furthermore, this lead should continue to grow.
Overall, the world outside of the West accounts for 88% of global population and 60% of global economic activity.
And as time goes, this non-Western share will continue to increase, to 70% and potentially to 80+% of global economic activity.
If China becomes wealthy and developed, then China by itself would be significantly larger than the US and EU combined.
So the US and the EU become increasingly irrelevant in the global scheme of things.
Those countries which embrace low-cost electricity generation and low-cost EVs from China will be able to outcompete the other countries such as the USA which block Chinese imports.
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Overall, the strategy is to:
1. move up the value chain and develop world-class products. If China becomes hi-tech, won't China be high-income as well?
2. continue domestic economic development. That results in higher wages, a larger economy and is the basis of all other power.
It's not lmao.
A service job (not needing college) in some tier 3 city is already like 3k, while for tier 1 is like 6-7k a month.
In other words, far less than 1 year of work (in comparison to US universities loans/costs, which isn't gonna be paid off in years for the vast majority lol, especially if they take a student loan).
Average Chinese income was 33,036 yuan last year. 8000 yuan would be a 1/4 the average Chinese income.
supercat
Major
Yes, few US pundits would say something like this:
Here is his take on China's surging export to the Global South, which renders the US regime's "decoupling" pointless.