When comparing GDP over the longer term, the assumption that we are making is that a country is able to maintain their per capita gdp over a few decades. An example would be comparing with Japan's per capita gdp, as their currency is crumbling now.
Chinese Economics Thread
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When comparing GDP over the longer term, the assumption that we are making is that a country is able to maintain their per capita gdp over a few decades. An example would be comparing with Japan's per capita gdp, as their currency is crumbling now.
But we have 4300 zł (1000 euro) minimum wage (30% of all employees earn the minimum wage lmao), and 800 zł for one child per month, do you have that? Who is the real commie there?
BEIJING, July 1 (Reuters) - China Construction Bank Corp (CCB) , the nation's second-largest commercial bank by assets, has asked employees at its headquarters to take a pay cut of at least 10%, two sources with knowledge of the matter said on Monday.
Higher-ranking officials will take a steeper cut in salaries, one of the sources said. Both sources declined to be named as the information is confidential.
Salary cuts at most of CCB's subsidiaries have been deeper than those taken by the staff at its headquarters, however, some of its better-performing businesses have restricted the pay cut to a single-digit percentage, the source said.
CCB did not immediately reply to a Reuters request for comments.
The belt-tightening at CCB underscores the challenges Chinese financial firms are facing in a slowing economy. Chinese banks are under rising as they are nudged to provide cheaper loans to stimulate the faltering economy, while loan demand remains weak.
China has also pushed ahead with its "" drive, with the nation's top graft-busting watchdog vowing to eliminate ideas of a Western-style "financial elite".
That has spurred many financial firms, both state-owned and private sector, to take measures such as cutting salaries and bonuses, and asking staff not to wear expensive clothes and watches to work.
Bank of China Ltd (601988.SS), opens new tab launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers, Reuters reported in August 2023.
Is the rumor true ? or a new scam by Reuter?
It's probably true, but you have to read between the lines.
China is global trade. Without China there would be no civilian goods trade.
smartest thing they've done in the past year is to allow visa free travel for a whole bunch of countries and to make it easier for people to use wechat pay and alipay
you just have to come and check out china for yourself to see how modern it is
Seems to be more than double of last years 13.8 million in total.
Still down by over 40% from the 48 million yearly arrivals in 2019 though.
(The statistics I found says tourist-arrivals though, which could be a smaller subset.)
Lets be honest here, what do you think Chinese leaders should have done that they haven't done?
We have to be pragmatic instead of being emotional .Chinese leaders are quite pragmatic and rational in their thinking.
phone market share breakdown in Q2 and first half. Great performance by Xiaomi btw. Huawei Q2 #s really hurt by that iPhone price cut in May and june.