Miscellaneous News
- Thread starter bd popeye
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i agree with you but not every one will
i had a roommate who straight up refuse to rest and wanted to keep his second job a secret (my man you are washing two sets of work cloths daily you aint fooling anyone)
there are people who will riot if they cant OT, and this is more true amongst older generations
i think this got raised recently, hebei gone up by quite a lot. But is anyone actually paid this with no bonuses/ benefits /etc ? like seriously are they gonna find anyone willing to work in beijing for ~2K?
That's the problem. The minimum wage levels in most places are meaningless. In the US, the minimum wage is usually what a lot of people earn and hence a raise in minimum wage is straight forward raise in people's wages.
In China, minimum wage levels is lower than what even store clerks or restaurant waiters would get, so it is meaningless. They should all undergo one time adjustment to levels that give a decent life, where people can rent out a decent place, afford a car, raise 3 kids etc.
i would argue it is indicative, considering most reports and articles are using this measurement
i'm no economist but if money sure isn't spent, surely it is saved or invested?
weirdly Urban Household Savings didn't give any concrete numbers either, only sentiment
but by eyeballing:
2004 q3 (awful formatting)
32.3 percent of the surveyedconsidered consumption (including through borrowing) the “most sensible”choice,
33.4 percent surveyedconsidered "to save more" the most sensible choice,
7.9 percent surveyed considered"to buy stocks or mutual funds
2010
At the current price, interest rate and income level, 45.2 percent of respondents preferred “more investment” (such as purchases of bonds, shares and mutual fund units), 37.6 percent chose “more savings deposits” and 17.3 percent were in favor of “more consumption”.
2011
82.8 percent of respondents preferred to save money, with 39.7 percent went for bond, stock and fund investments as an alternative to deposits and 43.1 percent for deposits. About 17.2 percent were in favour of “more consumption”
2018
26.0% of respondents were in favor of “more consumption”, up 1.3 percentage points from the previous quarter; 44.3% preferred “more savings”, up 0.7 percentage point from the previous quarter; 29.7% tended to make “more investment”,
2019
27.7 percent preferred more consumption, up 1.3 percentage points from the previous quarter; 44.5 percent were in favor of more savings deposits, down 1.0 percentage point quarter on quarter; and 27.8 percent were inclined to make more investment, down 0.4
2023
21.9 percent preferred more consumption, down 2.6 percentage points quarter on quarter; 62.2 percent were in favor of more savings deposits, up 4.2 percentage points quarter on quarter; and 15.9 percent were inclined to make more investment,
2024
24.4 percent preferred more consumption, down 0.8 per- centage points quarter on quarter; 64.0 percent were in favor of more savings deposits, up 2.5 percentage points quarter on quarter; and 11.6 percent were inclined to make more investment,
2025
19.2 percent preferred more consumption, down 4.1 per- centage points quarter on quarter; 62.3 percent were in favor of more savings deposits, down 1.5 percentage points quarter on quarter; and 18.5 percent were inclined to make more investments,
TLDR
i suppose you have a point, though major shift seems to be from investment to saving
however, no distinction between the 2 is not cited and only sentiments are tracked so i would take it with a grain of salt
In cities, yes, meaningless. but poor places like hebei? i reckon it might be useful
What you are looking for is household savings rate. The gross savings rate is a statistical/economic measure that has nothing to do with what a normal person thinks of as "savings"
This is the figure for household savings rate. It has increased since pandemic.
One more chart from Sixth Tone
manqiangrexue
Brigadier
Based on what should they be those numbers? What stage of growth are we in? Where does it say that when your country is about to overtake the sitting superpower, engaged in trade and tech wars with it, in this phase, your numbers should be in this range? Lemme see your source.
That's baby numbers, nothing near China's unlimited potential. How do you get 6-10% from endless potential??? Limitless, infinite, comprende? You know what percent growth will satisfy me?
All economies that have transitioned from the middle income to developed status, South Korea, Taiwan for instance, were growing at these rates at an equivalent per capita GDP level.
middle income transition phase, where either you get stuck in middle income forever, or sustain high growth to become a developed country.
Who said China is going to overtake US for sure? It's economy as a fraction of US GDP is actually declining. There's a high level of talent exodus, many sectors where US has much higher market share, various other issues. It's competing yes, but far from confirmed to have overtaken the US.
Don't be so uncharacteristically complacent. Paranoia and Humility have served China well in the past, they will do so in the future as well.
Look at GDP numbers published from any source for South Korea, Taiwan, Japan and you can draw the conclusion.
manqiangrexue
Brigadier
I knew this was the stupid mistake you were making, comparing China to small countries that never posed a systemic challenge to the Western order, economically, technologically or militariliy and never had to fight their opposing force whilst growing. China is not in any phase that any of those countries have been in. China has technology that none of them ever had on a comprehensive level. Middle income, developed country, etc... those terms are all totally meaningless. There are countries that specialize in vacation packages and fishing that are on the high income list. And China, with its rockets, satellites, aircraft carriers, was on the middle income list. There are countries that have no crucial technology whatsoever on the developed countries list when China was already leading the US in some even whilst on the developing countries list.
These definitions mean nothing. China is not in any of those phases or comparable to any of those countries. China is in G2 phase: final showdown with the US. No one except the Soviets was in this phase and they only lasted briefly.
About 75% of America, according to a new poll. What does "for sure" mean? Are you "for sure" you will not die crossing the street tomorrow?
This is a stupid thing to say again and again. Are we talking about nominal this time aimed at the currency conversion? We already talked about why that doesn't matter, then you shut up and slinked away and now you bring it up again as if we never discussed before. Finish conversations or acknowledge defeat. Don't run away and start over exactly the same whenever you lose.
Lower than before; there is a new growing level of talent influx as well.
90% where China has greater technological mastery. Market share is paper money made by man; technology is your standing with nature.
Nothing is confirmed but the writing is on the wall; the US does not have the tools to hold China back and it can only stall.
Don't be so ignorant and stupid.
No, you keep that; I see you have alot. That's not a compliment when people call you paranoid.
OK, so you show some humility here and admit you were defeated in many discussions before so bringing up the same points is futile. Show me your humility.
fig 1 shows an increase of ~2% after from 2019 to 2023? i'm not sure if it is indicative enough. especially with rising household income of ~3+%, i would argue that spending habit (or lack of) is the bigger cause as people just saved what they couldn't spend (personal observation, take with grain of salt)
fig 2 seems weird, share of disposable income deposited dropped by 10% from 2022 to 24 ? that seems to contradict sentiments i cited previously.
also by eyeballing fig2, rate of increase seems consistent despite major changes in deposit?