Chinese Economics Thread

[PiSigma]

Previous studies in NZ showed that a university graduate was more than likely to be more than a million dollars better off at the official retirement age than someone that did not attend uni, but this is becoming less certain with more and more unemployed or under utilised graduates.
One of Australasias richest man was a tow truck driver and later studied for a business degree

Nz'der Peter Beck the founder/ CEO of Rocket Lab only went to high school but must be a pretty persuasive talker to get U.S. firm Khosla to back him

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and sometimes there is luck

An acquaintance of mine who became stuck in NZ due to border closures over covid is on a couple hundred thousand a year to weld railway tracks together. He was offered the job without the need to produce a CV or go to an interview as he was the only person in NZ who knew how to weld railway tracks in a certain manner.

That's flabbergasting because we have tens of thousands of migrants from China and we can't even find one who knows anything about welding railway tracks.

It comes down to specific skill sets. In the next 20-50 years, if your job can be replaced by a machine, it will. My company recent moved from truck drivers to autonomous trucking. Each of those non educated truck drivers used to make $250k, that's hundreds of jobs gone and millions saved.

It's rare for any worker to have a very specific skillset in high demand, but if you have it, can command a high salary. This applies to university grads as well, just those that are highly educated are more likely to have the skillset employers are looking for.

Only way to get really rich is to start your own business and put in the hours.

 

[manqiangrexue]

It comes down to specific skill sets. In the next 20-50 years, if your job can be replaced by a machine, it will. My company recent moved from truck drivers to autonomous trucking. Each of those non educated truck drivers used to make $250k, that's hundreds of jobs gone and millions saved.

It's rare for any worker to have a very specific skillset in high demand, but if you have it, can command a high salary. This applies to university grads as well, just those that are highly educated are more likely to have the skillset employers are looking for.

Only way to get really rich is to start your own business and put in the hours.

Say what?? $250K?? I'm getting an average of $61K for a truck driver from my search...

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[Equation]

Yeah, I'm sure any store can refuse to sell you anything for any reason at their discrepancy (unless you're black, then it's racism), but I just told them that they should honor the price as a matter of principle and I will insist until and unless the general manager tells me that it's just not going to happen, which has only occurred once in my life at H-mart.

I got my girlfriend hooked on the "find great deals" challenge. Once in a while, I'll get a text from her when she's shopping; something like, "Vacuum packed USDA prime ribeye marked down to $5 per pound from $20. Grab?" And I'll reply, "Ya... ALL of it." LOL Last step with her is to wean her off the iphone/Apple crap and we'll be golden.

Chicks dig the Iphone crap for some reason.

 

[B.I.B.]

Chicks dig the Iphone crap for some reason.

They are a nice looking phone and intergrate well with all the other stuff that people seem to want.

 

[sndef888]

What are your opinions on the EU-China investment deal? It seems to me like China is making huge concessions in exchange for just some tiny benefits in renewable sector

 

[B.I.B.]

Say what?? $250K?? I'm getting an average of $61K for a truck driver from my search...

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Maybe they are specialist truck drivers
In Aus truck driving wages are fairly similar to the US but one can earn $100.000plus driving train trucks that can be up to 35 meteres long. That would be the equivalent of a truck pulling 4trailers.

 

[hashtagpls]

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Looks like Hollywood is losing to Chinese homegrown cinema; whodathunk that people don't want to see asians emasculated so white audiences can feel like a Big Man.

 

[Nobonita Barua]

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Looks like Hollywood is losing to Chinese homegrown cinema; whodathunk that people don't want to see asians emasculated so white audiences can feel like a Big Man.

China needs to concentrate on place on it's strength.

Chinese culture & places are perfect heaven for animation movies. Instead of trying to bettering avengers & star wars, China should focus on that.

 

[ougoah]

It comes down to specific skill sets. In the next 20-50 years, if your job can be replaced by a machine, it will. My company recent moved from truck drivers to autonomous trucking. Each of those non educated truck drivers used to make $250k, that's hundreds of jobs gone and millions saved.

It's rare for any worker to have a very specific skillset in high demand, but if you have it, can command a high salary. This applies to university grads as well, just those that are highly educated are more likely to have the skillset employers are looking for.

Only way to get really rich is to start your own business and put in the hours.

Previous studies in NZ showed that a university graduate was more than likely to be more than a million dollars better off at the official retirement age than someone that did not attend uni, but this is becoming less certain with more and more unemployed or under utilised graduates.
One of Australasias richest man was a tow truck driver and later studied for a business degree

Nz'der Peter Beck the founder/ CEO of Rocket Lab only went to high school but must be a pretty persuasive talker to get U.S. firm Khosla to back him

Please, Log in or Register to view URLs content!

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and sometimes there is luck

An acquaintance of mine who became stuck in NZ due to border closures over covid is on a couple hundred thousand a year to weld railway tracks together. He was offered the job without the need to produce a CV or go to an interview as he was the only person in NZ who knew how to weld railway tracks in a certain manner.

That's flabbergasting because we have tens of thousands of migrants from China and we can't even find one who knows anything about welding railway tracks.

Well these stories are definitely outliers. Maybe one welder in a thousand gets paid "couple hundred thousand" for welding railway tracks. Sorry but while this may be a rare and important skill worth paying well for, there probably are other reasons he's paid so much e.g. dangerous work conditions, long hours, worker rights rules that multiply pay over certain hours etc.

Truck drivers rarely make 250K/year. The majority are somewhere between 50K to 100K per year. If you're driving alien spaceship parts between area 51 and some research facility in a city, yeah okay maybe lol.

Highly paid skills (>200K/year) are rarely trade related and usually academically demanding.

 

[zgx09t]

What are your opinions on the EU-China investment deal? It seems to me like China is making huge concessions in exchange for just some tiny benefits in renewable sector

That means RMB will be more open to push and pull of Euro gyrations, less so on USD as it used to be.

Trade weighted RMB index was changed on New Year eve to reflect that. Euro weight moved up to 18.15 from 17.40%, while USD slid down to 18.79% from 21.59%.