Chinese Economics Thread

antiterror13

Brigadier
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.

During iron ore boom before GFC 2008/09, truck drivers in Australia indeed could get A$200K, the work condition was extremely tough and in the middle of nowhere. My colleague, she was a manager resigned from the position and she took truck driver training (3-6 months) and she was heading to Australia to become a truck driver (iron ore mine). YES, a female ;)

That boom is long gone, unfortunately
 
Any Chinese American living in a large US city should be able to make at least 250k per year before they reach the age of 30. Competition should feel so easy here.
 

manqiangrexue

Brigadier
Any Chinese American living in a large US city should be able to make at least 250k per year before they reach the age of 30. Competition should feel so easy here.
Dude, what? Do you know how rare it is for someone to make $250K much less get there before age 30? I know a lot of Chinese Americans, all in big cities, and I know only 2 who made over $250K per year before age 30. Both were investment bankers and suffered severe overwork fatigue and psychological torture from performing their jobs. Their plan was to make as much as they can in a few years and get out before it kills them. The most balanced and healthy people I know make close to $100K, which is quite a few, and then we have a lot who make around $50K doing not-so-educationally demanding jobs.
 
Dude, what? Do you know how rare it is for someone to make $250K much less get there before age 30? I know a lot of Chinese Americans, all in big cities, and I know only 2 who made over $250K per year before age 30. Both were investment bankers and suffered severe overwork fatigue and psychological torture from performing their jobs. Their plan was to make as much as they can in a few years and get out before it kills them. The most balanced and healthy people I know make close to $100K, which is quite a few, and then we have a lot who make around $50K doing not-so-educationally demanding jobs.

Maybe saying all big cities was an overgeneralization, but definitely certain metropolitan areas like NYC (probably your two IB friends), Bay Area and a couple of others. Would be much more difficult in some place like Detroit or Cleveland. Bay Area is easy mode with new grads making 150k at their first jobs in tech.
 

B.I.B.

Captain
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.
If you call working from 8am. 4.30pm hard, then you must have a cushy job. As I said he was hired without being interviewed because he was the only person in NZ who new how to weld railway tracks in the required manner. {{perhaps it required a special technique or familiarity with this particular type of welding tooll. next time I see him ill ask him. He was doing this work in Australia for quite some time 3 weeks straight work and then flown back to NZ where he lived with his wife and young family and then back to Australia again and so on.
One of my brothers is a expansive diver. he had an apprenticeship on the Taranaki offshore oilrigs. It's a very well paid work and the North Sea oil fieds during the northern summer month on month off I think. Then he comes back and works the Taranaki oilfields in our summer on a similar rotation.
 

B.I.B.

Captain
During iron ore boom before GFC 2008/09, truck drivers in Australia indeed could get A$200K, the work condition was extremely tough and in the middle of nowhere. My colleague, she was a manager resigned from the position and she took truck driver training (3-6 months) and she was heading to Australia to become a truck driver (iron ore mine). YES, a female ;)

That boom is long gone, unfortunately
Aussie ore prices have been climbing to an all time high in 2020. Commentators suggest it is more than covering the loss from the banned or tariffed products.

A quick google search has results indicating a drop in prices through 2021.
 
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antiterror13

Brigadier
Aussie ore prices have been climbing to an all time high in 2020. Commentators suggest it is more than covering the loss from the banned or tariffed products.

A quick google search has results indicating a drop in prices through 2021.

I meant the boom for the truck drivers that earned >A$200k
 
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