Chinese Economics Thread

[quantumlight]

Its been hard trying to get a new GPU this year...

RTX 3070FE MSRP for $499, on my local craigslist the floor is $899, the 3080FE msrp at $799, and scrapler floor local is around $1999

I cannot even get my hands on one even at these inflated prices... three times Ive been duped... these scraplers dont even have card on hand anymore, they get a buyer and then coordinate pickup at local costco or bestbuy, and often these online orders get interdicted by store employees who themselves decide to get in on the arbitrage and cut out the middle men scraplers....

So now its like they are buying and selling GPU futures contracts but no one has inventory on hand... all I know is I have money to spend but cannot even get a real card at 2x the msrp price....

If this isnt a sign of the fake eCONomy I dont know what is...

 

[gadgetcool5]

He's saying that China's GDP per capita is skewed by higher salary people and that US GDP per capita isn't skewed by the rich when it is. But he would never know because he doesn't live in the US and is an angry indian troll.


He used average salary ($50k+) of US to compare with median salary of China. His source for the US salary is wrong, I assume intentionally. Actual media salary is in the $30k's.
Here's the actual US government source, 52k for average (he claimed this to be the median), 34k for median salary.:
View attachment 66009

No its not wrong. The link I posted clearly states, " According to the Bureau of Labor Statistics (BLS), the

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for workers in the United States in the first quarter of 2020 was $957 per week or $49,764 per year (assuming 52 weeks of work per year). Wages were 5.7% higher than a year earlier."

 

[Gatekeeper]

He's saying that China's GDP per capita is skewed by higher salary people and that US GDP per capita isn't skewed by the rich when it is. But he would never know because he doesn't live in the US and is an angry indian troll.


He used average salary ($50k+) of US to compare with median salary of China. His source for the US salary is wrong, I assume intentionally. Actual media salary is in the $30k's.
Here's the actual US government source, 52k for average (he claimed this to be the median), 34k for median salary.:
View attachment 66009

Sorry, I should've made it clearer. I know what he's saying. But I do not believe he's saying it. He is out of depth and he doesn't even know it.

Yes he's trying to say China's GDP per capita is skewed by the "rich". And therefore I presumed he's trying to highlight the inequality in China is greater than the US.

But the skewness is true for every country. Which is what every junior high school student knows. But he's trying to use this to show inequality in China.

Yes, and as I said, he's cherry picking the data to make his case that China is a more unequal society. What is laughable, is no one does this. The UN and world banks, and other institutions uses the Lorenz curve and the Gini co-efficient.

According to this measure. Yes. China is now more unequal than US. But so what!? What is he trying to say? Is it bad? If so how bad? And what should anyone do about it?

He doesn't say anything. He just pointed out that according to his method of calculation, China is "more skewd" than the US. Gee. He's way out of his depth and he doesn't even know it.

 

[localizer]

No its not wrong. The link I posted clearly states, " According to the Bureau of Labor Statistics (BLS), the

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for workers in the United States in the first quarter of 2020 was $957 per week or $49,764 per year (assuming 52 weeks of work per year). Wages were 5.7% higher than a year earlier."

1. Your source sucks because it says "average salary" then "median salary" in the same context:

2. You chose 2020 when there was a lot of stimulus injected. Lots of low wage earners lost their service jobs, skewing the median. Also that $1200 check.


3. The number you gave is for full-time positions, not including part timers:

 

[localizer]

Also, if you look at your source you will see something very interesting:


US median wage in 1982 dollars hasn't improved at all.





You will not find many Chinese that will say that their lives haven't improved since 1964 LOL. (Other than FLG/TW/HK and larpers)


But there are plenty of US boomers who can attest to you that live was better in the US when they were younger.

 

[quantumlight]

Also, if you look at your source you will see something very interesting:
View attachment 66015

US median wage in 1982 dollars hasn't improved at all.
View attachment 66016




You will not find many Chinese that will say that their lives haven't improved since 1964 LOL. (Other than FLG/TW/HK and larpers)


But there are plenty of US boomers who can attest to you that live was better in the US when they were younger.

Are these numbers before or after tax, they say net but im assuming its before tax


In 4 decades Shenzhen went from fishing village to new Silicion Valley whilst in America look at Detriot, Chicago, San Fransico, NYC, etc etc

There was a reason why Trumps Make America Great AGAIN resonanted with so many old white folks wanting a return to 1950

 

[localizer]

Are these numbers before or after tax, they say net but im assuming its before tax

Can't imagine it being post tax since taxes are different for everyone.

 

[Jiang ZeminFanboy]

China’s former central bank chief urges revamp of modern central banking

• Zhou Xiaochuan, who was the head of People’s Bank of China (PBOC) for over 15 years until 2018, supports reform of the way inflation is defined and measured

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[antiterror13]

Americans will 100% go to GDP per capita to claim superiority over China after China surpasses it in nominal GDP. However, they won't be able to claim number 1 in that category as multiple small countries will always be superior to America in GDP per capita.

so many many countries have higher GDP per capita than the US (even smaller counties though)

 

[antiterror13]

Are these numbers before or after tax, they say net but im assuming its before tax


In 4 decades Shenzhen went from fishing village to new Silicion Valley whilst in America look at Detriot, Chicago, San Fransico, NYC, etc etc

There was a reason why Trumps Make America Great AGAIN resonanted with so many old white folks wanting a return to 1950

so imagine in 1950s when the US was so dominant and on the other hand China was at the lowest of the lowest ... still China was able to "win/stalemate" the Korean war ... mind you it was not only the US force but basically the whole western world