Chinese Economics Thread

[manqiangrexue]

The above is NOT an analysis about the countries relative to each other , China vs UK, but rather analysis about the average person ratio of wealth from all wealth of the country.

It's totally pointless to do such a thing. Just shorten it to say that the average per capita wealth in a large, densely populated developing nation, although rising much faster, is still lower than that of a relatively sparsely populated small developed nation. Who didn't know that?

So, it is not relative to the other country, but relative to its own economy.

If that were true, you wouldn't need 2 nations; you could compare China to itself without involving the UK in the Chinese economics thread.

Not so complicated, just try to think about it logically .

It's not complicated at all; as a matter of fact, it's far too simple to even be worth mentioning. That's why everyone thought there was something else that you were trying to say and looking for a point in your writing.

 

[Anlsvrthng]

It's totally pointless to do such a thing. Just shorten it to say that the average per capita wealth in a large, densely populated developing nation, although rising much faster, is still lower than that of a relatively sparsely populated small developed nation. Who didn't know that?

If that were true, you wouldn't need 2 nations; you could compare China to itself without involving the UK in the Chinese economics thread.

It's not complicated at all; as a matter of fact, it's far too simple to even be worth mentioning. That's why everyone thought there was something else that you were trying to say and looking for a point in your writing.

Logical thinking is NOT "everything against my faith is not logical " : D

Point is simple : Chinese work more hours a week, and receive less of the result of they work than the USA/european counterpart.


It can be explained like a British works 14.3 hours for the oligarch/wealthy/politician , and 23.7 hours a week for himself, the Chinese counterpart works 28.6 hours a week for the oligarch/wealthy/politician , and 18.4 hours for himself.


Humiliating , isn't it ?

 

[Overbom]

Point is simple : Chinese work more hours a week, and receive less of the result of they work than the USA/european counterpart.

So? China is a developing country and needs to quickly build up to catch up with the advanced economies.

Developed countries are in a different development stage than China, plus they are also super rich.

Humiliating , isn't it ?

Only on your mind. Whats humiliating about the people working so much for a better future for their children? How do you think China advanced so much in such a short period of time? By working 30 hrs per week or by working with sweat and blood from morning to evening?

Show some respect to these people who have worked so hard and they still do

 

[ZeEa5KPul]

Humiliating , isn't it ?

No, it really isn't. It's just another area where China will make progress and outshine you like it has in so many others. It's good to know you're such a strong proponent of President Xi's common prosperity program, however. Too bad capital owns the air you breathe and any social and economic reform is a pipe dream in your society.

"Humiliating" really isn't a term someone in the UK like you should use to describe China. Humiliating is what the US did to you during the Suez Crisis, to take an example off the top of my head. Honestly, the West at this point in history is an obese diabetic with a head start and China is Usain Bolt. You're so happy you're ahead? Enjoy it while you can because you have no idea what's coming towards you and how fast it's moving.

 

[KampfAlwin]

Logical thinking is NOT "everything against my faith is not logical " : D

Point is simple : Chinese work more hours a week, and receive less of the result of they work than the USA/european counterpart.


It can be explained like a British works 14.3 hours for the oligarch/wealthy/politician , and 23.7 hours a week for himself, the Chinese counterpart works 28.6 hours a week for the oligarch/wealthy/politician , and 18.4 hours for himself.


Humiliating , isn't it ?

They’re a developing country. Developing UK in the late 1800s-1900s ain’t exactly a worker‘s paradise. I don’t know any major developed country in the world that got where they are with 1st world standards at the start. Might be fun to compare when China reaches developed status otherwise this is just a ’feel good’ statement.

 

[manqiangrexue]

Logical thinking is NOT "everything against my faith is not logical " : D

I am not religious, but you seem to religously make comments on topics that you don't understand.

Point is simple : Chinese work more hours a week, and receive less of the result of they work than the USA/european counterpart.

Point is too simple and obvious, the natural difference between a developing nation and developed nations. The other side to the coin is that China grows and develops much faster than the US or EU. If you weren't at such a low level of understanding in economics, you wouldn't even mention it. It feels like a person going to a NASA meeting blurting out, "You need thrust on a rocket... but not on a planet." Then when everyone looks at you wondering what mental ailment you have, you go, "Point is simple, isn't it?" LOL

It can be explained like a British works 14.3 hours for the oligarch/wealthy/politician , and 23.7 hours a week for himself, the Chinese counterpart works 28.6 hours a week for the oligarch/wealthy/politician , and 18.4 hours for himself.

That explanation is wrong. The correct explanation is that workers in high density developing countries are generally less wealthy than workers in sparsely populated developed countries.

Humiliating , isn't it ?

No. Watching China's rise is invigorating. Contributing to national power through work is glorious. Understanding the difference in what to expect between developing economies and developed economies is natural and basic knowledge.

However, your poor understanding of economics and of China despite your insistance on commenting confidently on them are embarrassing. The UK going from losing the Revolutionary War to turning into a modern day American henchman is humiliating.

 

[horse]

That explanation is wrong. The correct explanation is that workers in high density developing countries are generally less wealthy than workers in sparsely populated developed countries.

It was comparing apples to oranges.

The proper way to make that comparison is to get the average income of someone living in Beijing then compare income to housing cost. Then get the average income of someone living in London then compare income to housing cost. Those two numbers are ratios, and that should be a direct comparison.

To use the entire population of China, and assume they live in Beijing, is kind of pointless.

It is like saying the average income in America must find an apartment in San Francisco or New York, which would obviously skew the numbers one way.

 

[FairAndUnbiased]

There are two group of people in every country :
1. wealthy and powerfull
2. average citizen

The GDP growth increase the wealth of the #1 group.

Let see how the #2 group fare in China compared to UK.

So, GDP per capita PPP:
China : 19k USD
UK : 47k USD

GDP per capita, nominal:
China:10.5k USD
UK : 40k USD


Now, Household consumption share from GDP (2019 data) :
China : 39.25%
UK : 64.04%

Property prices per square meter, capital :
China : 6513 USD
UK: 8557 USD


Household available money :
China : per capita GDP * % of consumption =4 125 USD
UK : per capita GDP * % of consumption = 25 760 USD


Means 1.5 year of sallary reqired for a Chinese to buy one sqm in the capital, for a British it needs 4 month of sallary.

Add together with the fact the average Chinese works 47 hours a week compared to the 37 hours of a British.

After all of this claim that in China they prefer the family above the wealhy/oligarch/corporate/goverment needs is very funny and laughable : D


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google search:
uk gdp per capita
China gdp per capita

What a ridiculous argument.

1. Beijing as %population (~1%) and %GDP (3.5%) of China is far lower than London as %population (13.4%) and %GDP (23%) of UK means the two real estate prices are utterly incomparable. Beijing real estate prices are completely unrepresentative of China while London's is representative of the UK.

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2. You didn't account for average rent or taxes in your calculation, making the whole thing moot. In addition you did not account for increased cost of equal services in UK which is simply transaction cost with no added value.

3. GDP per capita is correlated to but not exactly average wages so trying to confuse them is nonsense.

All in all just total gibberish.

 

[FairAndUnbiased]

No, it really isn't. It's just another area where China will make progress and outshine you like it has in so many others. It's good to know you're such a strong proponent of President Xi's common prosperity program, however. Too bad capital owns the air you breathe and any social and economic reform is a pipe dream in your society.

"Humiliating" really isn't a term someone in the UK like you should use to describe China. Humiliating is what the US did to you during the Suez Crisis, to take an example off the top of my head. Honestly, the West at this point in history is an obese diabetic with a head start and China is Usain Bolt. You're so happy you're ahead? Enjoy it while you can because you have no idea what's coming towards you and how fast it's moving.

Actually he even got the wages vs price level wrong.

UK wages are similar to Chinese wages.

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Average Chinese monthly wages: 12423 RMB on pg.4 (1,943.13 USD per month, 23317 USD per year)

Average UK wages:

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29600 GPB or 40k USD.

So UK has about 1.7x wages.

Income tax at average salary: China 10%. UK 20%.

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Now gap is reduced to 1.5x greater UK wages.

How do UK prices compare? China is up to 60% cheaper.

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Conclusion: his argument is total gibberish nonsense.

 

[Topazchen]

Logical thinking is NOT "everything against my faith is not logical " : D

Point is simple : Chinese work more hours a week, and receive less of the result of they work than the USA/european counterpart.


It can be explained like a British works 14.3 hours for the oligarch/wealthy/politician , and 23.7 hours a week for himself, the Chinese counterpart works 28.6 hours a week for the oligarch/wealthy/politician , and 18.4 hours for himself.


Humiliating , isn't it ?

Is the humiliation just reserved for the Chinese or should we Africans who work 72 hours a week and take home less than 10% of what the Westerners (who work 36 hours a week ) make also feel ashamed?