Not according to this:
This is the US geological survey Mineral Commodity Summaries, February 2019 report.
Chinese Economics Thread
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Not according to this:
This is the US geological survey Mineral Commodity Summaries, February 2019 report.
Interesting, I based my comment on this
According to , Australia has a recoverable resource of 202Mt of magnesium ore. All deposits are exploited as open cut mines and most are found in South Australia, followed by Queensland and Tasmania. Queensland Magnesia (QMAG) exploits the Kunwarara deposit, where mining commenced in 1989.20/07/2016
Forget that the final average wage of workers has the "household income ratio to gdp " component as well.
Means the GPD generated contain the fixed asset investments , stored goods ect, that is NOT worker's income.
Just to put an end to this :
per capita disposable income again includes babies, retired, etc and is not the same as wages because not everyone works nor has the same fixed costs. A farmer that owns their own property from the govenment makes little but also spends little. An urban worker that makes high wages but must rent or pay mortgage makes more but spends more.
It is also meaningless because your original claim wasn't that UK had higher wages than China but that in China, higher portions of GDP is gone due to inefficiencies and extractive economics than UK.
I demonstrated that is false.
If all money in GDP went to wages, then UK should have $70k USD average wages per worker, but it only has $40k USD wages per worker. UK workers make -54% of what they're worth.
But in China, if all money in GDP went to workers, then Chinese workers should have $19k USD wages per worker. From KPMG numbers, wages in China are actually higher than this expected value.
But let's say that this isn't representative, that it's only young urban workers who took the KPMG survey. OK, let's look at some more real data. which is equivalent to $14k per year. That means Chinese workers are paid -26% of what they're worth.
No matter how you spin it, the end result is the same: UK wage receiving workers make less money than what they're worth to a greater degree than Chinese workers. And that is why in the end, British workers are objectively getting a shit deal.
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And you don't have an agenda? Come on man, we all have agendas but let's not pretend that your raison d'etre on this forum is not to find every single nook and cranny to shit on anything and everything that's China. You're being the negative nancies of this forum. There's not a single China posts positive or otherwise where you couldn't help yourself but try to cast doubt or aspersions on a country that based on your post history your frankly know little next to nothing about. Most are pure speculation and wild guesswork and theories that are western projections nothing more, nothing less.