That ain't China's problem for the long run. The west doesn't really has the monopoly on consumption anymore like they had till the 2020s to demand certain thing from industrial nations. That's why its important for China to develop other markets.
Chinese Economics Thread
- Thread starter Norfolk
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What jobs in China pay minimum wage? The lowest salary from what I heard is waitress getting like 4000 rmb, factory workers earns decent, similar level to some lower earning white collar workers, much more than waitress.
The level of Chinese minimum wage is a joke, usually is around 2000 rmb per month depending what city, to the highest about 2700 rmb in Shanghai. I think at this level of minimum wage it would be okay to even delete it at all cause no one is getting paid that.
So who is earning minimum wage? Farmers?
The level of Chinese minimum wage is a joke, usually is around 2000 rmb per month depending what city, to the highest about 2700 rmb in Shanghai. I think at this level of minimum wage it would be okay to even delete it at all cause no one is getting paid that.
So who is earning minimum wage? Farmers?
They have a huge market share in the west so it's expected, but less known companies can easily replace them as some even produce Hikvision-compatible cameras and NVRs.
As usual, we have the lazy French complaining about rest of the world producing better product than them
My rebuttal
There is a term we never really see anymore in the media, a phrase from the past.
The Welfare State.
Since I am a rightist, I never believed in the welfare state, thought that it was a dead end. The economy shivers up. High costs, low growth, no opportunity, too much taxes.
Most of Europe is like a welfare state, and they are proud of their achievements.
After that brief prologue, about the welfare state, I would like to say these two points.
1) The rise of China, and Chinese industries competing against the high end manufacturing of Europe, is a direct threat to the European welfare state model of how they run their countries. They need that tax revenue from their most profitable industries which are world leading industries, to support the welfare state. If those profits do not exist anymore due to intense Chinese competition, then they cannot fund the welfare state.
Actually, we already saw that happen, where the welfare state does not work anymore, in the Club Med countries of Europe. The EU, always paper over the problems, kicking the can down the road.
Now, with China, maybe they realize the can cannot be kicked down the road anymore.
I find it somewhat surprising that no one ever talks about Club Med anymore and their financial problems in the past, because their problems are now the problem in all of Europe, due to that war in central Europe.
2) Protectionism probably will not save the welfare state. Just off the top of my head, what I can think of, pulling this directly outta mah arse, seems to me two problems.
One is the obvious one of stagnation, which makes it hard for a government to support anything, let alone the cost of supporting a massive welfare state.
Two is what about capital flight? The Germans never stopped investing into China, because that is where they get the biggest bang for their buck.
But, that is what they are going to do, out of desperation is my guess. I find the EU leaders to be exceptionally stupid. They must be aristocrats or something like that.
No one is gonna save their ass this time, and it appears they are too stupid to save their own ass.
We see how this war in Europe shakes out. That war is a bad catalyst for bad things for European governments.
Okay, since this is a thread about the Chinese economy, that is my suspicion too, about the welfare state.
I doubt the Chinese Communist Party believes in the welfare state either.
However, it could be a case that China is a developing country, so they do not have the funds for a welfare state.
Actually, China did do the welfare state model, or sort of, it was the iron rice bowl. Obviously, no one wants to go back to those days.
So that is my guess, the welfare state model of how to run the country, will not be returning to China, in any significant way.
That means the Chinese will compete, and remain ruthless competitors in the economic realm. Let Europe and North America be welfare states, and let them eat cake too.
As that Maria person use to say before they got her ass jailed.
I doubt the Chinese Communist Party believes in the welfare state either.
However, it could be a case that China is a developing country, so they do not have the funds for a welfare state.
Actually, China did do the welfare state model, or sort of, it was the iron rice bowl. Obviously, no one wants to go back to those days.
So that is my guess, the welfare state model of how to run the country, will not be returning to China, in any significant way.
That means the Chinese will compete, and remain ruthless competitors in the economic realm. Let Europe and North America be welfare states, and let them eat cake too.
As that Maria person use to say before they got her ass jailed.
The West basically wants it all; they want cheap goods from China to deal with their own impending inflation due to their own reckless actions, and they want China to use its surplus to lend it money in the form of investing in US Treasury bonds. Effectively, they want Chinese to be their slaves, the way south koreas, taiwanese and japanese are the slaves of the americans. An Asian person in any of those 2 nations and 1 renegade province, can expect 996 days and getting paid a pittance whilst the fruits of their labours are enjoyed by americans and westerners who don't have to work as long nor as hard. The European welfare state depended a lot on captive markets in africa and asia eg CFA Franc just as the american military industrial complex and hedonistic welfare state depended on asian investment into US debt and captive markets for US conglomerates.
The West needs to do another Opium Wars/Unequal Treaties with China because only China has the capacity and wealth to save the West's living standards, like a vampire needing blood; it was Chinese wealth from opium peddling that built Harvard to say nothing of europe of the 19th c.
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