Author: BoMiller

400 Million Souls --More than the US Population [Copy link] 中文

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Post time 2013-3-27 09:03:32 |Display all floors
correction Post time: 2013-3-25 14:56
A picture tells a thousand words.

Sure, in a country that's the size of all of Europe you can find one picture but i've been to the expensive malls in Beijing and i found them sadly very empty.  If all goes well for China this may change in the future, but this will not change by lying like you do.

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Post time 2013-3-27 14:02:09 |Display all floors
Eudaimonia Post time: 2013-3-27 09:03
Sure, in a country that's the size of all of Europe you can find one picture but i've been to the  ...

Who's lying ?

Empty? Maybe 10 years ago.

Don't you know it's already the 2nd largest economy in the world ??

And huge forex reserves of 3.5 trillion USD is nothing ??
Please don't shoot, I'm just a babe.

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Post time 2013-3-28 02:55:15 |Display all floors
This post was edited by Eudaimonia at 2013-3-28 02:57
bluenoser Post time: 2013-3-28 02:47
On Forbes web site....

Within a generation, the middle class in China will be roughly four times th ...

I love it when i read total bs! China can't have 1,4 billion middle class consumers EVER, simply because 1,4 billion is China's population. The only way China can have 1,4 billion middle class consumers is if China becomes 1,8 - 2 billion people strong or if there's no class system in China at all - no income gap.

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Post time 2013-3-28 02:56:24 |Display all floors
correction Post time: 2013-3-27 14:02
Who's lying ?

Empty? Maybe 10 years ago.
Don't you know it's already the 2nd largest economy in the world ??


Don't you know that in gdp per person China is still in the league of second and third world countries?

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Post time 2013-3-28 05:11:02 |Display all floors
Tell me something,  where does this massive population overhang of 1.3 billion in a relatively small country come from? From the wombs of white USAnian women perhaps?

How come the Europeans expanded and colonized the earth whereas Chinese didn't? In this discussion, I don't care if the Europeans slaughtered their way to riches or committed horrific genocides, fact is, they spread and they are now allowing Chinese to emigrate to well developed countries where they get much better pay checks.

How come China got poor and poorer until the last twenty years or so? Perhaps Chinese want to blame that on "whities" likewise?

The Japanese Meiji Reforms showed the way forward, how come China never progressed from its backwardness like the Japanese? If China had industrialized at a similar pace, Japan would not have found China an easy target. Smatter of fact, China most likely would not have become a target.

Chinese are the only people to be blamed for China's backwardness. Don't blame others.

That said, China has come a long way the last twenty years and I look forward to more, much much more, in terms of economic reforms and matching politcal reforms towards more liberalization and openness.
Let the dice fly high

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Post time 2013-3-28 05:25:40 |Display all floors
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Post time 2013-3-28 20:01:13 |Display all floors
t's up to you if you want to ignore these 900 million rich Chinese


Only roughly 1 out of 1000 Chinese families have more than USD 1 million in assets. For comparison: roughly 1 out of 6 Swiss or 1 out of 14 US families do.

So only 1.5 million Chinese households can be considered rich - leaving 1.4 billion non-rich households.
400 million are even too poor to survive - they can't afford proper education for their children or proper health care when they're old, and might even struggle to get enough food on their plates. They will raise badly educated and unhealthy children who will turn out poor themselves again, financially unable to take care of their parents when they are old - a vicious circle. So it certainly is an issue worth discussing.

Nevertheless, I guess it would be more important to take care that wealth in China is distributed more equally. The question is just: how should this happen?
One option might be to do it like European nations: levying high taxes on the rich to pay for the poor. But this approach prooved to be worthless: the rich moved abroad and pay taxes in the US, England, Monaco, Switzerland or other tax havens, whilst politicians always promise more and more benefits to the poor, creating one of the largest debt crises in recent history.

So perhaps, China might want to learn from places like Switzerland, that managed to keep low taxes in spite of having good social security. Just say that every worker must pay a given amount - e.g. 5 percent of his or her income, but not more than a given amount (e.g. 500 Yuan/month) - to the government, which then distributes the money amongst the elderly or those who aren't able to work properly. Another 5 percent would go to a toughly regulated pension institution, where the money is simply saved and invested in conservative, safe assets. Those savings will be paid when the worker gets old (but it will be his savings).

The health care system, however, shouldn't be copied from Switzerland, as it is quite expensive here - China couldn't afford that. Better take on Singapore's approach: introduce health care accounts in which people can save money for their future health care needs, whilst covering tail-risks (like expensive cancer treatments or the like) via a government insurance until people are rich enough to pay for them themselves.

If the Chinese know that, no matter what, they can survive, they will not be so reluctant to spending money, consume more - and build the largest consumer society in the world by 2030. And by the time we are old, China will also have a decent amount of rich people - and no poor ones anymore.

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