Recently I been watching global and economics news around the world especially China. I have been hearing lot of report that a lot of capital and factory are being move outside of China to other cost effective countries near by like Vietnam and India instead. One of the new report claim Foxconn a large manufacturing company contracting by apple is recruiting young worker at the rate of 21Yuan(about 3USD) a hour. Somehow for 3 USD a hour it has been able to draw in a huge amount of applicant. Which I ask a person I know in China about her salary as a teacher assistant. As a college student on summer break working 8hour a day with 2hour break in between she earn 100Yuan (About 14USD) a full day of work.

Here my question for the local people in China. Is being paid 3USD a hour an normal wage in China? How the feel of China now during post-Covid time? Is there any truth about China facing a economic hardship at the moment? If there really is economic issues do you feel there are more girl working in this trade because of it and has the price for having fun increase because of inflation or deceases because of there being more supply of people servicing us.

Caveat_emperor: Thank you very much for sharing your information and experience. Was 15RMB a hour a common wage in China during that time period? Honestly with those low wages I would think it would be very unsustainable to live in China especially with such high housing prices.


sexyloser: You are right. Last time I visit China in 2019 as long as it wasn't a luxury place/food than the meal would be around 15yuan a dish also. I guess maybe because wages are so low than the food cost is low since there a correlation between them. Thank for your input on the subject.

https://www.youtube.com/watch?v=GtUksc85VNU

There are so many China weak business videos.  

Curious the Bay Area has been getting a lot of High Quality Mainland talent.  In China they may not be getting jobs, and getting desperate to make money.   If we all realize Mainland service does not justify the prices we can easily deflate their prices quickly.  The Kgirls are PSE kicking Chinese and Jgirls.   The extras prices we are given are ridiculous.  

China is facing serious deflation.  Can we guys be patient and wait for the prices to come down.  They are here on a time frame and if they don’t make money they can’t go home empty handed.

Guys don’t overpay and regret it.

https://www.youtube.com/watch?v=Wq6Tx-7t9Ws

This is very bad. China is trying to suppress the leaked videos.  We won’t know how many people died.

If you search China collapse in youtube you will find a ton of videos predicting the coming collapse of China and other such videos. These videos are just using "Chyna Bad, Collapse etc" as a way to farm views and ad revenue from people who acutally wish China is collapsing. Some in the west and other places can't bare to see China growing stronger every year so cope by consuming content like this. One such example is the video linked above this post by China insights. Look at their Channel and all their videos, its just a bunch of outright fake/exaggerated content designed to push an obvious narrative and people lap it up as that is want they want to hear.

Some common topics that gets brought up at lot:

Ghost Cities - Urban planning what is it? Go tell the people living there that they dont exist and their city is empty lol.
Empty High Speed Rail - seriously? just take a ride yourself.
Covid Deaths exceed 50 million - Lol
Companies moving production abroad - Not a bad thing, its mostly Chinese companies doing this as they move up the value Chain.
Fake GDP numbers - plain cope
People are being oppressed and about to rebel - Highest government support according to Harvard Study or is harvard a ccp shill too?
Chinese are brainwashed - could say the same about people unironically believing the China collapse theories


China is the biggest geopolitical rival of the west so many people in the west especially those who want China to do badly latch onto any slightly negative news in China, blow it way out of proportion then take it as a sign of China's impending collapse or some massive social upheaval. People like Gordan Chang, Peter Zeihan and many others have repeatedly predicted the collapse of China by XX date. Of course, they end up being wrong yet people somehow still end up being suprised one second, then go back believing the next bs china collapse story that gets cooked up. Its pretty comedic at this point.

Its not just random blogs or shitty youtube channels but also mainstream media too. Someone collected a list of China collapse headlines throughout the years which I pasted here:

1990. The Economist. China's economy has come to a halt.
1996. The Economist. China's economy will face a hard landing
1998. The Economist: China's economy entering a dangerous period of sluggish growth.
1999. Bank of Canada: Likelihood of a hard landing for the Chinese economy.
2000. Chicago Tribune: China currency move nails hard landing risk coffin.
2001. Wilbanks, Smith & Thomas: A hard landing in China.
2002. Westchester University: China Anxiously Seeks a Soft Economic Landing
2003. New York Times: Banking crisis imperils China
2004. The Economist: The great fall of China?
2005. Nouriel Roubini: The Risk of a Hard Landing in China
2006. International Economy: Can China Achieve a Soft Landing?
2007. TIME: Is China's Economy Overheating? Can China avoid a hard landing?
2008. Forbes: Hard Landing In China?
2009. Fortune: China's hard landing. China must find a way to recover.
2010: Nouriel Roubini: Hard landing coming in China.
2011: Business Insider: A Chinese Hard Landing May Be Closer Than You Think
2012: American Interest: Dismal Economic News from China: A Hard Landing
2013: Zero Hedge: A Hard Landing In China
2014. CNBC: A hard landing in China.
2015. Forbes: Congratulations, You Got Yourself A Chinese Hard Landing.
2016. The Economist: Hard landing looms for China
2017. National Interest: Is China's Economy Going To Crash?

In fact theres a whole industry behind it in Japan called where publishers contact Japanese researchers to get them to publish China collapse stories/predictions as these books sold well to the Japanese public. Look up 中国崩壊論 (China Collapse theory) if interested. These books are just fiction masquerading as "research" as they sell a fantasy to the reader. Theres only going to be more of these type of cope content in the future as China grows and becomes more of a threat to the US. Doesn't help that there is massive language barrier so most people in the west will only ever consume content about China in English with its obvious bias.

As someone who works in finance, do I see economic problems in China? Yes (Like real-estate) but so does every other country. All things considered at the moment, the economy in general is not doing too bad compared to the world esp looking Europe and the US but could be better of course. The global economy is not in a good shape at the moment.

As to how all this relates to punting, the shitty japanese economy has brought an influx of desperate JP girls to HK and other places so yay if you're into that.

[ Last edited by  dragon926 at 21-8-2023 05:10 ]

Can we please not make this forum into anything
political, and esp on China ?
Thank you

Is there some bad debt that requires deleveraging? Yes. But the threat of collapse are overblown. China has the people and the industrial capability to produce. A lot of sources dragon926 cited are perpetual pessimists and I don’t like them. Roubini has been forecasting doom everywhere . His argument is “xyz is not perfect, therefore xyz is doomed”. But nothing is perfect. He has been predicting a depression in the USA. I just don’t like him and his type.

In the clickbait universe we live in , gloom and doom sells. All countries worked together to solve Covid. Despite all the arguing I think everyone did a great job. The problem is that economics is so complex that no one can guess what will happen tomorrow but as long as countries are trading, most folks should be okay.

I think we will go back to the time when the world believed in free trade and global suspicion will be a thing of the past.

PS:
Don’t worry twiceaweek , we will keep this about economics and won’t delve into politics of any sort. But thanks for the warning.

[ Last edited by  Susanlixxx at 21-8-2023 22:06 ]

Yea I agree not trying to make this a political thing. I already know every country got political issues. All I want is economy information. Just like how I want to know how the inflation is like in America and how it affecting the interest rate and housing market. I would like to know what the wages like in China is like at the moment. By knowing the average person wages you can calculate the market price for everything. If the market going downhill than people need to make a living to pay for their basic needs. So if they don't have any major marketable skill but they can sell their time and accompany people in doing manual labor still need to figure out a reasonable price to pay for their time. Information is power.

Short term rates in usa are at 5%, 30 year mortgage at 7%. Will eventually overwhelm  most buyers. For now housing shortage Is keeping housing prices up but for how long ? Inflation has mellowed except in housing where people are spending substantial parts of their income. When adjustable mortgages go up, it will lead to more pain. Persons who locked in old rates won’t move.

Word from the street
The KPI (korean poon index) is up 7% this year while milf indices are holding up. This situation is not sustainable in the long term and the KPI upswing has already turned me into a buggered beggar. Don’t need mods to do it to me.

This is Bloomberg reporter susanlixxx reporting from punter street.

[ Last edited by  Susanlixxx at 23-8-2023 00:32 ]

https://www.youtube.com/watch?v=edCiBHToOVk

Tales of china’s demise are greatly exaggerated. Yes China is going through a challenging period and lack of business confidence to invest, driven by irrational or unpredictable policy decisions at the top. But China’s market is vast, the untapped potential is still there, and the government is making many wise investments in technology, research, and hard sciences.

China spoke for years about how the US is going the way of Japan and the UK, people underestimate how resilience modern economies are

Very interesting post. Were those lower rates at Foxconn the ones they offered new peeps after the protest when the workers returned to their dorms and found all of their possessions had literally been trashed and cleared out due to the zero covid policy concerns?

https://www.youtube.com/watch?v=wjj_mkc6b6s

Do you guys think that Hong Kong walk-ups will eventually be closed? And that there will be a Mainland style crack down on our hobby before the end of the decade?

@sexyloser – isn't it unreasonable to rule out some tightening, just as it happened to newspapers?

[ Last edited by  Hobbier at 27-10-2023 11:27 ]

@sexyloser – I agree, yet there might have been bigger priorities in the Mainland as well around the time Dongguan was "reformatted".

My friend is visiting Hong Kong, Macau this Dec.  Waiting to hear how things are post Covid.  Early reports on Thailand beginning of high season is very weak.  It is weird the only country lowering rates is China.  Every other country is raising/or raised rates.  

In my opinion 2024 will be an excellent year to travel overseas.  Americans need to think about the right countries to visit.  So much top Overseas talent visiting USA for the Dollar.  
This time around the marketing is top notch and quality is disappointing.  Price is high to crazy high.  Why? When dollar is so strong.  Domestically we don’t really know we are overpaying.