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this post was submitted on 20 Oct 2023
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"Let's talk about all the cheap Chinese labour that Apple uses despite being the 10th richest company in the world."
"Let's not."
Chinese people deserve jobs too. Comparative advantage is a good thing that helps everyone involved.
The Yuan is currently trading at 7.32 to 1 USD
Companies that appease the CCP are the problem, not companies that leverage exchange rates to better lives globally.
Chinese people deserve good jobs, not jump off of a building to kill yourself, but wait your the 4th person to do that this month so they installed a net jobs.
I am questioning where I supported Chinese government policies here?
Because the initial concern was pay, and that's due to not understanding economic factors. I don't support Chinese labor regs at all.
In fact I said
"Companies that appease the CCP are the problem" which I also thought was a nice little pun, given the show being discussed.
I wonder why labor is cheaper in China.
Chinese people also deserve to not be sent to internment camps.
Yeah totally. Fuck the Chinese government.
Yes, fuck the Chinese government.
And the corporations, both Chinese and American, that help support it.
Depends on what that means imo. Global trade theoretically supports the Chinese government, because money is fungible, but is a net positive all around.
The Chinese will never stop clinging to autocracy without wealth of their own.
The "Chinese" will never have wealth, ask Jack ma.
The ccp would burn China to the ground before releasing an ounce of their power and stolen wealth.
That is not an excuse to stop trying to empower the Chinese to rise against their hellstate.
Capitalism broke the USSR and it will break the CCP.
No, just like capitalism didn't break the states that later formed the confederacy.
Even after they lost formal slavery they put horrible policies into effect like Jim crow and share cropping that allowed them to keep slavery in all but name, but were entirely compatible with capitalism.
Haiti understands this.
We need to stop enabling authoritarians, who do you think taught them how to build the great firewall, they bought literally all of their technology till now from us.
It literally did though. That's why they went to war - the writing was on the wall.
That means nothing without knowing the total supply
It means everything when talking about people's pay.
For that you need 2 data pieces:
You then use the second to convert the first into US Dollars so that you compare the Chinese salaries in USD to American salaries is USD.
Merely the second piece of data wIthout the first means nothing if you're trying to compare salaries.
For example, before the Euro the Italian Lira used to have a cross currency exchange rate with the dollar which was thousands of lire per dollar and that didn't mean Italians in the 80s were incredibly poor: because for every dollar the average US worker received in their salary the average Italian worker got thousands of lire, all put together mean they got about 1/2 to 1/3 of a US salary rather that the 1/1000 that by your the exchange rate alone suffices "logic".
By the way, that cross currency exchange rates are meaningless to compare incomes or costs without the actual incomes and prices in the local currency, is really, really, REALLY basic financial knowledge.
Boy you sure do sound like you just got your MBA. Chasing the cheapest labor and lowest regulations really doesn't douch for the populace other than make them slave laborers for better products for the benefits of other nations.
If the wages are the same across multiple industries then it doesn't really help right? It's just taking advantage of a poor countryand enriching higher members of that country who actually do see the most profit gained.
It might help in getting advanced manufacturing set up in the country but that actually also hurts countries that rely on advanced manufacturing to keep GDP high when they are creating their competitors while doing little investment into themselves.
So yes it works to get the cheapest product possible but it's really not the super helpful beneficial concept that you think it is and the whole world is not richer for these jobs we give to them to enrich further a group that just chases the quickest profit.
What a strange take when a mountain of evidence is right in front of you. China went from "nothing but cheap labor" to the next world superpower because of exactly this kind of exchange. They have modern cities with rapid transit, EVs, and a top tier domestic tech industry.
Well yeah I mean I kinda covered that. They now have advanced tooling and active investments into their infrastructure and country. It's not yet actually reaching the majority of China and there is still wide issues with these investments. But now companies will have to find the new cheap labor if there is increasing access to jobs that are to pay enough for the citizens to access these higher standards.
A country can't be cheap labor and an important market without either massive divide in the populace or slave labor.
And if they can't get cheap labor there anymore these companies will leave and create rust belts like there are in the US. At which point the advanced manufacturing arm and service economy could take over if it's built enough but they join into a already crowded space with dwindling access to resources. Not to say things haven't gotten better in sense of moving forward technologically and amenities wise but that is basically always a guarantee of time passing. But this hunt for cheap goods for top level enrichment is not a wholly good venture and is quite destructive in ways that take little effort to see.
Companies in China ARE the CCP. Nothing is actually privately owned. Everything is owned by the government, so giving any money to a company in China is supporting the CCP.
$3 per hour.
Ok?