. said:

So...

Greece lowers minimum wage to stimulate economy. China raises minimum wage to stimulate economy. Who's right?

Does it matter?
\

. said:

Seems like they're copying Hayato Ikeda's income doubling plan from the sixties.

. said:

Prepare to be our bitch, bitch!
\


http://www.bloomberg.com/news/2012-02-28/shanghai-raises-minimum-wage-13-as-china-seeks-to-boost-consumer-demand.html

China's financial hub of Shanghai joined Beijing and Shenzhen in boosting the minimum wage this year as policy makers seek to spur consumer spending and a shrinking labor surplus pushes up salaries.

Policy makers in the world's second-biggest economy are trying both to keep inflation in check and shift the nation's economic growth toward domestic demand. Promoting consumption by raising wages would facilitate such a transition, said Tim Condon, chief Asia economist at ING Financial Markets in Singapore.

In 2011, 24 provinces and municipalities raised minimum wages by an average of 22 percent, according to the Ministry of Human Resources and Social Security. Shanghai's rose by 14 percent.

. said:

That's the difference between China and the US. China is actually trying to grow their economy. In the US, the goal is personal gain and fuck the country.

Romney's position on tax cuts is the most recent example of this. Even though Bush's tax cuts have proven to be disastrous for the US economically, Romney wants not only to extend them, but to cut taxes even more.

He doesn't care about what's best for the US economy, he just wants to help the 1% pocket a larger amount of cash.

. said:

. said:

Prepare to be our bitch, bitch!
\


http://www.bloomberg.com/news/2012-02-28/shanghai-raises-minimum-wage-13-as-china-seeks-to-boost-consumer-demand.html

China's financial hub of Shanghai joined Beijing and Shenzhen in boosting the minimum wage this year as policy makers seek to spur consumer spending and a shrinking labor surplus pushes up salaries.

Policy makers in the world's second-biggest economy are trying both to keep inflation in check and shift the nation's economic growth toward domestic demand. Promoting consumption by raising wages would facilitate such a transition, said Tim Condon, chief Asia economist at ING Financial Markets in Singapore.

In 2011, 24 provinces and municipalities raised minimum wages by an average of 22 percent, according to the Ministry of Human Resources and Social Security. Shanghai's rose by 14 percent.

That's the difference between China and the US. China is actually trying to grow their economy. In the US, the goal is personal gain and fuck the country.

Romney's position on tax cuts is the most recent example of this. Even though Bush's tax cuts have proven to be disastrous for the US economically, Romney wants not only to extend them, but to cut taxes even more.

He doesn't care about what's best for the US economy, he just wants to help the 1% pocket a larger amount of cash.

Independent.Voter said:

Shit like that is why I've decided to vote for Obama this time around. Romney just doesn't care about America.

. said:

Independent.Voter said:

Shit like that is why I've decided to vote for Obama this time around. Romney just doesn't care about America.

With the economy turning around, and everything, I'm voting for Obama too.

Independent.Voter said:

Shit like that is why I've decided to vote for Obama this time around. Romney just doesn't care about America.

President Obama has my vote.

Independent.Voter said:

Shit like that is why I've decided to vote for Obama this time around. Romney just doesn't care about America.

. said:

One day the Chinese will have higher wages than Americans.

. said:

Singapore does not have a minimum wage. They also have low taxes, low government spending, pro-business capitalism, crush labor unions, virtually no welfare safety net, and a focus on practical results instead of idealism.

They also impose moral order, and emphasize a traditional family culture, so people lean on their families instead of government spending. Death penalty for drug dealers, homosexuality is illegal, censorship means TV programs can't glamourize homosexuality.

RESULT: Singapore is now the richest country in Asia. Singapore has 2% unemployment, 45 years of non-stop explosive economic growth on a tiny island with no resources, universal healthcare, top performing public schools, safe clean neighborhoods, low divorce rate, high savings rate, rated one of the least corrupt countries in the world, one of the few countries with AAA credit ratings from all 4 ratings agencies, and NO SLUMS.

. said:

Singapore does not have a minimum wage. They also have low taxes, low government spending, pro-business capitalism, crush labor unions, virtually no welfare safety net, and a focus on practical results instead of idealism.

They also impose moral order, and emphasize a traditional family culture, so people lean on their families instead of government spending. Death penalty for drug dealers, homosexuality is illegal, censorship means TV programs can't glamourize homosexuality.

RESULT: Singapore is now the richest country in Asia. Singapore has 2% unemployment, 45 years of non-stop explosive economic growth on a tiny island with no resources, universal healthcare, top performing public schools, safe clean neighborhoods, low divorce rate, high savings rate, rated one of the least corrupt countries in the world, one of the few countries with AAA credit ratings from all 4 ratings agencies, and NO SLUMS.

. said:

Singapore has no military, which is why they are able to afford all those social programs.

That's the key to their success.

. said:

- Singapore spends 5-6% of GDP on military spending.

. said:

That's nothing. US spends 45%. Almost half of GDP.