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Larry Lang: Why did the Chinese people's income is lower than the
African poor brother
?We do an arithmetic problem, the wage income people across the country together,
except on the country's GDP, have such a number, we have to make a
comparison, the highest in Europe and America, about 55%, South America the
average is 38% Southeast Asia including the Philippines and Thailand is 28%, the
Middle East, Iran and Turkey is about 25% of these countries, African countries are
below 20%, I used to lecture to ask a question, do you think that China's
ratio is the number with which countries are close to The results 90% of people say
our country is a level with Africa, and then I tell them that you really are too
optimistic, to tell you that we Chinese are 8%, lowest in the world. I'll give
you a data, per capita wages, first in Germany, 30 dollars an hour, the second is the
United States, 22 U.S., we are 8 cents an hour and is the world last. Thailand is 2
dollars, we are worse than in Thailand. But the Chinese people are industrious nation,
our world's longest average working hours. We have to work 2200 hours a
year, the United States far less than those of us. You see that our workers more Niua,
take the minimum wage over the world, the longest working hours around the world,
how hard-working people.
We look at other data, GDP, until last year we increased substantially, but the savings
it increased very slowly, so what we have heard in recent years driven GDP, what
GDP has increased by 10%, to later find that with Meisha relationship between the
people we, the people's wealth and no corresponding increase but with the
widening gap between GDP. Our income is running, but CPI, they run, but GDP. After
starting the slowest run is our income.
Like to do before the investment bank Credit Suisse report, said that after 2004
China's household income increased by 50%, I told you that is nonsense,
do not trust them, you have to know foreign investment banks to write research
reports are there for a purpose, such as that pull stock price, or want to do in China.
This is especially evident in Hong Kong, to lift stock prices, said the company is very
good, and then pressure down, make a lot of money. They specifically do such a thing.
Back to the topic, why are we so hard, the world's most tired or earn so
little, according to my analysis for two reasons. I recently read so many reports
Academy of Social Sciences, or the arguments of some scholars, the basic work in
vain. What is China's large population, system problems, are nonsense.
According to my analysis, for two reasons, one of the most important reason is that
Europe and the United States for our exploitation. I recently wrote a book that is
called the "new imperialism in China", I tell you friends that
you work so hard, you think you earn a lot of you, in fact, you should earn the money
10 times 才对. We take the toys Dongguan, for example, we say that toys No ah,
profit margins too low, then the U.S. toy company does, its gross margin over 40% in
2007, and the chip is the same. Why, because it makes production, it controlled the
pricing of our toy sales, price it the final say, so it gives us a dime of the profits of a
toy, a toy and they make 3.6 U.S. dollars. This is why the year of his workers can earn
40 000 dollars, and our workers can only earn 2,000 dollars a year. So even if we
worked hard from morning till night every day, but they have pricing power, so they
can be swept across most of the profits, exploitation of our light. Then also in toy
factories, for example, toys you buy plastic pellets, plastic pellets what is chemical
products, chemical products throughout the world price of that is who controls it, Wall
Street control. So when you buy raw materials also found that you do not have pricing
power, the price is controlled at the hands of others, we are just stuck in the middle of
the manufacturing industry, when it purchased raw materials, the price is controlled
by Wall Street, when it sold, the price is other foreign big business control. Said
another academic point, purchase of raw materials is Wall Street's financial
capital to control our prices, sales of industrial capital to control our prices, after the
tiger in front of the wolf, which is why we will exploit the clean. Talk back, why
should we create on China because it destroys the environment, waste of resources,
exploitation of labor, so they placed them in China, they are only part of the profits of
the two major control in the hands of financial capital and industrial capital . So I
doubt 30 years ago when China began the reform and opening up, Europe and the
United States have drawn up a national strategy, which is Touguo financial capital,
industrial capital, control of raw materials, control sales pricing, and then to
manufacturing on the Chinese , destroy our environment, waste our resources, and
finally across the capital through our exploitation of the dried out quietly, so the more
reform in China, China's more open, more manufacturing in China, Europe
and the United States richer.
Then some may ask me, also exploited the country, why do we higher than Thailand
and Philippines do worse in these countries. This leads to the second reason. That is,
the past few years our industrial policy bias, and how bias it, we have most of the
social resources Na Quxiu bridge paving, so putting us off our 10% annual growth in
GDP, in fact, most of reinforced concrete. We like the CPI in 2008 was 35% in 2009
to become 25%, steel and concrete in 2008 was 57%, in 2009 more than 70% change,
which is what this means, it means that our entire society to create wealth, and
capable of consumer resources, were you brought out a steel and concrete. And some
projects simply can not generate revenue, as we have new highways, tolls collected
could only pay its electricity bills, how you want them can have a positive
contribution to our society.
Apart from the above that very low wages than those, I would like to say that inflation
in China is very serious. Appreciation of the yuan is currently overseas, domestic and
severe devaluation. For example, our 97 gas prices 1.3 times the United States, the
cinema was twice as high, Armani suit in the United States three times, 54-inch
Panasonic color TV is the United States, 3.4 times, BMW Z4 us to buy 90 000 U.S.,
the United States is 3 million dollars, Levis jeans, we are the United States seven
times, what we expensive than the United States. The same price of a piece of land,
the United States is a villa for one person, we are 1,000 people living high-rise
buildings. So we find we will be so rampant piracy, because only 3 dollars a disc in
our income levels.
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Professor Lang: Wharton School, University of Pennsylvania, Dr.. Cheung Kong
Graduate School (Principal) Professor. In 2003 the world's most influential
economists. Wharton, Michigan State University, Ohio State University, New York
University and the University of Chicago professor. The Chinese University of Hong
Kong, the highest academic level (chief), Professor. Sohu's chief economic
adviser. World Bank, the Shenzhen Stock Exchange and the Hong Kong Government
Financial Services Corporate Governance Advisor. Journal of Finance paper in 1990,
the rate ranked the world's first best-selling book, "Corporate
Governance" of the author.




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