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Author Topic: Please stop with the China hype  (Read 2904 times)
randrace
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May 10, 2013, 11:10:40 PM
 #21

Give it up, Please stop with the China hype! You will never be For those who still doubt China is a hype.

You are like the The China Hype Fades Away of China Hype Threads!
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May 10, 2013, 11:13:59 PM
 #22

unfortunately the average chinese annual family income is $25/ year. so each of them were only able to invest about 10 cents.

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?
I was going to say, last I heard, Chinese factory workers were getting something like $3/hr, and companies were moving AWAY from China because their labor had become so expensive in recent years.
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May 10, 2013, 11:19:17 PM
 #23

http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2

Baidu search results exploding up again?

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randrace
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May 10, 2013, 11:27:51 PM
 #24

http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2

Baidu search results exploding up again?

Haha! Put that in your China Hype Pipes and smoke it, you Anti-China Hype Types!
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May 10, 2013, 11:43:44 PM
 #25

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?

GDP per capita doesn't = personal income. It is more useful to indicate standard of living.

Average gross salary = USD $457 monthly (2010), or ~ $5500/year. http://en.wikipedia.org/wiki/Economy_of_China

$40k? LOL.....

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May 10, 2013, 11:58:00 PM
 #26

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?

GDP per capita doesn't = personal income. It is more useful to indicate standard of living.

Average gross salary = USD $457 monthly (2010), or ~ $5500/year. http://en.wikipedia.org/wiki/Economy_of_China

$40k? LOL.....

Average gross salary ≠ household income. At 4 people per household, that would still be around $22k.
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May 10, 2013, 11:58:42 PM
 #27

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?

GDP per capita doesn't = personal income. It is more useful to indicate standard of living.

Average gross salary = USD $457 monthly (2010), or ~ $5500/year. http://en.wikipedia.org/wiki/Economy_of_China

$40k? LOL.....

Average gross salary ≠ household income. At 4 people per household, that would still be around $22k.

I simply said that you can't calculate income based on GDP.

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May 10, 2013, 11:59:49 PM
 #28

Huh

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

Where do you get $25/year from?

GDP per capita doesn't = personal income. It is more useful to indicate standard of living.

Average gross salary = USD $457 monthly (2010), or ~ $5500/year. http://en.wikipedia.org/wiki/Economy_of_China

$40k? LOL.....

Average gross salary ≠ household income. At 4 people per household, that would still be around $22k.

I simply said that you can't calculate income based on GDP.

If you didn't take my quote out of context, you would have know that I was referring to household income, of which the corrected number is still far larger than $25/year.
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May 11, 2013, 12:10:04 AM
 #29

If you didn't take my quote out of context, you would have know that I was referring to household income, of which the corrected number is still far larger than $25/year.

 Huh

Nobody took you out of context. You used an irrelevant statistic to calculate income. That's all I said. You talk as if I claim that $25/year is correct...

In fact, you used GDP per capita to calculate personal income, which you then used to estimate household income. So, you're being kind of ridiculous here.

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May 11, 2013, 12:27:48 AM
 #30

If you didn't take my quote out of context, you would have know that I was referring to household income, of which the corrected number is still far larger than $25/year.

 Huh

Nobody took you out of context. You used an irrelevant statistic to calculate income. That's all I said. You talk as if I claim that $25/year is correct...

In fact, you used GDP per capita to calculate personal income, which you then used to estimate household income. So, you're being kind of ridiculous here.

I revised my calculation with your numbers. I got $22k, which is closer to $40k than it is to $25. Regardless of the precise number, it is far greater than $25.

Also, please act more civilly.
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May 11, 2013, 12:42:06 AM
 #31

If I remember correctly its like 4,000 usd per person if you only look at middle 50% of earners


If you didn't take my quote out of context, you would have know that I was referring to household income, of which the corrected number is still far larger than $25/year.

 Huh

Nobody took you out of context. You used an irrelevant statistic to calculate income. That's all I said. You talk as if I claim that $25/year is correct...

In fact, you used GDP per capita to calculate personal income, which you then used to estimate household income. So, you're being kind of ridiculous here.

I revised my calculation with your numbers. I got $22k, which is closer to $40k than it is to $25. Regardless of the precise number, it is far greater than $25.

Also, please act more civilly.

I am an investor, entrepreneur, and CEO @BTC Media http://www.linkedin.com/pub/david-bailey/22/641/b53 ...
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dree12
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May 11, 2013, 12:46:53 AM
 #32

If I remember correctly its like 4,000 usd per person if you only look at middle 50% of earners


If you didn't take my quote out of context, you would have know that I was referring to household income, of which the corrected number is still far larger than $25/year.

 Huh

Nobody took you out of context. You used an irrelevant statistic to calculate income. That's all I said. You talk as if I claim that $25/year is correct...

In fact, you used GDP per capita to calculate personal income, which you then used to estimate household income. So, you're being kind of ridiculous here.

I revised my calculation with your numbers. I got $22k, which is closer to $40k than it is to $25. Regardless of the precise number, it is far greater than $25.

Also, please act more civilly.

$16k is still awfully larger than $25, no?
MAbtc
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May 11, 2013, 12:52:56 AM
 #33

I revised my calculation with your numbers. I got $22k, which is closer to $40k than it is to $25. Regardless of the precise number, it is far greater than $25.

Also, please act more civilly.

Geez. Last time.

If you're using irrelevant statistics, none of this matters. I never claimed $25 was right (nor would I -- talk to the person who said it). Not sure why you keep mentioning that.

Also, average household size is 3.10, not 4. http://en.wikipedia.org/wiki/Demographics_of_China#CIA_World_Factbook This would put the number around $17k, not $22k. (So, $25 is actually closer)

Again, all I said was that your numbers were wrong, and I explained why. That's it. Why you're so defensive, I can't imagine, considering your numbers are so off... Lesson learned -- next time you pull numbers out of your ass, I'll simply ignore you.

Likewise, don't lash out with strawmans and accuse people of "taking you out of context" just because you're being called out for making up numbers. Considering that, I have been civil.

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May 11, 2013, 01:00:28 AM
 #34

China GDP per capita = $10000

Family = 4 people

Therefore, average family income = $40000/year.

I don't think the 2 kids work. And what about the 1 child policy?

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DavidBAL
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May 11, 2013, 01:02:57 AM
 #35

I revised my calculation with your numbers. I got $22k, which is closer to $40k than it is to $25. Regardless of the precise number, it is far greater than $25.

Also, please act more civilly.

Geez. Last time.

If you're using irrelevant statistics, none of this matters. I never claimed $25 was right (nor would I -- talk to the person who said it). Not sure why you keep mentioning that.

Also, average household size is 3.10, not 4. http://en.wikipedia.org/wiki/Demographics_of_China#CIA_World_Factbook This would put the number around $17k, not $22k. (So, $25 is actually closer)

Again, all I said was that your numbers were wrong, and I explained why. That's it. Why you're so defensive, I can't imagine, considering your numbers are so off... Lesson learned -- next time you pull numbers out of your ass, I'll simply ignore you.

Likewise, don't lash out with strawmans and accuse people of "taking you out of context" just because you're being called out for making up numbers. Considering that, I have been civil.

4k was not per capita but per wage earner... so about +8,000 usd per house hold.. that why lots of families live with parents/grandparents... really bitcoin success in China will not be defined by the masses imo (in the short/medium-term), but rather the more affluent top 5% who have the savings to speculate... so like 100 million people? Thats maybe like twice or three times the number I expect in USA..

Perhaps of most interest tho is what role if any bitcoin will take in China's shadowing banking industry... which now rivals their actual banking system in size

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michaelGedi
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May 11, 2013, 01:22:19 AM
 #36


I went all in because of this thread

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May 12, 2013, 04:12:37 AM
 #37

I don't know if we should stop the China hype?  I had some Chinese food and this was in my cookie!!!!  Grin




Maybe they know something? 


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May 12, 2013, 08:24:48 AM
 #38

unfortunately the average chinese annual family income is $25/ year. so each of them were only able to invest about 10 cents.


nope.jpg

that's the official income

here a hint. They still buy big stuff in gold, eg houses.

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May 12, 2013, 11:07:45 AM
 #39

I don't know if we should stop the China hype?  I had some Chinese food and this was in my cookie!!!!  Grin




Maybe they know something? 




HYPE!!

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