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Internet => EARN MONEY => Topic started by: Aquonut on February 08, 2024, 09:03:37 AM
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I want to know at what percentile net asset of one million (family) is in Shanghai, but I only found out the mean of net asset of Shanghai was 1.2 million dollars which was not meaningful because to know the percentle we must know the medium instead of the mean.(However, the medium is def way lower than the mean afaik)
I already have the data of Canada:
https://ibb.co/y42LnFV
So as per the data, it seems to me one million dollars can be at around the 70th percentile there, and I assume Shanghai is way poorer per capita than Canada since the GDP per capita of Shanghai is only $20000+ while Canada is $50000+, so I think it's reasonable to claim one million dollars can be above the 99th percentile there.
I am not sure if this projection is economically sound.
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I want to know at what percentile net asset of one million (family) is in Shanghai, but I only found out the mean of net asset of Shanghai was 1.2 million dollars which was not meaningful because to know the percentle we must know the medium instead of the mean.(However, the medium is def way lower than the mean afaik)
I already have the data of Canada:
https://ibb.co/y42LnFV
So as per the data, it seems to me one million dollars can be at around the 70th percentile there, and I assume Shanghai is way poorer per capita than Canada since the GDP per capita of Shanghai is only $20000+ while Canada is $50000+, so I think it's reasonable to claim one million dollars can be above the 99th percentile there.
I am not sure if this projection is economically sound.
Oh sorry. The 1.2 milion dollars data is not the one of *net* asset. It's the one of just asset.
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Am I wrong or in these posts there is really nothing about the incels, inceldom or at least something about the volcels?
How this Shanghai and economics topic should help the incels or will attract some to come here? ??? ::)
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An I wrong or in these posts there is really nothing about the incels, incelfom or at least something about the volcels?
How this Shanghai and economics topic should help the incels or will attract some to come here? ??? ::)
I found out there was no section this post fitted with, and I think since the users of this section are the most and the most active, I posted it here.
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Yes, maybe, in "Earn Money" which is the closest to these economics topics. No problem, I will move it there.
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OK, moved successfully! 8) Well, because it's really an interesting (China related and economy/economics related) topic let me say what I think and know about it now:
1. we must know the medium instead of the mean
-- very true, very right. Many people don't make difference between the mean and the medium. They just think that there is only one "average". And this is a problem.
2. In China (and other places too) it's a regular statistical trick (or just stupidity) to mislead the population that the average income is very good (and, of course, we should thank the "great" leader for this, right?) The typical example would be the case where nearly every person in a given population lives on about 4000 yuan a month, but there is a small elite with incomes in the tens of thousands (it implies more than 20,000). The numerical average can mislead many people by suggesting that the average Chinese person earns something like "(30 000 + 4000)/2", i. e. 17000 yuan monthly! ;D And this is, of course, ridiculous because the real situation is that most of the population in China can only dream of a month salary of ￥17000 (~$ 2,388)!
3. If you compare Shanghai with Canada, you better to specify which Canada do you mean, because as we talked before, in every country the GDP per capita (and the GINI index) differs from place to place. For example, I guess, if you compare Shanghai with Toronto or with Montreal maybe the Shanghai's per capita will be less but if you compare it with some small towns like Milton (https://en.wikipedia.org/wiki/Milton,_Ontario (https://en.wikipedia.org/wiki/Milton,_Ontario)) or Saint-Hyacinthe (https://en.wikipedia.org/wiki/Saint-Hyacinthe (https://en.wikipedia.org/wiki/Saint-Hyacinthe)) then Shanghai is likely better (about GDP per capita). Of course, I am not sure if these examples are 100% correct but what is really correct is that in every country the level is different when you compare the places (like comparing the GDP per capita in Korla /库尔勒/ and the same in Wuxi (无锡) or in Wanning (万宁)). But, sometimes, some small/smaller places may surprise you: according to one statistical source the highest Chinese mainland GDP per capita (after Hongkong and Macao) is in Karamay (克拉玛依); of course it's not really surprising if you know that that's an oil-producing (and refining) center.
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since the users of this section are the most and the most active, I posted it here.
;D Brocel, you're so funny! ;D ;D ;D ;D Cause the incels are the most and you'll post there about the economics? :P Next time try to post about nuclear physics and just wait the incels to be interested in and to answer you ;D I know some brocels are smart and do like edumaxx but to post something high-IQ in a board only because the number of the users is huge lollollol ;D
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To avoid repeat myself, check it out: http://www.seo-forum-seo-luntan.com/a-forum-for-incels-who-are-normal-people-no-terrorists-no-rapists-no-racists-no-pedophiles-no-haters-and-so-on/moved-is-net-asset-of-one-million-dollars-family-at-above-the-90th-percentile-in/msg51447/#msg51447 (http://www.seo-forum-seo-luntan.com/a-forum-for-incels-who-are-normal-people-no-terrorists-no-rapists-no-racists-no-pedophiles-no-haters-and-so-on/moved-is-net-asset-of-one-million-dollars-family-at-above-the-90th-percentile-in/msg51447/#msg51447)
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Why do you care so much? :P Are there girls who think you're still not enough rich for being in Shanghai with a Shanghai's bride? ;D ;D ;D ;D ;D ;D You know what's your problem? Targeting very high. Slow down, lower down your goals, expectations. Why the blue hell, you want to be someone successful in Shanghai when you can be x3 more successful in another city, town, or abroad in many places? Holy @#$^ ;D You can do it in so many other places, why you are putting in such a trouble? ;D Just because you are born there? I am afraid to think what it would be if you was born in Palestine...
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I don't know. And if it is or if it is not, how this will improve your situation?
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My ontopic short answer now... See, after in China showing bad economy data and even expressing simple criticism towards the economy issues isn't welcome and it may be even dangerous you can't expect to know if really in Shanghai or wherever the data is accurate. What we see for sure that under Xi it's getting worse economy wise, freedom wise, business wise and peace wise...
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It's one and the same for the rich and for the poor. If you're a beggar in Canada or in Shanghai, this is almost the same worst. Or if you're a billionaire, then in Namibia, Guatemala, Malaysia or Shanghai, you're just having a dreamful life.
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OK, moved successfully! 8) Well, because it's really an interesting (China related and economy/economics related) topic let me say what I think and know about it now:
1. we must know the medium instead of the mean
-- very true, very right. Many people don't make difference between the mean and the medium. They just think that there is only one "average". And this is a problem.
2. In China (and other places too) it's a regular statistical trick (or just stupidity) to mislead the population that the average income is very good (and, of course, we should thank the "great" leader for this, right?) The typical example would be the case where nearly every person in a given population lives on about 4000 yuan a month, but there is a small elite with incomes in the tens of thousands (it implies more than 20,000). The numerical average can mislead many people by suggesting that the average Chinese person earns something like "(30 000 + 4000)/2", i. e. 17000 yuan monthly! ;D And this is, of course, ridiculous because the real situation is that most of the population in China can only dream of a month salary of ￥17000 (~$ 2,388)!
3. If you compare Shanghai with Canada, you better to specify which Canada do you mean, because as we talked before, in every country the GDP per capita (and the GINI index) differs from place to place. For example, I guess, if you compare Shanghai with Toronto or with Montreal maybe the Shanghai's per capita will be less but if you compare it with some small towns like Milton (https://en.wikipedia.org/wiki/Milton,_Ontario (https://en.wikipedia.org/wiki/Milton,_Ontario)) or Saint-Hyacinthe (https://en.wikipedia.org/wiki/Saint-Hyacinthe (https://en.wikipedia.org/wiki/Saint-Hyacinthe)) then Shanghai is likely better (about GDP per capita). Of course, I am not sure if these examples are 100% correct but what is really correct is that in every country the level is different when you compare the places (like comparing the GDP per capita in Korla /库尔勒/ and the same in Wuxi (无锡) or in Wanning (万宁)). But, sometimes, some small/smaller places may surprise you: according to one statistical source the highest Chinese mainland GDP per capita (after Hongkong and Macao) is in Karamay (克拉玛依); of course it's not really surprising if you know that that's an oil-producing (and refining) center.
Well I mean relative to the long-term residents of Shanghai and of Canada, and I am comparing Shanghai to whole Canada.
And yeah the Central Bank may have played some dirty tricks to beautify the data. They did that before to persuade economical ignorants into that the houseownship rate of the cities of China was 98%!(or maybe lower. I forget the number sorry) And the medium of the asset(family)was $17142(or maybe higher. I forget the number)! These are ridiculous if you really know about the real economy of China. After some people had found out the samples were all long-term residents, we knew that the Central Bank played a trick again... Of course the houseownship rate of long-term resident is very high. Would you not say the ratio of girl is not very high if you investigate into the ratio of girl of a nunnery? Would you not say the ratio of 700+ Gaokao high scorer is not very high if you investigate into the ratio of 700+ Gaokao high scorer of Qsinghua/Peking Uni? See how slippery CCP is? :P They are always playing tricks on the people of it to persuade them into that China is very powerful, China is very rich, China is way better than Taiwan and America, etc..
However, I learned from Rupert's data and the data of the Central Bank that, net asset of $85714 was at the 90th percentile relative to long-term residents of Shanghai and the medium of the net asset of them was way way lower than $117142(you know how astronomically large the gap of socio-economic stratum of every region of China is right?), and since Rupert's data is deflated(not much however), we have to say CCP is not very wrong on the data of it, and my answer to my own question is: pretty much
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My ontopic short answer now... See, after in China showing bad economy data and even expressing simple criticism towards the economy issues isn't welcome and it may be even dangerous you can't expect to know if really in Shanghai or wherever the data is accurate. What we see for sure that under Xi it's getting worse economy wise, freedom wise, business wise and peace wise...
My take is that Rupert's data are the most accurate, since I learned from an economically-knowledgable guys that Rupert's data were deflated but not much. The data of the Central Bank is secondary accurate because you know CCP likes playing tricks on the people of it because... well you know :P. The other things including the data of a random college student's survey, a random web user's claimed 'data' are even inaccurate. Remember Economics is not something like Love Psychology, for which you can produce accurate data by just doing a survey to the students of your college or something like that, particularly since 'Founder Effect' of China is extremely extremely big and the gap of socio-economic stratum of it is also extremely extremely large(I think if we rank countries by the gap of socio-economic stratum, I won't be surprised if China is ranked #1 at all...), not to mention that a nativer in a random region is likely to boast about the economy of it to boast the 'faces' of all of the other nativers. Nowadays you can even see some retards claim that if you do not have current asset of $2857142 you are not rich in Hangzhou ;D.
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But you still believe that there is something like CCP that controls China?
It's strange. Why when it comes to Russia or North Korea everyone knows that the real subject of control is Putin or Kim, not the parties. But when it comes to China, many people are blind to see the Xi's full control?
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Let's suppose that in some Canadian areas the standard is way better than in Shanghai but in others it isn't. So, what then? :)
Maybe you should worry more about where you are more free, where the chance to occur war is bigger and so on. What if you are richer in Shanghai but living with hundres of limittions and restictions + living in fear that tomrrow "your" "dear leader" may decide to fight against some nation around and you to die in this war?
Where is the value of living in a big jail and being a potential soldier of a crazy dictator even rich VS living a bit poorer but knowing you're free, you choose your leaders and the chance your country to initiate a war is less than 1%?
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I'll comment the interesting and important (from my perspective) points:
1. "These are ridiculous if you really know about the real economy of China."
One of the best present Chinese politicians (Li Keqiang, he was a Chinese economist and politician who served as the premier of the People's Republic of China from 2013 to 2023) said that he prefers to believe what he can observe (like how many trains with goods you can see, how many things people are shopping, etc.) than the data from the statistics in China. A good man, compared with the present Chinese neo-emperor (dictator, autocrat) Xi Jinping, who died too early (and if someday someone prove that he was killed, I won't be surprised.)
So, this is my way, Li Keqiang's way, to know (to some extent) how is the Chinese economy now. When I see/read/hear there are many people who have to close their shop, restaurant or another their business; there are many young people who (even with good majors and degrees) can't find job; there are people who're willing to leave China more than before, etc., I already know that the Chinese economy is in trouble. (And I was one of the firsts people who, even still in China, predicted the troubles soon after the crazy "COVID 0" policy and even criticized it openly, here and in front of many foreigners and Chinese there! Take a look: "Zero COVID" -- policy of the impossible against which I protest (http://www.seo-forum-seo-luntan.com/health/coronavirus-disease-(covid-19)/msg45734/#msg45734))
2. "See how slippery CCP is?"
See how you're a victim of an old habit to think that after the emperorization (neo-emperorization) of China (i. e. when neo-emperor Xi arrests, kicks out the CCP members he dislikes and controls all of the members of the CCP, i. e. all the so-called Party is just a tool) you still thing that there is some political subject like "CCP' who may be slippery or something else. When you're just a political tool and without any power to oppose the one who controls you, you're just an object. CCP is already not a real Chinese Communist Party, it's a XiP, i. e. a "Xi's Party" (To make sure this time I am more clear, let's use Chinese characters: "习党"). And to make it most clear I will ask you this: when you're thinking about North Korea, for example, do you believe that the ruler there is 조선로동당 (Workers' Party of Korea)? Did you ever even heard about this party? Of course, probably, not because you don't have to. It's clear that it's a de facto monarchy state which is under control of "Kim III" (Kim Jong-Un). How about Russia? Do you know the parties over there? You know Putin (the Russian neo-emperor; dictator; autocrat)... But when it comes to China, "Oh, no Xi, it's all CCP, CCP, CCP..." Why?! Until when? Why it's a collective responsibility (CCP = all CCP people or the higher positions ones) when the CCP is a tool of that one person? Why can't he be solely responsible? Why not sole responsibility (individual responsibility)? Is he so invisible?
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I think your reasoning makes sense overall, but jumping to the 99th percentile might be a bit high for Shanghai. While the GDP per capita is much lower than Canada, Shanghai is a major financial hub with a significant number of wealthy individuals, so the wealth distribution is likely skewed. If I had to guess, $1 million might put you in the 90th-95th percentile range, but probably not above 99th. I’ve seen some discussions online where people mention how property values alone in Shanghai can inflate net worth significantly, even for middle-class families, so it’s hard to say without more detailed data on the median.