alt Hacker NewsYeah but China is a low cost economy, rent, food and things like transport and electricity are cheap. That means employers simply can pay workers less than the USA because the cost of living is so high in the USA.
Yeah but China is a low cost economy, rent, food and things like transport and electricity are cheap. That means employers simply can pay workers less than the USA because the cost of living is so high in the USA.
Right…which means China is managing their economy better. It’s not like the commenter above us who claims it’s all about repression and restriction.
Literally last night the US president stated that his policy is to keep real estate expensive, and his main attempt to lower housing costs is by lowering mortgage rates, a policy which is incredibly short-sighted and squeezes American workers more. It also won’t work as housing is sold at market value: lowering rates will increase sale prices as buyers compete on available supply and the amount they can pay on a monthly basis.
I am not specifically trying to get political about it, but the Republican Party is generally opposed to public transit and is essentially anti-urbanism. They view cities as dangerous bad places with evil Democrats in them. They have done things like holding federal transit project funding hostage to MAGA demands.
Meanwhile, you don’t need to own a car to live in China and get around. They built out the world’s premier high speed rail network, and they’ve built massive metro systems in their cities rapidly.
Those “ghost cities” in China? That’s also known as “available housing.” They usually eventually get filled. Americans paying above-inflation rates for homes would envy that sort of thing.
Most other countries including China would consider the high cost of healthcare to be a pressing national emergency, but the US government has allowed the insane status quo fester.