The typical Chinese adult is now richer than the typical European adult, a new wealth report finds

[jhungary]

Undergraduate means zero degree... Are you telling me a trainee for diving course are qualify to go diving himself alone?

Dude, are you serious?

Do tell me why you go to university then?? Do you ALREADY have a degree before you go to university? Or you want to get one, so you go to the University for one??

I don't know you need to already have a degree to study as an undergraduate at university. Maybe that's how China work?I don't know.............

 

[Beast]

Dude, are you serious?

Do tell me why you go to university then?? Do you ALREADY have a degree before you go to university? Or you want to get one, so you go to the University??

..........

What are u talking about? Are u even talking sense?

Trainee are trainee. They have zero accomplished yet. They are not qualify to dive. Same as undergraduate.

 

[jhungary]

What are u talking about? Are u even talking sense?

Trainee are trainee. They have zero accomplished yet. They are not qualify to dive. Same as undergraduate.

You go to university as an undergraduate to train for a degree, that's why a bachelor's degree is called "Undergraduate" course.

If you already have a degree, you are a "Graduate" and you enroll in Graduate course, like post-Graduate diploma, master's degree, and Doctoral. But these all are not what we are talking about.

You don't need an "accomplishment" to study in both University and College, you went there to get the accompishment......

Dude, what the hell are YOU talking about???!!!

 

[Beast]

You go to university as an undergraduate to train for a degree, that's why a bachelor's degree is called "Undergraduate" course.

If you already have a degree, you are a "Graduate" and you enroll in Graduate course, like post-Graduate diploma, master's degree, and Doctoral. But these all are not what we are talking about.

You don't need an "accomplishment" to study in both University and College, you went there to get the accompishment......

Dude, what the hell are YOU talking about???!!!

What happened if the drops half way and can't completed the course. Are u going to call him a degree holder? Never say some too early. My stance still stands. Just becos you are undergraduate, doesn't mean your degree is sure.

 

[Hamartia Antidote]

Only US President Biden can enjoy diplomatic etiquette of the same level.

No, they didn't supply us with cars. We always bring multiple Presidential motorcade cars on planes (with at least 2 being Presidential limos). Any others are likely local US embassy cars.

I see at least 4 vehicles with American style license plates (brick shaped not the local elongated) and another 2 being backed off the plane.
2 Cadillac limos ( with 1 seen driving off the plane)
1 Chevrolet SUV (also seen driving off the plane)
1 Ford Van
1 white boxy Ambulance

others
+ 1 dark boxy vehicle with no plates whatsoever (also seen driving off the plane)
+ 1 HUGE white truck (seen driving off the plane)

 

[RescueRanger]

Struggling is relative. Our median household income is $67,000. If people had to truly hunker down and give up silly things like their Netflix (74% of households), premium cable channel packages, and $47,000 SUV's struggling wouldn't be as bad.

Have to agree with the SUVs, my cousin who lives in the states messaged me h just bought a new F150 on finance, his old truck is barely 5 years old.

Why do people in the west spend so much on financed cars is beyond me.

No, they didn't supply us with cars. We always bring our own Presidential motorcade car on a plane (at least 2). The rest are likely embassy cars.

Can confir this as a good friend works for mt police diplomatic Protection. The US is the only country with a special agreement to allowing the US secret service to use their own vehicles during escort of POTUS in the UK.

There is a special dispensation in UK law for it. No other diplomatic mission is given this privileged, I believe the US an UK refer to it as a "special relationship".

Back on topic, I do feel that western countries do spend a lot more of their disposable income on useless trinkets and enjoy using credit.

My friends and family in the US, UK and elsewhere all seem to always have the need to upgrade their iPhones, laptops, cars etc.

I'm still using the same phone I purchased 3 years ago lol

 

[etylo]

In fact, the most resolute anti China countries in Europe are Lithuania and Estonia, and the countries that are seriously anti China are Britain, Sweden, France, the Netherlands and the Czech Republic. Other countries have room for cooperation.

European Union as a continental org such as EU commission and parliament have always been pretty much anti-china to a large extent, it is a lapdog of US no doubt, they coordinate their policies against china. On individial country level, few countries are little more receptive and cooperative with china such as hungary and greece. The key country German gov under Merkel used to be cooperative with china, but now things change with the new gov. France is another key country, but i think its gov is double faced, it wants to cooperate with china to establish multipolar world, yet its policies on many other fronts such as human rights and security are against china, its just hypocritical. On populace side, the media and public opinions are pretty much against china esp after Trump came to power in US.

 

[jhungary]

What happened if the drops half way and can't completed the course. Are u going to call him a degree holder? Never say some too early. My stance still stands. Just becos you are undergraduate, doesn't mean your degree is sure.

Dude, what's that have to do with College and University being the same thing in the US (Well, not but we generally both term)?

Does that apply to one and not apply to the another??

You go to College or University to study a degree, no one guarantee you would be able to graduate whether or not you study it in a college or in an university......

Again, what the hell are you going on about???

 

[Hamartia Antidote]

Have to agree with the SUVs, my cousin who lives in the states messaged me h just bought a new F150 on finance, his old truck is barely 5 years old.

Why do people in the west spend so much on financed cars is beyond me.

People are way too soft these days. They walk around with an iPhone Max, buy a new car ever 5 years, have an expensive gym membership, have premium internet/cable movie subscriptions, and complain they are struggling.

Remember @Gomig-21 about that PDF member who said millennials are poor and never got that hand-me-down free money that previous generations got from their parents. sheesh!

I grew up in an area where when you walked down the street EVERY car had a dent or bashed in side from an accident (before no-fault insurance). Nobody was paying to have it fixed. My parents once had a station wagon with a hole in the floor where you could see the street. My parents bought their cars used at government auctions.

Yeah, people these days really are struggling compared to yesteryear.

 

[RescueRanger]

People are way too soft these days. They walk around with an iPhone Max, buy a new car ever 5 years, have an expensive gym membership, have premium internet/cable movie subscriptions, and complain they are struggling.

Remember @Gomig-21 about that PDF member who said millennials are poor and never got that hand-me-down free money that previous generations got from their parents. sheesh!

I grew up in an area where when you walked down the street EVERY car had a dent or bashed in side from an accident (before no-fault insurance). Nobody was paying to have it fixed. My parent's once had a station wagon with a hole in the floor where you could see the street. My parents bought their cars used at government auctions.

Hyper consumerism is at fault here. Do you remember the old infomercials they would add into Robocob and later the mock "would you like to know more" in Starship troopers?

Who ever thought of that and poked fun at it was prophetic

 

[Mista]

80 pct of this “wealth” lies in private property. Anonymous apartments. A very risky bet.
Once the bubble is burst you are a big trouble.

Not just the concentration risk, but also the liquidity. Someone with $1mil liquid financial assets will have a more comfortable life than someone with $1mil stuck in his residential property because he can't spend the money. And what apartment can you get in China with USD26K?

 

[Viet]

Not just the concentration risk, but also the liquidity. Someone with $1mil liquid financial assets will have a more comfortable life than someone with $1mil stuck in his residential property because he can't spend the money. And what apartment can you get in China with USD26K?

Not much. $26k is worth few square meters. The rest is mortgage or debt. In Munich you get 2 or 3 sqm, probably Shanghai and Beijing the same in top location.

 

[sutton999]

Interesting, the key is median, while west Europe is far richer, east Europe is on par or poorer than China.
If calculates average wealth, Europe still is ahead of China on paper, but things are generally more affordable in China.

Property price is high in mega Chinese cities, but rental is not high (1-2% return).

 

[ziaulislam]

I never thought European can be so poor.

I thought at least European in general is several times higher than Chinese, at least 2-5x.


But seeing how cheap the price is in China, I think in general Chinese life is more comfortable than European.

Eastern Europe makes the skew in numbers

 

[tower9]

Dude, this is not in the 70s when you see those suburban housewives driving a bigass 4x4 and pick up their kids and groceries, a lot of shop offer delivery these days, if not, you have Amazon and Uber delivery, and those shop are not like 100 mile drive from your home.

College in America is around 7000 per semester, more if you are overseas, and then local student get financial aid and loan and scholarship. There are even college offering deferred payment plan now. you can go to college even if you are poor and you cannot afford it.

And finally "Struggling" is always a relative term, I struggle to pay my $5500 a month mortgage now and have to dip into my Family Business earning, even tho my household income is around $115,000 a year. that's because that's my wife salary and I used to earn around $80,000 a year when I was working with the NSW Police, I don't work for them anymore, and we had not changed our lifestyle. We are paying $400 for phones and internet, $100 subscriptions. she is paying around $5000 a month on her clothes, shoes, perfume and what not and $2000 for her car and I have a few licenses and my firearms I need to pay around @10,000 a year to maintain.

Different people have different expense, and you start to "Struggle" when your circumstance change.

Good luck with your credit card debt dude. Yikes.

Interesting, the key is median, while west Europe is far richer, east Europe is on par or poorer than China.
If calculates average wealth, Europe still is ahead of China on paper, but things are generally more affordable in China.

Property price is high in mega Chinese cities, but rental is not high (1-2% return).

Numbers are also skewed for China because there is a massive gap between the older generations and the younger, well educated youth who are basically living in developed world conditions.

Almost all young people I meet from Western Europe are just getting by while young people from China have money to invest or start businesses. There is no way China will stay poorer than western Europe, it’s inconceivable.