Posted on 03/03/2008 7:32:31 PM PST by SeekAndFind
Yes if they collapse we can deal with lesser threats and bring back Some industry to America. If they prosper the world will see 10,000 years of darkness.
CHEERS!
I suppose that's good for me, since I'm a CS major with business and possibly applied math minors.
Even then, the job market can be tough in China. I just hired another recent Chinese grad to work as a project manager for my company.
She speaks fluent English (better than most college students here - in fact, I have her proof read most of our quotes/documents because she catches a lot of the grammatical errors).
She has a BSEE, top 5% of her university (Shanghai Jiao Tong University), VERY bright, hard working. Currently I pay her 1800 RMB per month ($250), for a 55 hour week (M-F, 10 hours a day, Saturday 9 to 2 PM). But at least she could get a job, working for a foreign owned company...:)
What school did she get her degree from?
Wondering about the story, you see, since the young lady whose situation is chronicled there was expecting $420/month.
And you (in a "rich" Western firm) are paying a top 5% of the class, with English skills to boot, only $250 / month.
So is it the company, the English skills, the city, or the school (or major), that accounts for the discrepancy?
Cheers!
I talked to my business partner on the mainland today and he was complaining about new business taxes.
Not sure I got it right as he just mentioned it in passing.
He said there was a new law that that required them to pay lifetime wages to any employee that had 10 or more years of services. In any event his company was looking for ways to cut overhead to manage the increased costs, moving into smaller space etc.
Whatever it is it looks like some of the free ride capitalisim is slowing down and they are going to have to pay some to keep the masses happy.
who knows maybe they will have overhead equal to the US in ten years
It’s a real example of what the communists refer to as “an exploitation of the worker”. She is being paid FAR below what a dropout burger flipper makes here, works FAR longer hours, and is (mostly, I’m sure) happy to be working.
The fact that she WANTS to work for that wage matters not, because she’s being *EXPLOITED* by the EEEEEVIL capitalists!
We’re in Shanghai, Minhang district. My hire is from Jiao Tong, a good university here in Shanghai, noted for its electrical engineering program.
Most recent graduates can expect to make 1500-2000 RMB per month working for a Chinese company. Some expect to make more when working for a foreign company; the key is to have a firm stance when negotiating, you have to know what the real market rate is.
Wuhan is nowhere NEAR the price you could expect in Beijing or Shanghai (the two expensive markets for educated employees). I think she was misled, unless she has an advanced degree (Master’s or better).
Yes, you now must help fund a retirement plan for all employees with more than 10 years employment, if your business is over a certain size (revenue, not head count).
The best deal is to be a foreign company, one based in HK - you’re free of a lot of the laws and restrictions of local companies, and can run your business with a lot lower taxes in China. Income in HK is tax free if the transactions are not completed in HK, but in China; likewise, profits for contracts signed outside of China or HK and paid directly to your HK account are tax-free in China. So with good contracts, you can run your cash into HK and pay nearly zero taxes.
I lived in Shanghai from 1996-1998. How long have you been there? I haven’t been there to visit since 2004 though.
Japan, for all its faults, has both the USA and China beaten on this front.
The most elite universities in Japan (Tokyo, Kyoto, etc.; the former “Imperial” schools) are subsidized nationally and cost about $5000 per year. Rent in the big cities isn’t cheap but college students routinely stay afloat with 20-hour part-time work weeks.
When they get out of college, they can expect to make around Y3,000,000, or between $25-30k depending on how far the dollar has fallen as you read this.
Not a bad deal provided one has the brains to get into a national university and not be stuck at an expensive private school for triple the cost.
Been living 1/3rd of my life there since 2005. Been working in the Ningbo-to-Nanjing corridor since 2001.
Have a nice little house about 5 km north of the Xinzhuang metro stop of line 1 (Gudai Lu exit off the A20). In fact, I’m heading back in 13 days...
While a degree is good, it’s also important to have marketable skills to accompany it. A degree can get you noticed, but companies also look for skills relevant to the position and also experience.
Last I heard, a person can own a home but the land it is on is on a very long term lease (99 years, something like that).
Is that still true or can a homeowner fully own the land?
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