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Originally Posted by aka123
I am impressed; you have seen whole generations in UK, not to mention to be able to make more exact segmentation. How you have done that?
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It's called being "well informed". It's also very common knowledge in the UK (ask anyone from there) and is often discussed in media & government reports. The government stats are also very clear on the matter.
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It's totally irrelevant that is UK's minimum wage good wage in somewhere Asia. All it matters that is it that in UK. You can't pay salaries based solely on what those are in some other country.
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Did I ever suggest that? I am simply saying that if you set a minimum wage, don't cry when some jobs go offshore.
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That welfare state thing, not that much ago countries were shortening their debts, and some are even now. Welfare state thing is not some synonym for debt (well, maybe in your mind).
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Not in my mind... in REALITY. The problem is that more people vote for a living than actually work for a living and that is a reality that creates political support for parties which give more free handouts. That tends to increase the welfare state. Some metrics you might examine more closely:
(1) Which countries have the largest welfare states?
Answer: All the most indebted ones
(2) Which countries have the largest Debt/GDP ratios?
Answer: Many of them have the largest welfare states
(3) Which countries have the largest amounts of total debt?
Answer: Many of them have the largest welfare states
(4) Which countries have the largest deficits?
Answer: Many of them have the largest welfare states
You can also look at which countries have the highest "Foreign Currency Reserves" and you will find that they tend to be those countries which do not have large, over bloated welfare states, high regulation or high minimum wages. I am not saying a welfare state is not desirable but if you encourage the welfare state to grow to an unsustainable level, eventually it does so at the expense of prosperity. A minimum wage helps the welfare state to grow.
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Outsourcing, especially budget wise, is decreasing, as salaries have increased highly in China, and every other Asian country is on the same road.
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The metric that matters here is "GDP per capita" and the run down is as follows just to give you an idea of income per person, per annum from years of 2012/13 for four different countries:
US: $52,527
UK: $39,422
China: $6,684
India: $1,506
GDP per capita may be increasing in Asian countries but there is still a "MASSIVE" gap which makes outsourcing viable for the foreseeable future. I've taken an average of four reliable sources (IMF, World Bank, CIA & UN) in USD. For someone who talks about China and India have you been to either country for longer than one month? Without knowing, I seriously doubt you've even been there at all...
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You have some kind of threatening going on. "Let us (business) do what we want, or you will fall."
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Sorry man, you just don't understand how an economy works and you're not the only one who has a problem facing facts. It's not a threat, its a reality - every institution of the state is funded by business & capitalism in one way or another and without them they "will fall".