2/18/98... HK annual surplus $33Billion vs. anticipated $17Billion.
Welcome Yu Chen.
Your survey & link are interesting. The story is typical of rampant speculation & the crash to relaxation that occurs from time to time
in every country. In the late 1980's the US has a severe realestate correction in the Northeast & California. The king of buy property
with no money down "infomercials" went bankrupt. Many had loans bigger than the value of their homes.
The salary scale is interesting. But do you think it is meaningful?
I mean no disrespect, just proposing another view. If I take
US$500.00 to Mexico, I can buy a lot of things. If I take the same
$500 to Tokyo, I might get dinner and a cab ride. But, I am not inclined to do either one. The only time relating my money to another
country is if/when I intend on going to that country, OR I wish to
purchase imported goods. In Shanghai or Bangkok, it may be the
secretary has a standard of living as good as or better than his/her
counterparts in other countries. It depends on the price of locally
produced goods & services.
On the other hand, being a typical American, I honestly cannot
understand the reason or meaning of pegging someone's salary to
the U.S. dollar, unless they intend to buy U.S. goods or are
coming to the U.S. When the dollar was strong vs. the Yen, I bought
a Toyota because it was cheaper than a U.S. car. Last time I bought
a car, the Yen was strong and Japanese cars were more expensive,
so I bought a Pontiac. But, when I go to the vegetable stand to buy fruit & Vegetables, there is no foreign exchange rate influencing the price.
Comparisons of salaries are interesting, and enjoyable to read.
(I may try & mail some of my paperwork to Indonesia to get the
filing caught up. <g>) But their actual meaning is dependent on
the cost of essential goods & services in the same country.
Just my thoughts. I ALWAYS welcome open discussion & differing
points of view. One of the great benefits of S.I. has been the many
different viewpoints I have heard.
Best Regards,
Doug |
