Message from @Fane
Discord ID: 603935956659339314
Because cost of living goes down too
Apartments will charge less
Groceries will cost less
That isn't necessarily always true. Look at HK for example.
HK? Show me a link
Lemme pull up some stats
Okay
The same stats are also supported in the BBC docuseries "World's Biggest Cities"
"200,000 people in Hong Kong living in such tiny subdivided units, some so small that a person cannot even fully stretch out their legs."
Reading
Ok what does that have to do with minimum wage
That’s overpopulation
Not exactly. If the minimum wage is not adequate enough to buy housing, the price of said housing won't just go down to suit the needs of these workers.
Hong Kong has a $4.8 minimum wage btw
HK$32.50 (US$4) per hour Hong Kong's minimum wage was last changed in 1-May-2015.
Cost of living in China is 42.93% lower than in United States (aggregate data for all cities, rent is not taken into account). Rent in China is 57.28% lower than in United States
So rounding to about half
$8 = Rent in Texas
$4 = Rent in HK
It’s the same scenario
There’s like 7 cities in Texas
3 really large ones
And the other four are medium
Just wanted to ask, is the China statistics of the mainland or the mainland+HK?
Good point you bring up, but I think overpopulation has a lot to do with it
Hong Kong is not China... well not for that website
Cost of living index in Hong Kong is 20.40% lower than in New York.
A single person monthly costs: 1,005.29$ (7,856.60HK$) without rent.
In HK?
1,000 a month for living expenses isn’t that bad
That’s from the link you sent me
@Fane if there are more people paid equally the market will adjust for their purchase power
conversley minimum wage tends to drive inflation, which is another counter argument
Don’t get me wrong living on minimum wage is bad
But I also don’t think every job is paying minimum wage
This is old but