Message from @Fane
Discord ID: 603936249429884937
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
$4 = Rent in HK
My point is that this doesn't apply to many large cities and metro areas
It’s the same scenario
There’s like 7 cities in Texas
3 really large ones
And the other four are medium
Good point you bring up, but I think overpopulation has a lot to do with it
Hong Kong is not China... well not for that website
Cost of living index in Hong Kong is 20.40% lower than in New York.
A single person monthly costs: 1,005.29$ (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
Roughly 870,000 workers earned exactly the minimum wage in 2015
For the US
Which is like what...
Not even 1%?
So most people in America are getting paid above minimum wage
Yes, but what about that <1%. The government still has to subsidize their living through welfare.