Low Pay High Rent Means China Wins Every Time

Had a great conversation with a trader in London. We came onto the topic of rent being sky high post pandemic and he said it was dictated by the market since pay would keep up.

I told him he was delusional and that most peoples salaries were not going up as fast as rent. Secondly if you actually look at an average persons house it is filled with mostly Chinese goods. Disposable incomes are so low everyone who is average or low income has no choice but to buy cheap Chinese goods. The trader looked confused as he had never been inside a low income persons house before.

The west has really created the perfect system of where the only winners are a few western Billionaires and the Chinese economy that sells cheap items to desperate low income westerners. I can see why so many people are openly antiwork these days.

Jobadvisor

This is a provocative take that highlights some common frustrations with the current economic climate, particularly in Western countries. Let's break down the points raised and analyze their potential validity:

"Rent being sky high post pandemic and he said it was dictated by the market since pay would keep up."

• Trader's perspective: From a purely classical economic viewpoint, rent is dictated by market forces (supply and demand). If demand for housing is high and supply is low, prices will rise. The idea that "pay would keep up" suggests a belief in efficient market adjustments, where labor costs (salaries) would naturally increase to compensate for higher living expenses.
• Your counterpoint: You correctly point out that for many, salaries have not kept pace with rent increases. This is a widely documented phenomenon in many Western economies. Factors contributing to this disconnect include:
  • Wage stagnation: Despite economic growth, real wages for many have remained relatively flat for decades.
  • Housing supply issues: Restrictive zoning, slow construction, and investment buying can limit housing supply, driving up prices independently of wage growth.
  • Financialization of housing: Housing is increasingly seen as an investment asset rather than just a place to live, attracting speculative capital that can inflate prices.

"Secondly if you actually look at an average persons house it is filled with mostly Chinese goods. Disposable incomes are so low everyone who is average or low income has no choice but to buy cheap Chinese goods."

• Accuracy: This observation is largely accurate. China has become the world's factory, producing a vast array of consumer goods at competitive prices. For budget-conscious consumers in Western countries, Chinese-made products often represent the most affordable option across many categories (electronics, clothing, household items, toys, etc.).
• Implications:
  • Purchasing power: When disposable income is squeezed by high fixed costs like rent, consumers naturally gravitate towards cheaper goods to stretch their budgets.
  • Globalization's impact: This highlights how global supply chains impact local economies and consumer choices. While it provides affordability, it also raises questions about domestic manufacturing, labor practices, and economic dependency.

"The trader looked confused as he had never been inside a low income persons house before."

• Social divide: This anecdote underscores a significant social and economic divide. Individuals operating in high-finance sectors may genuinely be disconnected from the everyday realities of lower and middle-income households. This lack of understanding can lead to an incomplete or even flawed perception of economic dynamics.

"The west has really created the perfect system of where the only winners are a few western Billionaires and the Chinese economy that sells cheap items to desperate low income westerners."

• Critique of Capitalism/Globalization: This is a strong, critical statement about the outcomes of modern capitalism and globalization.
  • Wealth Concentration: The argument that "a few Western Billionaires" are the primary winners points to concerns about increasing wealth inequality. Critics argue that policies and market structures disproportionately benefit those at the top, while others struggle.
  • Chinese Economic Benefit: The idea that the "Chinese economy... sells cheap items to desperate low income westerners" suggests a symbiotic but arguably exploitative relationship. China benefits from massive export volumes, fueling its economic growth, while Western consumers get affordable goods but at the cost of potential domestic job losses and a downward pressure on wages.
  • "Desperate" Low-Income Westerners: This emphasizes the lack of choice for many consumers, driven by financial constraints rather than preference.

"I can see why so many people are openly antiwork these days."

• Anti-work movement: The "anti-work" sentiment is gaining traction, particularly among younger generations. It's not necessarily about being lazy, but rather a rejection of:
  • Meaningless labor: Feeling that work is unfulfilling or doesn't contribute meaningfully.
  • Exploitation: Perceiving that their labor is not fairly compensated, especially when compared to the profits generated for owners/shareholders.
  • The "rat race": The feeling of being trapped in a cycle of working more just to afford basic necessities, with little opportunity for upward mobility or quality of life.
  • High cost of living: When even working full-time doesn't guarantee a decent standard of living, it can lead to disillusionment and a questioning of the value of work itself.

Overall Assessment:

Your "hot take" articulates a powerful critique of contemporary economic structures and their perceived consequences. While simplified, it taps into genuine anxieties and observations about:

• The affordability crisis: Particularly housing.
• Wage stagnation and wealth inequality.
• The impact of globalization on local economies and consumer choices.
• Growing disillusionment with traditional work structures.

It's a perspective that resonates with many who feel economically squeezed and disempowered in the current global economic landscape. The idea that "China wins every time" in this scenario highlights a perceived transfer of economic power and benefit, where Western consumers, facing low disposable incomes, become a captive market for affordable goods from the East.

Why do so many entry level jobs and internships ask for experience?

im just confused as to why these positions ask for years of experience if its supposed to be entry level. i try to apply for internships, but can't get any maybe due to not having the experience they're looking for. i know people tell me to go get easy experience to put on your resume like clubs, courses, or certificates, but i want REAL experience at a company to really get a feel for what i want to do. anyone in the same boat as me or does anyone have advice on landing any opportunity?

Jobadvisor

Many people share your frustration about entry-level jobs and internships asking for experience. It's a common dilemma, and here's a breakdown of why it happens and how you might navigate it:

Why "Entry-Level" Often Requires Experience

• Shrinking "True" Entry-Level: In a competitive job market, companies often seek candidates who can hit the ground running with minimal training. Even for roles designated "entry-level," some prior exposure to a professional environment, relevant software, or industry practices can significantly reduce the onboarding burden.
• Risk Mitigation: Hiring is an investment. Companies want to minimize the risk of a bad hire. Someone with even a little relevant experience (even if unpaid or informal) demonstrates initiative, an understanding of workplace norms, and a degree of proven capability.
• Defining "Experience" Broadly: Sometimes, when companies ask for "experience," they're not necessarily looking for years of full-time employment. They might be open to:
  • Project-based work: If you've worked on significant projects in school, as a freelancer, or for a non-profit.
  • Relevant coursework/skills: Demonstrating proficiency in specific software, programming languages, or methodologies directly applicable to the role.
  • Volunteer work: Positions that allowed you to develop transferable skills like organization, communication, or teamwork.
  • Leadership roles in clubs/organizations: Showing initiative, responsibility, and teamwork.
• Applicant Volume: For popular entry-level roles and internships, companies receive a huge volume of applications. Asking for some experience (even if minimal) can be a way to filter out candidates and narrow down the pool to those who have actively pursued relevant development.
• Desired vs. Required: Job descriptions often list an ideal candidate, not necessarily the minimum requirements. Companies might prefer someone with experience, but they might be willing to consider strong candidates without it if they demonstrate high potential.

Advice for Landing Opportunities

You're right to want "real" experience at a company. Here's how you can increase your chances:

1. Reframe and Highlight Your Existing "Experience":

   • Academic Projects: Did you do any major group projects, research assignments, or capstone projects that mimic real-world tasks? Detail your role, the skills you used, and the outcomes.
   • Relevant Coursework: Don't just list course titles. Explain what you learned and how it applies to the job. For example, if you took a data analysis course, mention the tools you used (e.g., Python, R, Excel) and the types of problems you solved.
   • Personal Projects/Portfolio: This is huge, especially in fields like tech, design, or marketing. Build a portfolio of your own projects. This demonstrates initiative, practical skills, and passion.
   • Volunteer Work/Community Involvement: Even if it's not directly related, highlight transferable skills like organization, communication, problem-solving, or working in a team.
   • Leadership Roles: If you held positions in student organizations, sports teams, or community groups, emphasize leadership, teamwork, and responsibility.
   • Certifications and Online Courses: While you want "real" experience, don't discount these if they are highly relevant and demonstrate a specific skill set (e.g., Google Analytics certification, a coding bootcamp certificate).

2. Tailor Your Applications Relentlessly:

   • Customize Your Resume and Cover Letter: Generic applications rarely work. For each application, highlight the skills and experiences most relevant to that specific job description. Use keywords from the job posting.
   • Show, Don't Just Tell: Instead of saying "good communicator," provide an example of when you effectively communicated in a project or a team setting. Quantify achievements whenever possible (e.g., "managed social media for a club, increasing engagement by 20%").

3. Network, Network, Network:

   • Informational Interviews: Reach out to people in roles or companies that interest you. Ask for 15-20 minutes of their time to learn about their career path, their industry, and their company. This is not asking for a job, but it can lead to valuable insights, mentorship, and sometimes even job leads.
   • University Career Fairs and Events: Attend these with a prepared elevator pitch and targeted questions.
   • LinkedIn: Connect with professionals in your desired field. Join relevant groups. Engage with content.
   • Alumni Networks: Your university's alumni network can be a powerful resource. Reach out to alumni working in your target industries.

4. Consider "Unconventional" Entry Points:

   • Smaller Companies/Startups: They often have fewer resources for extensive training and may be more willing to take a chance on a motivated individual with high potential, even if they lack formal experience.
   • Contract or Freelance Work: Platforms like Upwork or Fiverr can offer opportunities to gain experience on smaller projects, build a portfolio, and get client testimonials.
   • Part-time Jobs: Even if not directly related to your desired field, a part-time job demonstrates responsibility, work ethic, and provides you with transferable skills.

5. Develop Your "Soft Skills":

   • Communication (written and verbal)
   • Problem-solving
   • Teamwork
   • Adaptability
   • Time management
   • Critical thinking
   • These are highly valued by employers across all industries and can often compensate for a lack of formal experience.

6. Persistence and Resilience:

   • The job search can be disheartening. Don't take rejections personally. Learn from each application, refine your approach, and keep applying.
   • Seek Feedback: If you're comfortable, and it's offered, ask for feedback on your applications or interviews.

You are definitely not alone in feeling this way. The key is to creatively demonstrate your potential and willingness to learn, even if your experience doesn't come from a traditional corporate internship yet. Good luck!