Comments by "The Asian Jaywalker" (@theasianjaywalker4455) on "Wave Media"
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It's close to 12% but you need to keep in mind, just like a person, like in your life, something close to 80% of your money goes to 'food, medicine, blankets, rent, utility bills, socks' which is actually most businesses too.
90% of the corner stores income is leases, inventory etc etc. Only 3% is the actual profit that makes it worth staying in business.
Like you, me, most anyone, 7% or 12% but this is nearly all that is left over for things like improving life, maintenance, 'spending money'.
If you lost 10% of your income you've lost almost all of what we'll call 'non-necessity' money. all expendable money. some call it 'disposable' money meaning you don't need-need it to stay alive just fine. you can spend it on a Netflix subscription if you feel like it.
this is China. They are just poor enough that it takes 93% of their GDP to 'survive' to meet basic needs, to feed people and not freeze to death in winter, to have some hygiene and clean socks.
Losing 7% will be just devastating to the Chinese people. It will be a very significant step down into increased poverty.
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