Comments by "ChineseKiwi" (@ChineseKiwi) on "De-industrialization was Hong Kong’s Biggest Mistake" video.

  1. In regards to building wealth for workers, this is why you have *mandatory* pension contribution funds such as in Singapore, Australia, Netherlands and Denmark. Here in Australia, these contributions are tax free, *on top* of wages. Currently it is minimum 10%, going up 0.5% each year until 12% in 2025. This is then invested with an investment company and portfolio of your choice and there are many options. Sure, you could do it yourself, but the market is so developed this is getting less and less needed. You can contribute more as a tax rebate as well. For example for me, I have mostly international equities but have mine invested into unlisted infrastructure as that is much more stable in downturns so good luck getting that without an investment company. This industry is highly regulated and there is literally shaming by the government if the returns aren't good enough and if you don't fix it, they will force you to write to your customers stating you are low preforming and recommend you switch amongst other things.
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