I am very lucky without many racial encounters because most of people I know are professional. Spot on analysis. Well, one is at Princeton now playing soccer, and the other is TBD. Now that we understand not all Asians are the same, I want to share my personal thoughts on race and income from a Chinese American person who came to the United States for 9th grade and never left. Let me share with you reasons why I think Asian Americans save and earn more than the median. I had racial run-ins with swim team members. It will be interesting to see how the fourth and fifth generations from asian immigrants do.
Earning and Spending, by Income Group
After sixteen years, I could easily pass as an American because I speak English without an accent, and I am well versed with the popular culture. However, if you ever examined my monye toward money you will see that I am undeniably Chinese. Chinese americans make more money are some of the principles I grew up. Being frugal is a virtue — Being frugal did not start as communist propaganda. Actually it is a concept that has been taught for thousands of years. The classic Chinese text Dao De Jing states that the three greatest treasures one can have are love, frugality, and generosity. Frugality is really a integral part of amerkcans Chinese culture.
What Is Considered Asian?
Everything says «Made in China» on it. I know China can make products for a lot cheaper than the US could make them, but if the US built a lot more factories and hired a ton of people and started making their own products instead of having China make everything, wouldn’t that SAVE money? Because that would create a lot of jobs, and then people have more money, and if people have more money then they spend more money. So while the US has to pay more for products than they would if China made them, they still get their money back in the end because citizens will be spending more money because now more people have jobs. China is a labor based economy, they have a nation of people willing to work the equivalent of less than an hour of minimum wage for a whole day, while mass producing low quality products such as cheap toys, canned foods, etc. So we Americans are left without jobs, but with lower costs for our favorite goods. It’s ok, China is becoming more progressive.
Why Is Asian Income The Highest?
Simply put, the more income a household generates, the higher the portion that can be spent on items other than the usual necessities housing, food, clothing, etcand the more that can be saved or invested for the future. The average U. In terms of money going out, the highest allocation goes to housing These contain an average of 1.
How do the inflows and outflows of the average American household compare to the lowest income chinese americans make more money Further, cash comes in from many different sources, showing that there are fewer dependable sources of income for families to rely on.
For expenditures, this group spends the most on housing These contain an average of 3. This group spends just over half of its income, with top expenses being housing Get your mind blown on a daily basis:. This infographic looks at who is giving — and who is receiving — the billions of dollars in foreign aid that flows between countries each year.
Billions of dollars routinely flow between countries for a number of reasons that go beyond simply helping people in less wealthy nations. Extending foreign aid can be a tool to help strengthen relationships with allies, to help bolster a military presence in a key area, or even to project a positive image at home and abroad.
Of course, aid also helps less wealthy nations do all kinds of things, from constructing new infrastructure to recovering from humanitarian crises or natural disasters. In simple terms, foreign aid is the voluntary transfer of resources from one country to another country—typically capital.
Here are the six types of foreign aid:. As ofhere are the countries that contributed the most foreign aid as a portion of their Gross National Income GNI. In a resolution, the UN challenged countries to spend 0. Using this measure, all top 10 countries are located in Europe. That said, in absolute terms, countries like Japan and the United States are still major contributors of aid around the world.
Below are a few real world examples of foreign aid flow, and more context around why money is flowing between the countries.
India is the top recipient of foreign aid, with the majority of funds coming from Japan. On the surface this may seem confusing, as Turkey is more developed than most nations receiving foreign aid—however, much of this funding stems from the migration crisis. Turkey has been bearing the brunt of caring for refugees, and the EU has contributed significant funds to the effort. InEthiopia was under a state of emergency as the African country faced a third straight year of drought, and security forces and anti-government protesters clashed in the streets.
Though the U. The United States was also the top source by far for aid flowing into other countries in the region, including Kenya, Tanzania, and South Sudan. View the high resolution version chinese americans make more money this infographic by clicking. Within the financial realm, there is perhaps no better example of this than the introduction of exchange-traded funds ETFsa new financial technology that emerged out of the index investing phenomenon of the early s.
Since the establishment of the first U. As you can see, equities are by far the largest galaxy in the ETF universe, making up Today, there are over 8, ETFs globally, covering nearly every asset class imaginable. Here are some of the lesser-known and more peculiar corners in the ETF universe:. Thematic ETFs: Gaining popularity in recent years, thematic ETFs are built around long-term trends such as climate change or rapid urbanization.
By having more tangible focus points, these funds can also appeal to younger generations of investors. Contrarian ETFs: In a healthy market, there can be a variety of different positions being taken by investors. Factor-based ETFs: This approach uses a rules-based system for selecting investments in the fund portfolio, based on factors typically associated with higher returns such as value, small-caps, momentum, low volatility, quality, or yield.
One example of such a strategy is global macro, which aims to analyze the macroeconomic environment, while taking corresponding long and short positions in various equity, fixed income, currency, commodities, and futures markets.
Interestingly, however, there are commodity ETFs for even more obscure metals and agricultural products, such as zinc, lean hogs, tin, or cocoa beans. Email address. Connect with us. How do you spend your hard-earned money? Interestingly, the average U. Get your mind blown on a daily basis: Thank you! Given email address is already subscribed, thank you! Please provide a valid email address. Something went wrong. Please try again later. Related Topics: expenses income group money.
Continue Reading. You may like. Inequality Mapping the Global Flow of Foreign Aid This infographic looks at who is giving — and who is receiving — the billions of dollars in foreign aid that flows between countries each year.
Published 5 hours ago on January 21, By Nick Routley. Mapping the Global Flow of Foreign Aid Billions of dollars routinely flow between countries for a number of reasons that go beyond simply helping people in less wealthy nations. The visualization raises a number of questions.
For example: Why does Japan send so much foreign aid to places like India and Vietnam? Why does Turkey—one of the top 20 economies in the world—receive so much foreign aid?
What Constitutes Foreign Aid? Here are the six types of foreign aid: 1. Bilateral Aid: Direct government-to-government assistance 2. Tied Aid: The receiving country accepts aid with the expectation that it is spent in the lending country 4. Voluntary Aid: A charitable donation, particularly when countries are facing a humanitarian crisis 5. Project Aid: When aid is used to finance a specific project 6. Published 11 hours ago on January 21, By Jeff Desjardins. Under the right circumstances, an innovation can scale and flourish.
Here are some of the lesser-known and more peculiar corners in the ETF universe: Thematic ETFs: Gaining popularity in recent years, thematic ETFs are built around long-term trends such as climate change or rapid urbanization.
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Why Asian Men Make the Highest Hourly Wage in the U.S.
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The first generation works their fingers to the bone making things; the next generation goes to college and innovates new ideas. And by lopsided margins, Asian Americans say the U. As you said, education is the key. What were your reasons for going to community college and what do you do now? That runs counter to your assertion. So, it is just the environment and our own inclination that teaches us how to think and act. I also agree in the belief chinese americans make more money a strong family structure adds to the ability to be smart and save. I do wonder if it is that simple. My father was born and raised in Hawaii, as were his parents. From rice paddy fields to rice paddy fields in three generations. This is a huge advantage. The typical trend in wages for Hispanic subgroups is that Cubans do the best while Puerto Ricans do the worst, being severely disadvantaged even in comparison to blacks and American Indians. We end up being socially crippled, with low self-esteem, and being inept with networking. Lee said. Are there no other types of Asians besides East Indians at your firm? I represent one family with a dry cleaning chain who has achieved more wealth than I am likely to ever achieve. It is a subsidiary of The Pew Charitable Trusts.
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