Chinese investment in Sydney

[BuildingBlocks]

Take it with a grain of salt, but interesting read...

http://www.smh.com.au/domain/-1hi4g.html

 

[BV]

BuildingBlocks
This activity is not restricted to Sydney property only.
Melbourne was on their list as well until they realised how cold it gets down there...

 

[Deltaberry]

If rich Chinese or anyone rich is coming to Australia, it's a good thing:

- they bring money;
- this money is spent on Australian goods at retail stores, supermarkets etc;
- Australian businesses therefore become more profitable, employ more people;
- there's more GST revenue and tax revenue for the Fed Govt;
- more services are built with these taxes for everyone around the country;
- overall prosperity increases for everyone

To put in simple economic terms, the "terms of trade" move in favour of Australians.

Similarly, skilled people coming here who don't have money are also good:
- they plug the skilled labour gap in industries like mining;
- they keep a lid on inflation;
- they ensure Australia's economic productivity is high and remains competitive against other mining regions like Indonesia, Brazil and Africa
- sure, they take away from some of the skilled working class Australians, but did you know competition actually helps us evolve as a society?

The problem with all these union movements is that the ones to ultimately suffer are the unionists and the working class they claim to help. The people become unskilled, uncompetitive, lazy etc.

Yesterday outside David Jones I walked past some unions protesting. These were their slogans:

"What do we want?"
"Money!!!"
"When do we want it?"
"Now!"

I picked up a pamphlet and it turns out these people were making $17.00 per hour. To put this in to perspective, a graduate from University of Sydney/University of Melbourne going in to one of the top 4 accounting firms globally probably gets paid around the same hourly rate.

Some of these working class people seriously need to be sent to a third world country to get their act together.

My "small l" Liberal contribution for the day.

Regards
Sir Robert

 

[VYBerlinaV8]

I picked up a pamphlet and it turns out these people were making $17.00 per hour. To put this in to perspective, a graduate from University of Sydney/University of Melbourne going in to one of the top 4 accounting firms globally probably gets paid around the same hourly rate.

Some of these working class people seriously need to be sent to a third world country to get their act together.

$17 per hour was a lot more (%-wise) than I was getting when I started with a big 4 accounting firm as a graduate.

 

[Aaron_C]

People don't realise that the union worker who is holding the 'stop' or 'slow' sign outside a construction site is getting paid $60 per hour...go figure

 

[Corey Batt]

Eeek, $17/hour. But then as previously said, look at their job.

 

[Tony3008]

People don't realise that the union worker who is holding the 'stop' or 'slow' sign outside a construction site is getting paid $60 per hour...go figure

For labourers on large Melbourne sites it will be around $46 a year next year, $123,000pa for a 56-hour week. http://www.theage.com.au/victoria/building-workers-back-fantastic-pay-deal-20110713-1he40.html. What surprises me is that a carpenter only gets just $7K more.

 

[Melbournian]

Take it with a grain of salt, but interesting read...

http://www.smh.com.au/domain/-1hi4g.html

just go on the weekends inspections to east melbourne, melbourne, southbank and south melbourne, they're normally lurking around to inspections every week.

it's a far different market to other areas.