Category: Money tips Release Date: 2006-03-03
"Can not afford to buy their own things," have a threefold meaning, one can not afford to buy the things that are generally recognized by all good things are expensive scarce resources; two is when you feel that can not afford the time Most people also feel that can not afford, and only thinking of your investment is different from the general public, one step ahead in order to enter "a few money-making" of the queue; three purse or even the need to balance input, it may be abundant returns.
In recent years more and more people start with a dream of getting rich, do dream of getting rich because of emerging around the people who made a fortune. In fact, take a look at the Gini coefficient know, China's Gini coefficient increased to 0.47 in Asia after the Philippines, and exceed all European countries. In the reform and opening up in 1981, China's Gini coefficient is only 0.29.
The larger the Gini coefficient values, indicating the distribution of income the more unfair. On the one hand China's rapid economic growth, per capita GDP in 2003, after crossing 1000 U.S. dollars, and now has more than 170 billion U.S. dollars, GDP in the past 10 years the total increase of 200%; the other hand, in the interpretation of "money-game" the rapid concentration of wealth to the minority. An authority on development economics has long been said that in per capita GDP to 2,500 U.S. dollars from 800 U.S. dollars into the process, the gap between rich and poor will continue to expand until it exceeded 2,500 U.S. dollars after the gradual convergence. If the empirical formula is still valid, then the "money-game" will continue. For more money I wanted to rob to get excess returns of investors, the choice of the profit model is critical.
Walk in front of Engel curves
In 1857, the famous German statisticians Engel sets out a law: As the family and personal income, income for food expenditure ratio will gradually decrease, the law is known as Engel's law, to reflect this law The coefficient is known as Engel's Coefficient. Its formula is expressed as: The Engel coefficient (%) = total expenditure on food / household or personal consumption expenditure × 100%. According to the criteria proposed by the FAO, more than 59% of the Engel coefficient for the poverty-stricken, 50-59% for food and clothing, 40-to 50% off 30 to-40% for the wealthy, less than 30% of the richest. Therefore, China in the past 30 years, the Engel curve should be a continuous downward curve, according to current popular theory that the consumer to upgrade. If you can not make changes before the Engel curve, then the investment to obtain excess returns would be very difficult. For example, the early 80s of last century, but also in the planned economy era, people's income levels are similar to the old state-owned enterprises workers, their income is often higher than the University, young teachers, Engel's coefficient is generally above 50%. This time to obtain more revenue than the others, often to their own human capital as the capital invested to get rich through two channels: one to give up the iron rice bowl, do the self-employed; Second, study abroad under the pretext of working. But in that time, I really want to give up work, from the planned economy system, required great courage. For instance, in the early 90s when the stock options permit each 30 yuan, it was counted if it took 3,000 yuan to buy the 100, will ultimately sell the stock subscribed, will benefit 1 million. But when the rate of return on investment is unclear circumstances, even to spend 300 yuan to buy 10, but also an amount equivalent to one month's wages in developed regions, the risk of investment (to be affecting the problem of feeding the month).
From China's investment opportunities in different historical periods can be seen, with the decline in the Engel coefficient, people from the initial selling their labor to the industrial investment, from stock trading to capital acquisitions, the wealth of society to those who dare to risk concentration (table). In addition, in the last century until the mid 90s, the main way to obtain excess returns in human capital, goods and capital across regions or across the virtual arbitrage period, mainly because of China's market-oriented is not high. In the late 90s, China has gradually integrated into the world economy with the world economic fluctuations and the flow of hot money tends to become increasingly synchronized.
