Skills Wars Are the New Trade Wars

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Economics Explained

Economics Explained

Күн бұрын

Пікірлер: 2 100
@johnbee7729
@johnbee7729 Жыл бұрын
Here in Canada we have relied on a number of imported skilled workers. We bring in numerous doctors and lawyers and then turn them in to great fast food workers serving coffee, donuts and burgers.
@luisvilla799
@luisvilla799 Жыл бұрын
LoL
@TokitoTheMan
@TokitoTheMan Жыл бұрын
Lol that's true i heard an asian engineer here in the UAE who worked on big projects, decided to move to Canada and received a way lesser wage than in the UAE even her experience got denied because Canada's companies don't trust of foreign experience or something.
@boosterh1113
@boosterh1113 Жыл бұрын
@@TokitoTheMan It isn't that they don't trust foreign experience, it is that they don't trust foreign education. Outside of a few specific fields (notably medicine), Canada is a ridiculously over-educated nation. We have plenty of Canadian-educated people with Master's degrees working as waiters and cabdrivers, so if a company needs to hire an educated professional, they can almost always find the person they want, and be guaranteed that this worker's training is up to standard. If they hire a foreign-educated person, the company now has the burden of researching that person's school, to determine if the education they received is up to Canadian standards, because if it isn't, they can be held liable for any harm caused by their under-trained worker. Why take on that burden if they are just tripping over under-employed Canadians whose qualifications don't require either risk or research? So, unless your foreign degree is from a country that has educational equivalency agreements with Canada (e.g. US, UK, Germany, etc.) or is from a prestigious university that has individually arranged for its degrees to be recognized in Canada (e.g. Tsinghua or Peking University in China, the National University in Singapore, etc.), companies aren't going to bother with the hassle. Canadian companies don't really need or want foreign-educated engineers or designers (for values of "foreign-educated" explained above), what they want is mid and low skilled foreign workers who will work for cheaper than Canadians. Welders, truck drivers, HVAC technicians, roofers, security guards, that kind of thing. Show up with that sort of foreign experience, and you just need a short (4-12 weeks) conversion course to make sure you are up to snuff on the relevant Canadian laws and safety standards, and you are good to go (depending on the industry, the company might even foot the bill for it).
@gryph01
@gryph01 Жыл бұрын
​@@TokitoTheManA more accurate statement os that that the licensing requirements in Canada are different than the other country. To be licensed they would need to upgrade their skills. This happens a lot on the medical field
@masterchinese28
@masterchinese28 Жыл бұрын
Reading your post, I just imagine a line up for post-grads working at Tim Horton's.
@miguelpantaleonguerrero2858
@miguelpantaleonguerrero2858 Жыл бұрын
There is also the social aspect. Here in the Philippines, the standard of success is if you were able to work abroad. Even if you work locally as a high level employee, someone doing menial jobs abroad would be looked up to.
@Vydaindian
@Vydaindian Жыл бұрын
Yep. Same in India.
@studytime2570
@studytime2570 Жыл бұрын
Same in India..
@studytime2570
@studytime2570 Жыл бұрын
In some regions People(from relatively affluent communities) are actually selling their agriculturally rich lands to immigrate to a developed countries(even illegally). Believe it or not sometimes its about status. If one of your family members live in the US, its takes you up the social hierarchy.
@jwillsher80
@jwillsher80 Жыл бұрын
In amendment to the OP statement, as someone married to a Filipina, is the observed phenomena is related not only how many more resources OFWs have, but also how many Balikbayan's the OFW send back. Also, as someone whom has spent some time in Saudi Arabia, I never observed Filipinos doing menial labor, though there are au pairs. The OP probably has a better informed opinion than I do though. I have also observed, that there is an a bit of favorable status that is bestowed upon Filipina that marry successful foreigners. My wife's maternal grandmother seemingly looks upon my wife more favorably than before. And before someone says something, my wife was considered "successful" in the Philippines, before we wed.
@oscarcyber3308
@oscarcyber3308 Жыл бұрын
as a Filipino-Chinese I find it odd, the standard of success in our tightknit community is how big and successful your business is and how good your connections are. Which explains why Filchis continue to dominate the economy in every sector good news is that younger generation Filipinos have been more entrepreneurial compared to the last generation.
@luigifranceschi2350
@luigifranceschi2350 Жыл бұрын
I’m Italian, and I have attended Bocconi university, and I can confirm that most of the graduates look for job opportunities abroad once graduated. And many, including myself, leave. But what you failed to mention is that also after few years abroad, the most returns with much better skills and experience. Of my peers 90% went within 2 years from graduation abroad, because if you wanna have a good career you need in your CV experience in a foreign country. But within 10 years most came back and now have senior positions with high paid jobs.
@dekippiesip
@dekippiesip Жыл бұрын
Yup, that and remittances to families are major boosters of countries where people live. They actually are major contributors to those countries.
@luigifranceschi2350
@luigifranceschi2350 Жыл бұрын
@@dekippiesip remittance is not a factor, because usually who can afford to attend a master degree has behind a family that can fully support itself. But to go and work abroad, at least for few years, is a MUST for anyone that wants a career in Italy. If you do not do that before or later you’ll be overtaken by someone that went.
@dekippiesip
@dekippiesip Жыл бұрын
@@luigifranceschi2350 not in Italy perhaps, but it is a very important source of income for many poorer countries. It is even socially expected that a family member working in the US or Europe sends home some money to support his/her family.
@studytime2570
@studytime2570 Жыл бұрын
The remittance economy has its own downsides. How it is actually detrimental for some situations. Polymatter made a decent video about this issue..
@HimitsuHunter
@HimitsuHunter Жыл бұрын
As a Barbadian, I agree. My country is too small to export anything particularly noteworthy beyond luxury goods and Highly educated humans. We might not get immediate economic benefits from our population going over seas... but the fact is that it connects us to the rest of the world by having lots of people who are from our country in Major projects across every part of the English speaking world and beyond, and then even when many don't come back to live, they don't forget the place they were born and raised. Frankly just the fact that our High skilled workers find their way around the world is very useful to our overall economic model.
@Dr.Sortospino
@Dr.Sortospino Жыл бұрын
I'm Italian, when I graduated in Italy for my Master in Materials Science find a job was a pain. They offered me 700 € a month to work 45 h per week in a "forever intership". And there are tons of cases like mine. You want to work in a restaurant? Prepare to work 7 days a week, for 4 $ per hour. Because "you are young, you need to learn". Thank you, I can learn the job in Germany for 5 times that with way better benefits. Before Brexit a lot of my friends went to UK. For these reasons. They never came back to work in Italy. I'm overskilled? Industry doesn't think so. So there is a huge disconnection between labor market and school
@RobertReg1
@RobertReg1 Жыл бұрын
With all respect, those situations occured because Italy gave itself to China. From what I understand, Italy has just informed allies they are breaking away from China. Permanent internship slavery.... Sounds like China.
@xiphoid2011
@xiphoid2011 Жыл бұрын
there is a severe worker shortage in the US. Pay is also higher in the US than EU. You might want to explore that option.
@xploreourterra6096
@xploreourterra6096 Жыл бұрын
Yeah bro i agree with you degrees are becoming almost worthless and we get low paying jobs with high competition market
@Dr.Sortospino
@Dr.Sortospino Жыл бұрын
@@xiphoid2011 i'm in the US since 2014 =D got my PhD and I'm working in a semiconductor company. The visa is the issue. And USA is not helping on the visa sides for it. I'm on my 10th year in US, I spent a third of my life here, I married a texan woman, and still no Green Card... 😅
@alaeus2310
@alaeus2310 Жыл бұрын
@@xploreourterra6096 Degrees are worthless in Italy. Cross the alps in any direction and suddenly your projected salary as a young graduate triples. Combine it with corruption, paternalism and an outdated world view and you get why most of us leave.
@IQstrategy
@IQstrategy Жыл бұрын
FYI: US taxes does allow foreign taxes to be deducted from citizen tax & tax free up to about 100k.
@americameinyourmouth9964
@americameinyourmouth9964 Жыл бұрын
$122,000 and $244,000 for married couples but you still have to pay payroll taxes or self employment tax unless there’s an agreement in place. Like the US-UK Social Security agreement allows you to avoid payroll taxes and only pay UK deductions. The US has these agreements with most of Europe and Canada, Japan, Korea, Australia.
@1rjona
@1rjona Жыл бұрын
The hassle alone of dealing with the IRS while abroad makes working abroad for Americans prohibitive. Some of my bosses are American citizens
@jaysonkmendoza
@jaysonkmendoza Жыл бұрын
It's still a massive burden speaking from experience. The foreign tax credit is great if you have a simple case. However, many countries offer tax sheltered accounts and incentives and employers are increasingly offered profit sharing or investment related retirement compensation. That automatically means you need to know how to file taxes and navigate the complicated tax rule differences because the taxation status of some income is not the same in the USA as other places. This means you need to hire a VERY expensive accountant or tax company to help you. Those services are targeted at the wealthy and charge a lot of money. Someone who is living abroad working a lower or middle income job would find that burden enough to put them out of house and home. Since the USA does citizenship based taxation this will really screw over people who moved or were born abroad as children. They would have all those obligations without the means or control to do anything about it.
@kathyschreiber9947
@kathyschreiber9947 Жыл бұрын
Yes I've experienced this. US citizens get credit for all the foreign taxes they pay so usually they don't owe anything to the US. They just need to file the return. If they foreign taxes are lower, they pay the difference.
@pdmkdz
@pdmkdz Жыл бұрын
Just came back to the video to say the same lol
@kracks9852
@kracks9852 Жыл бұрын
As an Indian, it is worrisome when so many of my friends want to leave the country that nurtured them. But at the same time, what to do? This same country does not respect their skills and hardwork.
@ai10oz
@ai10oz Жыл бұрын
I.N.D.I.A or NDA, fate of India is same. Is it so?
@adityanair6406
@adityanair6406 Жыл бұрын
​​@@ai10oznot at all Modi is anyday better than Rahul Gandhi 😂
@MelonHusk7
@MelonHusk7 Жыл бұрын
Reservation system is a major factor for this.
@kracks9852
@kracks9852 Жыл бұрын
@@MelonHusk7 This is major cope. I agree that reservation is squeezing talent out of this country, but shouldn't it be government job to bring in more employment? Our manufacturing is so weak. We could be like China, but no! people keep blaming other citizens instead of holding government accountable...
@vijayvarade8077
@vijayvarade8077 Жыл бұрын
@@MelonHusk7 Reservation would not be needed if it were not such a racist country , we discriminate our own people upper class vs. lower class . People are leaving country due to lack of opportunities and not due to reservation system .
@samuraijosh1595
@samuraijosh1595 Жыл бұрын
Skill issue innit
@ChineseKiwi
@ChineseKiwi Жыл бұрын
Git gud
@michaelzumbaugh7290
@michaelzumbaugh7290 Жыл бұрын
See you next Ch’tuesday!!!!!
@wisdomhighschool9975
@wisdomhighschool9975 Жыл бұрын
Not Every Country is Effected by Brain Drain especially Bigger ones like China and India and This is a Baseless Video, the So-Called Brain Drain Has Literal ZERO effect on the Indian Economy as they Barely Account for less than a .1% of Population and India is Producing Millions of High Qualified STEM Grads, Skilled and Semi-skilled People ,The Proof is the Fastly Industrialising and Rising Economy at World Beating Growth even in 2022,23....despite Global Slowdown, Another Examples are Millions of Germans & English Migrated to The US During 1800s, But they were Top 3 Economies of the Time & were Fastly Industrialising, But People Still Moved for Better Life Until The Life in their Own Got almost Equal to that of the US
@wisdomhighschool9975
@wisdomhighschool9975 Жыл бұрын
Not Every Country is Effected by Brain Drain especially Bigger ones like China and India and This is a Baseless Video, the So-Called Brain Drain Has Literal ZERO effect on the Indian Economy as they Barely Account for less than a .1% of Population and India is Producing Millions of High Qualified STEM Grads, Skilled and Semi-skilled People ,The Proof is the Fastly Industrialising and Rising Economy at World Beating Growth even in 2022,23....despite Global Slowdown, Another Examples are Millions of Germans & English Migrated to The US During 1800s, But they were Top 3 Economies of the Time & were Fastly Industrialising, But People Still Moved for Better Life Until The Life in their Own Got almost Equal to that of the US
@Sailed_away
@Sailed_away Жыл бұрын
T'is but a scratch.
@c5ohay
@c5ohay Жыл бұрын
“New Zealanders who leave for Australia raise the IQ of both countries.” -Robert Muldoon
@MrZoomah
@MrZoomah Жыл бұрын
That is brilliant. As an Australian, it took me a little while to realised it was insulting me, not new Zealanders. Proved the quote 😊
@natbirchall1580
@natbirchall1580 Жыл бұрын
@@MrZoomah the love is hart warming the world would be perfect if there would only be Australia and New Zealand.
@IC3XR
@IC3XR Жыл бұрын
It would be funny if it wasn’t wrong Australia ranks higher on education
@cjmhall
@cjmhall Жыл бұрын
@@IC3XR You must be fun at parties.
@yt.personal.identification
@yt.personal.identification Жыл бұрын
​@@IC3XRSure, but a lot of that education is an international benefit. It isn't always Australian students.
@caimano55
@caimano55 Жыл бұрын
I am an Italian citizen that left (and i have no intention of coming back until retirement). Italy will continue to bleed talent as long as wages remain half of what they are in the rest of Europe, work culture totally lacks any whiff of meritocracy, and the state does its best to demolish private enterprises rather than support them. Love from 🇺🇸 .
@dlewis8405
@dlewis8405 Жыл бұрын
I remember during the Eurozone debt crisis that there was a lot of discussion about Italian tax evasion. One thing effective tax administration does is to redistribute money from older wealthier people to younger people who are just getting started.
@alessandro.junior.ofc__06
@alessandro.junior.ofc__06 Жыл бұрын
I'm Brazilian🇧🇷and one day I also intend to go live abroad, specifically in the USA🇺🇲 Is it difficult to get a US visa???🤔
@sean9820
@sean9820 Жыл бұрын
And we are grateful to have you!! 🇺🇸🕊️
@BigBoss-sm9xj
@BigBoss-sm9xj Жыл бұрын
Thanks for bringing your uniqueness to our country!
@Unknown-jt1jo
@Unknown-jt1jo Жыл бұрын
@@alessandro.junior.ofc__06 If you're a skilled worker, there are plenty of visas available. One option is to work for a US subsidiary in your own country (e.g., the Brazil branches of Cisco or Microsoft), and then use an L1 visa to emigrate to the US.
@8paolo96
@8paolo96 Жыл бұрын
As an Italian I can't agree more. I have bachelor's and master's degree with maximum grades and I work hand in hand or even under people with just an high school diploma. At the same salary. The feeling of underemployment is very heavy, so heavy that next month I'll leave job and start looking abroad. And that's is shared basically between all my uni-mates
@sumeettanwar1608
@sumeettanwar1608 Жыл бұрын
​@ThePowerMovestheir degree mean they should start from higher level if not what's is the point of degree they should have also started at the bottom when young than to go to colleges. Problem is most countries don't have enough high level jobs.
@8paolo96
@8paolo96 Жыл бұрын
@ThePowerMoves I agree and I'm conscious about that, it makes sense with the ones above me or more experienced, but that can't be meaningless compared to new employers as well, where there are abvious and noticeable differences in knowledge, don't you agree?
@sumeettanwar1608
@sumeettanwar1608 Жыл бұрын
@ThePowerMoves true, that's why people with degree move to get the job for their skill level and not to start at the bottom.
@8paolo96
@8paolo96 Жыл бұрын
@ThePowerMoves if that is your thought process I feel the need to ask: why someone should get a degree in the first place? why someone should get an instruction and not start to work at the minimum legal age so they will always be ahead and more experienced to someone that studied and actually knows what he's doing?
@terry9397
@terry9397 Жыл бұрын
It sounds like Italy does not have the industries that require your type of skills (advanced education). As such, educated people should look to create their own businesses where they can create value. This makes it harder in comparison to other develop nations which already have these industries and are looking to soak up these educated people. On the flip side, if you do create a business that needs educated people, you will have your pick of the best and brightest (less competition from domestic industries for these skills).
@alvaroqueirozmas
@alvaroqueirozmas Жыл бұрын
I wonder how working from home affects this. I live in Brazil but I work and get paid directly by/for a US company. At the same time I'm bringing money from US to Brazil, but on the other hand, I'm producing good/services for a US company. I wonder the effects of this on a global scale
@haridym
@haridym Жыл бұрын
I would say that's an 'everybody wins' kind of a situation, the US gets your goods/services plus taxes, Brazil gets the money you spend at the local economy and any sales/property tax, and you get higher pay than your peers.
@fabioc9142
@fabioc9142 Жыл бұрын
They pay you less compared to paying a normal US worker. Way better for them and could potentially kill the local industry with wages not feasible for local companies if more people like you follow suit.
@nigeltan7766
@nigeltan7766 Жыл бұрын
i suspect its a win for your home country if skilled labour becomes a profitable export (what they invested in your education vs. what they get in return with taxes)
@alvaroqueirozmas
@alvaroqueirozmas Жыл бұрын
I would bet that brazil's industry will be the one suffering as consequence, sure Brazil will get taxes and the workers a higher pay, but brazil industry will be affected with talent shortage and demand for higher salaries
@bushidorox
@bushidorox Жыл бұрын
It’s better for your home country. While yes, you’re providing valuable labor to a US firm rather than one from Brazil, you’re also directly injecting foreign capital into your own economy. Not to mention, you’re gaining valuable skills that can be transferred over in the event that you start working for a Brazilian company instead.
@gouthamkrishna8156
@gouthamkrishna8156 Жыл бұрын
I am from a place in India called Kerala, Kerala is better of when compared to other Indian states in terms of HDI and other social indicator. The prosperity we enjoy today is due to remittances from the gulf. The people who went to gulf used to send money back as remittances amd even today it forms the back bone of our local economy. We have a new wave of expacts to US Canada and Europe. Unlike Gulf NRIs the people who are going to Canada Europe and the USA, They are permanently getting settled there and they are sending little to no remittances.
@justkal5644
@justkal5644 Жыл бұрын
why need to send money back to india???? earn it by yourself
@fizzy14
@fizzy14 Жыл бұрын
You guys still flock to the west/the gulf for a reason - it may be better than other indian states but that is a low bar of comparison, the place is still terrible compared to the west/the gulf counteies and even china.
@hjrosas071
@hjrosas071 Жыл бұрын
Life is too expensive in the US for everyone except for the white liberals who think everything is great. There will be less and less remittances in the future.
@DOSFS
@DOSFS Жыл бұрын
Gulf-state deal for Indians is trouble almost any way you look at it... especially in a moral sense.
@gouthamkrishna8156
@gouthamkrishna8156 Жыл бұрын
​@@justkal5644 honestly in Kerala there is no opportunity. Nobody is setting up an atmosphere to make money. That's why people are going out. The same goes for most of India. That's why people migrate.
@wise5674
@wise5674 Жыл бұрын
This is the first time I'm learning so much from the comment section of a video. Nice discussions, guys
@abhinavmankotia9867
@abhinavmankotia9867 Жыл бұрын
As an senior at the highest ranked public university in India ironically majoring in Econ, I find myself at this very crossroads. Im fortunate enough to be offered a higher package than most graduates yet it's nothing in comparison to what I can make in an English speaking country. I love my country but there's no way for me to grow here.
@rajneesh8960
@rajneesh8960 Жыл бұрын
IIT or ISI? Btw I work as video editor and I can really tell that editor in India are in abundance but not very much skilled in delivering the projects, it's now becoming like engineering here. Can call themselves editor/engineer but really really lack in application of things I feel this is the problem the education system needs to look after rather than making them compete in race for IIT or higher package. For most of the skills the fundamentals are not clear in heads of students which produce mediocre results from them.
@rajneesh8960
@rajneesh8960 Жыл бұрын
Btw any way I can connect with you
@Steadyaim101
@Steadyaim101 Жыл бұрын
As a PhD from a poorer part of an English speaking country, I felt the same. I have an MBA in business and a PhD in Workplace psychology, but I was competing for low level manager jobs at a fast food restaurant. I love my home, but I had to give up on it and move to a large city on the other side of the continent to find work that was worth my time.
@hiteshadhikari
@hiteshadhikari Жыл бұрын
Have u heard of factor called cost of living?
@rahilvig8185
@rahilvig8185 Жыл бұрын
Please keep in mind the cost of living too, it’s a HUGE difference. Living in London for example, expect £1500 to go monthly on rent, and other £300 on transport £400 on food, and and £5-700 for miscellaneous and more and this is if you’re living in your own! So not necessarily the wisest decision to move abroad purely based on pay.
@rayhans7887
@rayhans7887 Жыл бұрын
I am from Bangladesh. I work as a medical scribe in a American hospital. I know I am maybe working for 1/3 pay Compared to a American scrib. But it does not matter for me as common Bangladeshi companies pays peanuts. I wonder what affect does this kind of arrangement have in the global economy.
@isaacwojo3273
@isaacwojo3273 Жыл бұрын
It hurts the United States and Bangladesh. It hurts Bangladesh because they lost a skilled worker and the usa because it drives down wages.
@recoil53
@recoil53 Жыл бұрын
@@isaacwojo3273 Yes, but a billionaire pocketed the savings. Why won't you factor in his need for new yachts into this?
@illusive-mike
@illusive-mike Жыл бұрын
Part of the issue with citizenship taxation is that a sufficiently disgruntled migrant worker whose only touchpoint with their country of origin is the extra taxes it levies on them for no benefit has no reason to hold on to their citizenship. This sort of control from a less influential country than the USA can simply direct skilled migrants to look into path-to-citizenship schemes, cutting the home country out altogether. This can be unpopular in the host countries, especially democratic ones where the newly naturalized migrants would potentially become an unpredictable voting block, but it is a tool on the table that doesn't have a clear equivalent when it comes to the movement of goods.
@Noe-gj9mw
@Noe-gj9mw Жыл бұрын
Getting a new citizenship can take a few years ago, so at least during those couple of years, the skilled worker would pay taxes back to their home country and hopefully pay back the costs they got from the tax base
@illusive-mike
@illusive-mike Жыл бұрын
@@Noe-gj9mw If the tax rate is completely bonkers, maybe. The typical expectation for a domestic skilled worker is that they'd contribute to the economy and the budget for decades. To try and pay back all of the tuition subsidies in the ~5 years it would take to ditch the chains is not a sustainable proposition. Moreover, since the scheme relies on the worker paying the same taxes as they do domestically, this means a brutal tax rate for professionals at home as well, which if anything means they have even more incentive to go to a country that isn't bleeding them dry.
@filipelimartins
@filipelimartins Жыл бұрын
and what happens if they don't pay the taxes of their former countries? the actual country will arrest them? or they'll send the police to arrest you on the new country? I find it very difficult to enforce.
@illusive-mike
@illusive-mike Жыл бұрын
@@filipelimartins It depends on what kind of ties the worker has to their home country. If they have assets there, those are in reach for confiscation. If they're sending remittances, then accepting those may make one an accesory to their "crimes". And yes, if the country is a hegemon like the USA, they can just lean on the host countries to make them play by their rules and enforce US laws. Which once again falls apart entirely when the worker has the option of just ditching the old passport weighing them down. It also naturally doesn't work if neither the worker nor the host country have ties and goodwill to the home country.
@Lusa_Iceheart
@Lusa_Iceheart Жыл бұрын
This is a very good point. Americans living overseas have an incentive to keep their US citizenship, namely because a US passport is a great way to stay physically protected. If you work, travel or just spend a lot of time in other countries where crime is... more common, keeping your US citizen status ensures that criminals will think long and hard before they take you hostage for ransom. Whereas countries like Germany and Spain will pay the ransoms (thus incentivizes the system of taking foreign hostages), the US just sends a blackhawk with a team of special forces to land on the bad guys roof in the middle of the night, kills them all and takes you back to the US. Conflict reporters in war torn countries are often told "Say that you're American" even if it's a lie, cause then the hostage takers let you go and don't risk screwing with Americans. It works with terrorists/criminals as well as dishonest police and corrupt officials looking for bribes too. Even in countries where the national police is indistinguishable from a large gang, they still rarely (if ever) run the risk of provoking the ire of the US when the state department finds out about it. The intimidation factor of a US passport is amazing.
@chacmool2581
@chacmool2581 Жыл бұрын
I am a U.S. American who's lived two decades in Indonesia where the World Bank and the country's own Labor Ministry have declared that the country lacks the skills needed for greater value added industries and therefore for greater development and improvement of the economy. I have worldwide experience, speak the national language (plus three others), have two master's degrees from globally significant universities, but the government puts significant obstacles in the way of my putting my education, experience and skills to work in the country. I also have a bit of capital but the country's bureaucracy and corruption dissuades me from putting it to work by opening a business. A lot of the problems highlighted in this vid are actually self-inflicted, the sad result of being more interested in protecting their 'dumb' national labor than exposing it to foreign talent and competition, and in pandering to anachronistic, exaggerated, populist nationalisms. The protectionism that Indonesia does need is protectionism against its ineffective, corrupt, unimaginative and wong ndeso national elites.
@real_kokon
@real_kokon Жыл бұрын
I migrated to US more than 20 years ago from Indonesia. At that time, the issue was mostly the job opportunities. To work in the field that I wanted, it was not possible to find a decent job that could support my family. I don’t think the government intentionally made it hard for me to work. They just didn’t have the capacity to do so.
@chacmool2581
@chacmool2581 Жыл бұрын
@@real_kokon Bapak orang RI?
@sumeettanwar1608
@sumeettanwar1608 Жыл бұрын
Same in india. Red tape to open a business in India is insane and at every level you have to give bribes to cut the red tape.
@ultimategamer876
@ultimategamer876 Жыл бұрын
Salamat pagi! I’m an American who lives in Jakarta for 3 years, do you think the new change in capitol could help? I love Indonesians so much but the poverty and corruption really drags it down.
@chacmool2581
@chacmool2581 Жыл бұрын
@@ultimategamer876 No. A change at Istana Merdeka will mean little for the country will not get the regime it actually needs to make the jump from lower middle income to high middle income. Plus Indonesians talk the talk but don't walk the walk. Omong kosong.
@stevenrafa1
@stevenrafa1 Жыл бұрын
If a country wants to retain its own young people(more than 23/25 years old after college/university),so it should offer better quality, higher salaries, and quality employment. That's why countries like Australia, USA, United Kingdom, and Canada retain these workers, leading to population growth (for example, the USA increased its population to 350 million, Australia increased its population to 26.3 million, and Canada increased its population to 40 million) and New Zealand(nearly 6 million). I mean English speaking countries are good at keeping their workers.On the other hand, countries in Eastern Europe, southeast asia and Latin America suffer from depopulation due to the lack of opportunities, low salaries, and low quality of life in their nations.
@benitzers8858
@benitzers8858 Жыл бұрын
yes
@MartinNew14
@MartinNew14 Жыл бұрын
true
@alessandro.junior.ofc__06
@alessandro.junior.ofc__06 Жыл бұрын
I'm Latin American and I'll have to agree with you Unfortunately...😔
@pergys6991
@pergys6991 Жыл бұрын
It doesn't help that to get higher education, those same countries offer way better quality education compared to domestic ones or at the very least, have a much greater reputation compared to home grown universities. Your more likely to think a guy from Harvard is much better than the Peking University even though both arguably are the same in principle.
@alaeus2310
@alaeus2310 Жыл бұрын
You can take the UK out of this list, considering that their quality of life is tanking rapidly. Estimates are that Poland will overtake them in the next 10 years.
@linuxdragon57
@linuxdragon57 Жыл бұрын
BTW, I live in a US state with a huge agriculture industry. Corn subsidies do not give us food security because most of that corn is being turned into ethanol in an attempt to offset gasoline-related carbon emissions. Ethanol is energy negative (i.e. it's not actually offsetting anything), so the fact that that land that would otherwise be used for food is being used for something other than food is stupid.
@elyodi2136
@elyodi2136 Жыл бұрын
I'm pretty sure we do that so food prices actually stay reasonable so farmers can actually pay their bills. since if food is really cheap farmers cant make payments and lose their farm and would mean a food shortage across the states
@casparcoaster1936
@casparcoaster1936 Жыл бұрын
Maybe nuclear exchange in Ukraine will stop that stupidity....but, maybe rather eat radioactive bread, than bread soaked in Roundup... guess stupidity's just part of being a peep
@jonomoth2581
@jonomoth2581 Жыл бұрын
⁠@@elyodi2136if that starts to happen then prices will decrease less or rise again
@msergio0293
@msergio0293 Жыл бұрын
And it's gonna get worst thanks to bill gates
@catprog
@catprog Жыл бұрын
I would agree with a dot point. Sugar ethanol is diffrent then corn ethanol
@kr4ftt
@kr4ftt Жыл бұрын
Yeap, I can attest to that, all my IT skilled friends are working home office to US companies, something like 30k a year is nothing to an exxon but it's huge for brazilian standards, because of dollar to real conversion. I myself am finishing my studies just to apply to those jobs
@carsond67
@carsond67 Жыл бұрын
What gets overlooked is that Australia ended up with such a huge overseas education sector by accident. As a result of huge cuts to university funding in the late 90s the sector was forced to start increasing overseas student numbers who pay up front, as opposed to local students that only make deferred payments to the government after they start working.
@ayat5483
@ayat5483 Жыл бұрын
I don't know the history that you described. But let me tell you, Your country(Australia) is very famous in our country (Bangladesh). It's almost like prestige if someone is studying in Australia. It is because your country has good education and research facilities. But Some of your universities are using this fame in a very bad way. They are increasing fees without any valid reasons. Also, These International students make housing crisis in your country 😅
@michaelcobbin
@michaelcobbin Жыл бұрын
I can remember that happening back in the 1990s. The other big concern was the brain drain Australia faced with highly educated professionals going overseas due to various expat schemes by other countries. 25 years later. The tide has turned for Australia’s benefit.
@Pushing_Pixels
@Pushing_Pixels Жыл бұрын
Unfortunately, outside of a few prestigious courses the standard of undergraduate education has suffered as a result. Previously, with a more limited pool of students, universities had to provide the best education they could in order to attract the best students. Once the doors were thrown open, and upfront fee-paying overseas students came to dominate the market, the incentive shifted to graduating as many students as possible, even if it meant making the courses easier and lowering assessment standards. Why? Because you don't get a refund if you fail. If a narrative formed that people were travelling to Australia, paying all that money and not getting a degree out of it at the end, it would look like a risky investment and less students would come. Our universities are now totally dependent on overseas students, so they will do whatever keeps them rolling in. Cheating is also rampant. There is an industry of local students and recent graduates getting paid to write essays for overseas students, some of whom really struggle with English. There is meant to be a minimum standard of English proficiency a student must show before they can start uni. There is a large private education system built around training non-English speakers up to that standard. Based on my experience, though, I would say that the requirements are very loosely enforced. I shared classes with several overseas students who, while probably perfectly capable in their first language, were woefully unprepared for academic writing in English. I can only assume they either got someone else to write their essays, or they tried to use translators. Academic teachers are caught in the middle. On the one hand they are trying to teach to a certain standard, but on the other they are under pressure from administrators to basically let underperforming overseas students slide through. The teachers are also fighting a losing battle trying to stop cheating by imposing sanctions on people who are caught, but then the administrators want them to give upfront payers a generous number of "warnings" before sanctions are actually imposed. The teaching academics genuinely do try to provide a quality education, and they do care about the students and will give them their time, despite also being pressed to produce enough research to maintain both their own careers and the uni's rankings. But the fact that most teaching academics are now either casuals or on short term contracts makes it very difficult for them to stand up to administrators.
@luizmonad777
@luizmonad777 Жыл бұрын
@@ayat5483 they can increase fees indefinitely because a university degree is a mere token that people are willing to get into crippling debt to get.
@luizmonad777
@luizmonad777 Жыл бұрын
@@michaelcobbin so the idea is import unskilled students, prep them up, and export them abroad. seems like a good plan.
@oscarg6924
@oscarg6924 Жыл бұрын
This goes beyond the scope of the video, but many of the countries mentioned as examples of losing skilled workers (Italy, Portugal, Spain) have a very particular situation because their skilled workers emigrate mostly to other European Union countries. So they remain within the same economic block. So whatever goods and services they create can typically be freely re-distributed around the whole Union, they affect in the same way the monetary policy of the Central European Bank, etc. Even the taxes paid are to a some extent redistributed to all the members of the European Unions. Interestingly, at a political and psychological level, this redistribution has way more opposition than if it was within the same country. Many of the wealthier countries in the Union oppose subsidizing the poorer, thinking that Italy, Spain, Portugal, Greece, etc. are free riders. It is seldomly mentioned that Italian, Spanish, Portuguese and Greek nationals do contribute to the industries in Germany, the Netherlands, etc., which then turn around and sell their services and products around the EU, and make a profit out of it. So for example Italy does not necessarily suffer as much the departure of skilled workers on an economic level, but as a loss of prestige and power.
@sarantis1995
@sarantis1995 Жыл бұрын
Τhanks for pointing this out. As a Greek I can clearly see this. Despite the current integration, still, EU is unable to balance this out.
@Doge811
@Doge811 Жыл бұрын
​@@rowlandpaes9213Italy is the second industrial power in Europe before uk and France and it mainly export machinery not pizza 🙄🙄🙄 The bigot think that we survive selling pizza and with American tourists....... 😑😑😑 We would by dying of hunger. 🤦🏻‍♂️ The next time you see a Ferrari or a Lamborghini ask yourself some questions.
@edmaximum
@edmaximum Жыл бұрын
Italy is in a bit different position, it is a net contributor to the UE budget, not a net receiver
@antdele99
@antdele99 11 ай бұрын
Your comment only demostrate your ignorance, Italy is a NET CONTRIBUTOR to the EU budget.
@okman9684
@okman9684 Жыл бұрын
How isn't this video sponsored by Skill share
@officialhideyo
@officialhideyo Жыл бұрын
Underrated comment
@TokitoTheMan
@TokitoTheMan Жыл бұрын
They don't wanna share thier skills haha. Ik I'm so funny
@ChineseKiwi
@ChineseKiwi Жыл бұрын
11:39 - As a dirty Kiwi immigrant to Australia, that animation jumping to Australia - WEEEEEEEEEEE 🤣 And my parents were skilled immigrants to New Zealand! But yes, others reading this, there are around 550,000 New Zealand citizens living in Australia, while only 60,000 Australians live in New Zealand despite Australia having over 5 times the population. Why? A key factor is wages, being you are often paid 40% or more for the same exact job while living expenses are similar overall, with Australia allowing New Zealand citizens to live and work indefinitely within Australia, similar to the Schengen Area for a lot of EU nationals. Due to these good wages, Australia has among the least brain drain out of any country, being only 0.8% of Australians live outside Australia. For me it was this and life opportunities for everything due to economies of scale, due to a bigger population, like more entertainment options and job options.
@chacmool2581
@chacmool2581 Жыл бұрын
...and despite it all, Kiwis don't let am opportunity go by to badmouth Aussies and turn up their noses at them. 🙄 Kinda like Canucks with Americans.
@good8072
@good8072 Жыл бұрын
@@chacmool2581 HAHAHAH I was literally thinking his example perfectly describes Canada and US
@kathyschreiber9947
@kathyschreiber9947 Жыл бұрын
it's gotta be rough when every able bodied man, woman and child would cut off their right arm to leave.
@allo-other
@allo-other Жыл бұрын
"work infinitely"? I think you meant "work indefinitely". Spell checkers can't always be trusted.
@cjmhall
@cjmhall Жыл бұрын
​@@kathyschreiber9947 Nobody is that desperate to leave, but there are just limited opportunities for younger people in such a small country and economy. Many move back when they want to start a family.
@belfigue
@belfigue Жыл бұрын
Lol! I was born and grew up in Spain. During my undergraduate, every year, I just had to work during the summer to pay for my education at a Spanish public university (not that I needed to anyways). However, I’ve been living and working in the US for the past 7 years (first arrived here to study a masters degree). I love Spain but its poor economic performance is hardwired and difficult to change. A different government would help, but probably not enough to change the negative trends that are in motion (in the people’s minds, in climate, in world politics, etc).
@BigBoss-sm9xj
@BigBoss-sm9xj Жыл бұрын
Glad to have you here !
@cptadb93
@cptadb93 Жыл бұрын
I think Madrid actually has a very strong economy, which is a bit of an outlier.
@96marcantoine
@96marcantoine Жыл бұрын
Being a tax accountant in the US working with French expats for a while, I can confirm that the US does have the administrative power to enforce the double taxation from the country of residence and the country of citizenship, but something that wasn't really touched on is that there have been a significant amount of Tax Treaties between a good amount of countries around the world and the US to avoid this penalty. US citizens do have to file their US taxes as well as their country of residence's, but essentially if the taxes paid in the latter surpass the US's, there won't be any additional taxes imposed by the US. Each treaty is different, but from the handful that I've worked with (France, Switzerland, Belgium, Spain, Italy, Germany, Austria, Thailand), I'd say that rule applied in all cases. Nowadays, this talk of double taxation for US citizens living abroad is really more for those living in tax havens that don't impose high taxes and therefore would have to pay the remainder to the US by the US's tax standards. Meaning that this doesn't apply for a majority of European countries.
@BigBoss-sm9xj
@BigBoss-sm9xj Жыл бұрын
so the US taxation is more fair then it seems
@nekopop8159
@nekopop8159 Жыл бұрын
@@BigBoss-sm9xjYeah, poor families/individuals making money on the ‘poor’ scale gets to not pay taxes at all. But it’s natural to complain about having to pay taxes for those making lots of income.
@kukuc96
@kukuc96 7 ай бұрын
And until countries start cancelling double taxation treaties, I don't think citizen taxation schemes will make a real monetary difference. It is however a huge bureaucratic hassle, as indicated by your job existing as it does.
@flydrop8822
@flydrop8822 Жыл бұрын
The idea that a country could continue taxing you after you leave it or outright banning how many people leave the country seems like a dystopian nightmare. I hope I can get out of Bruhzil before things like this become normalized.
@marcob1729
@marcob1729 Жыл бұрын
The USA is really making it difficult right now. I know multiple people who got masters or PhDs here in highly skilled positions such as aerospace engineering, and some of them have given up on the exasperating visa situation. They’re all from Western aligned countries as well. It’s baffling
@sean9820
@sean9820 Жыл бұрын
I agree! If you study here, gain skills you should stay and contribute to the economy! Makes no sense to send them away. A rising tide lifts all boats.
@fatboyRAY24
@fatboyRAY24 Жыл бұрын
Yeah I don’t get it either. Seems a bit malign.
@Unknown-jt1jo
@Unknown-jt1jo Жыл бұрын
@@fatboyRAY24 Why is it malign? The US is, by far, the most popular destination for skilled emigres. If the US allowed all skilled immigrants to come in, they would swamp out local labor and drive wages way down.
@marcob1729
@marcob1729 Жыл бұрын
@@nightmark2120I work in the aerospace industry. Just because you’d think something should be one way, it doesn’t mean that it is
@baconfly11
@baconfly11 Жыл бұрын
The national security laws in the USA will not allow foreigners with aerospace experience or degrees to work there. These companies are often working with the government which require lots of prerequisites that Americans have, being born natives.
@FirstLast-vr7es
@FirstLast-vr7es Жыл бұрын
It's definitely cheaper to manufacture goods in countries that don't have pesky environmental and worker rights regulations. We enact those policies thinking we're so great for doing so, and then send all the jobs to countries that don't have such things. I guess what we really want is to not "see" people and the environment being torn down. If we don't see it, it isn't really happening.
@mathyeuxsommet3119
@mathyeuxsommet3119 Жыл бұрын
Well It's the only way for poorer countries to have industries and growth wealth so we definitely shouldn't restrict the relocation of industries there.
@vladutzuli
@vladutzuli Жыл бұрын
It's not that we don't "see" it, it's that it literally stops happening in the places where such policies are enacted. London is no longer blackened with soot from factories, for example. And such policies can only be enacted once the level of economic development is high enough to be able to afford them. Why would you keep polluting the rivers and pumping smog into the air and all that, when you no longer really have to? Other places take these undesirable jobs in the short term and ruin their environment and health to do them, but in the long term with advancements and automation those poorer places will stop doing that too. It's a gradual process.
@ThoughtsInVideo
@ThoughtsInVideo Жыл бұрын
Most if not all worker rights regulations alienate people from the workforce, these people are not benefiting from any of it.
@FirstLast-vr7es
@FirstLast-vr7es Жыл бұрын
@@vladutzuli I'm not implying that we should eliminate such regulations. Just that we should (at least somewhat) protect the domestic workforce from industries that would happily relocate elsewhere and then export their goods back to their original country. Moving the polluters/wage slavers elsewhere doesn't solve anything. It just makes it someone else's problem. It's no secret that the people that really benefit from outsourcing are the executives and shareholders. Their profits have been WAAAYYYY up since the start of it. Year-on-year gains.
@AnkitSharma-ow2rx
@AnkitSharma-ow2rx Жыл бұрын
@@FirstLast-vr7es but "someone else" is happy to have that "problem", Asian development is largely based on West shifting manufacturing to Asia. It's win-win for all of us...
@goncaloaraujo6644
@goncaloaraujo6644 Жыл бұрын
You guys don’t understand how much of a problem this is in Portugal. 80% of us, graduates with engineering degrees are seriously considering leaving the country. And this is a conservative number. This country is doomed. We had mass emigration in the past but most of them weren’t skilled labor. Now if you have a degree you will have to emigrate. I’m a computer and software engineer, we are the highest payed labor in Portugal. Under 3 years of experience equals to 1100 €/month and a 1 bedroom apartment is 1100€ for an apartment without insulation, no elevators, in shitty locations. Average age live alone is 35 y.o . No future.
@MoDa87
@MoDa87 Жыл бұрын
The question is, why are there no companies that offer jobs for you? What is the government doing wrong?
@AmirSatt
@AmirSatt Жыл бұрын
to be honest in globalized economy it is normal thing. There is higher demand for engineers in developed countries, so obviously high skilled labour will move there
@Robertking1996
@Robertking1996 Жыл бұрын
Insane, software engineer in the US makes $6000 a month on the low end
@opedroefeio
@opedroefeio Жыл бұрын
Came looking for the fellow portuguese's comment, I'm not surprised it was the third top comment.
@casualsuede
@casualsuede Жыл бұрын
PROBABLY doesn't help that richer people are coming to Portugal, driving up real estate prices.
@souravjaiswal-jr4bj
@souravjaiswal-jr4bj Жыл бұрын
All the recent developments in AI (LLMs, GPT, AI art) came from a single paper in 2017, whose lead author was an Indian immigrant to USA. Paper name 'Attention is all you need'. That talent would be wasted in capital deficit India.
@mathyeuxsommet3119
@mathyeuxsommet3119 Жыл бұрын
Indian just have to be better.
@wisdomhighschool9975
@wisdomhighschool9975 Жыл бұрын
India's Is Today a "Global Economic Bright Spot" as Reported by Chief Economists at The World Bank,IMF,S&P Global, JP Morgan, Goldman Sachs etc as It is still the World's Fastest Growing Major Economy
@wisdomhighschool9975
@wisdomhighschool9975 Жыл бұрын
Not Every Country is Effected by Brain Drain especially Bigger ones like China and India and This is a Baseless Video, the So-Called Brain Drain Has Literal ZERO effect on the Indian Economy as they Barely Account for less than a .1% of Population and India is Producing Millions of High Qualified STEM Grads, Skilled and Semi-skilled People ,The Proof is the Fastly Industrialising and Rising Economy at World Beating Growth even in 2022,23....despite Global Slowdown, Another Examples are Millions of Germans & English Migrated to The US During 1800s, But they were Top 3 Economies of the Time & were Fastly Industrialising, But People Still Moved for Better Life Until The Life in their Own Got almost Equal to that of the US
@souravjaiswal-jr4bj
@souravjaiswal-jr4bj Жыл бұрын
@wisdomhighschool9975 Most of the capital flows are directed towards infrastructure, manufacturing or improving agriculture, not high tech R&D. If you want to start an AI company in US or EU you can secure $1b with ease, try to get just $10m in India for in house AI product development. The nearest it can come is service outsourcing for comparatively low tech development.
@wisdomhighschool9975
@wisdomhighschool9975 Жыл бұрын
@@souravjaiswal-jr4bjIndian Tech Hub Bangalore Alone Has More Unicorns at (40 Unicorn)Start-ups Than the Entire EU Combined Barely 20,(Source:Bloomberg) The Number of STARTUPS in India EXPLODED from just 400 in 2014 to a Massive 90,000+ in Early 2023, With Unicorns Booming from just 5 in 2014 to 115+ in 2023, And This is a Result of Massive Digitalization and Booming INNOVATION in India thanks to Govt Policies and HUGE Venture Capital worth $ 330 Billion Dollars have Flown into These Startups and Unicorns From Japan,The US, Singapore ,The EU and Even China etc And New Startups are a Result of New Technologies Being Developed in India
@macattack5863
@macattack5863 Жыл бұрын
Not allowing people to leave doesn't suddenly give them a job that uses their skills.
@opedroefeio
@opedroefeio Жыл бұрын
good luck controlling that, you can just pack your things and claim you're going on a holiday, unless you go north korea-style and shoot people trying to cross the borders on the way out.
@stupiddude6824
@stupiddude6824 Жыл бұрын
no, but it creates market pressures that will create those jobs. If you have thousands of highly skilled engineers in your country who are working at Mcdonalds' because there are no engineering jobs, they will be motivated to work in engineering for low pay, this makes the country attractive to investors who want engineering done at low costs. Thus in time it "should" create those jobs... BTW I am in no way arguing that preventing people from leaving is a good policy :D Even for an evil regime, it's generally bad news if unhappy people can't leave... it means they build up and start getting ideas. The GDR fell that way. They allowed no one to leave for the West, and in the end, it meant that there were hundreds of thousands of really unhappy, highly skilled and educated people in the country, and those people created the pressure that brought the country down.
@effexon
@effexon Жыл бұрын
@@stupiddude6824 they said in US labor shortage.... dunno where all they go.
@mohamadshafia866
@mohamadshafia866 Жыл бұрын
Thank you all for your amazing videos, which I quit enjoy. However, I find bizarre that such quality videos are not supported with resources. I really would like to see your resources to first check, and second to read more about certain topics. Substantiating your numbers with resources in my opinion will take these videos to the next level of professionalism. Thanks again for the valuable videos!
@sheezy2526
@sheezy2526 Жыл бұрын
If u are from a developing country and moved to an "advanced" economy, most will not tolerate paying taxes in 2 countries. Many will give up the citizenship of their birth country if that is the case and it will be a net loss for the developing country.
@mycookingadventure
@mycookingadventure 11 ай бұрын
thank you for this point.
@Bigdog5400
@Bigdog5400 Жыл бұрын
When it comes to citizenship based taxation, I believe Eritrea does it as well. Additionally, US citizens don’t have to pay taxes on the first ~$119,500 if my memory is correct, you just have to file
@tacobell1365
@tacobell1365 Жыл бұрын
It depends on how much you spend on necessities. If everything you spend is on living then you pay a 0% or near 0% tax, so for a family probably 0%. If you are single making that much probably some amount.
@timothydevries383
@timothydevries383 Жыл бұрын
There is no US double income tax with friendly countries. You just need to file a mountain of paperwork. It's called foreign tax credits.
@rafaelcosta3238
@rafaelcosta3238 Жыл бұрын
I doubt most banks outside of Eritrea care about Eritrean taxes, or if their Eritrean clients pay taxes. But when opening bank accounts, or brokerage accounts in the UK I have read many times that if the person was a US citizen they were not allowed to open it. Possibly the banks do not want the hassle of dealing with the IRS
@stevenluo9516
@stevenluo9516 Жыл бұрын
​@@rafaelcosta3238 One day, when Eritrea can manage to make highly-paid foreign mayors and other city officials go complete bankless because Eritrea does not like that its country passed a law concerning the city that the foreign mayor and other city officials is then trying to enforce. You know that the United States is a weird country with weird levels of foreign reach (or overreach if you ask some people in some cases).
@Merhawie
@Merhawie Жыл бұрын
@@rafaelcosta3238Eritreans abroad do pay taxes. It amounts to 2% of their net income.
@ingframin
@ingframin Жыл бұрын
As an Italian who was basically forced to migrate to get out of poverty, I can confidently say that Italy is on its way to be a third world country.
@leonelgaldinomonteiro4783
@leonelgaldinomonteiro4783 Жыл бұрын
Sad. Cheers from Brazil
@Knnnkncht
@Knnnkncht Жыл бұрын
Where did you migrate to?
@Tobi-ln9xr
@Tobi-ln9xr Жыл бұрын
Based on what? Because your statement is pretty much bs.
@Phantasma999
@Phantasma999 Жыл бұрын
Maybe Italy will get better after italians leave
@Alcatrazz231
@Alcatrazz231 Жыл бұрын
Oooh I was waiting for a video on the Italian economy! I'm very excited to hear what EE has to say about my country's huge problems and trajectory
@rundown132
@rundown132 Жыл бұрын
On a high level,, what's wrong with Italy?
@Alcatrazz231
@Alcatrazz231 Жыл бұрын
@@rundown132 I guess, to just give you a taste of the scale of the problems that there are, I could tell you that skilled workers such as STEM and IT graduates make as much ( if not less sometimes) than unskilled workers. A nurse makes less than a plumber, an engineer make less than an electrician.
@invven2750
@invven2750 Жыл бұрын
​​@@rundown132you could say a thousand things, but they're just derivations, circumstances, symptomatic expressions of only 3 problems: The way the state set ups institutions protect too much suboptimal businesses, creating a legion of zombies. The way the state set ups institutions makes starting a business too expensive. The way state set ups institutions makes hiring someone too expensive. Everything different an Italian says can be traced back to a specific formulation of the 3
@nicknickbon22
@nicknickbon22 Жыл бұрын
There’s actually an old video, but it’s not good in my opinion, it wastes a lot time taking about the fashion industry, so it basically becomes an “economics of fashion industry”kinda video.
@runescapestats534
@runescapestats534 Жыл бұрын
I definitely see how Italy is losing its skilled workers. My wife (daughter of Italian immigrants) works as a nurse here in the US and makes nearly double what her cousin (Italian nurse) earns
@antdele99
@antdele99 11 ай бұрын
Only double? At PPA the ones who are working in Italy earns much more
@FranzBieberkopf
@FranzBieberkopf 9 ай бұрын
Nurses in the USA have to pay massive insurance premiums. Taking that into account, the increase in take-home pay isn't so startlingly high
@Lando-kx6so
@Lando-kx6so Жыл бұрын
Around 80% of my country's (Jamaica) highly skilled/educated workforce live in the UK, USA, & Canada
@krislegends
@krislegends Жыл бұрын
Jamaica has the second highest rate of brain drain, with only Samoa being higher. Such an awful country filled with awful people.
@WeiFang-v6n
@WeiFang-v6n Жыл бұрын
They should stay
@masterchinese28
@masterchinese28 Жыл бұрын
We appreciate their contributions of talent, taxes and money spent locally.
@cyancat8633
@cyancat8633 Жыл бұрын
​@@ArchieDDDDc'mon man you didn't have to do me like(and yes am Jamaican) 😢,😭
@tropicalchimps9689
@tropicalchimps9689 Жыл бұрын
India is currently facing huge outflow of skilled workers but I'm not sure how much it would affect the Indian economy due to the overall huge population
@davout5775
@davout5775 Жыл бұрын
India will grow regardless. Currently they are at such a low point that growth is like making noobie gains in the gym. The problem starts after that. If the outflow continue the growth would start to slow down significantly. If it stops it would continue to grow for a while.
@sinsunjai
@sinsunjai Жыл бұрын
@@davout5775I beg to differ. With improving quality of education India actually has surplus of such workers.
@davout5775
@davout5775 Жыл бұрын
@@sinsunjai Surplus of what workers
@sinsunjai
@sinsunjai Жыл бұрын
@@davout5775 surplus of workers proficient in AI, Machine Learning, Data Science etc.
@nikhilhembrom8952
@nikhilhembrom8952 Жыл бұрын
​@@sinsunjaisurplus of workers don't do anything if we don't provide them jobs
@itzbebop
@itzbebop Жыл бұрын
EE is Australias greatest export
@abhitiwari5346
@abhitiwari5346 Жыл бұрын
'EE' stands for? (Educational export?)
@deepaksanaka
@deepaksanaka Жыл бұрын
@@abhitiwari5346economics explained
@Seethus
@Seethus Жыл бұрын
​@@abhitiwari5346the channel you are watching right now
@andrewzebic6201
@andrewzebic6201 Жыл бұрын
I'm an expat in Prague, and it's interesting seeing a lot of Italians and Spaniards coming here. They say there's better work and more work here respectively, but the Italians in particular are happy to move out. That's from my limited experience
@DivineFrag
@DivineFrag Жыл бұрын
I'm shocked people are moving from a T1 to a T2 country. I suspect it has something to do with MNEs establishing offices in T2 countries with hopes of getting cheaper labor to do back-office roles.
@andrewzebic6201
@andrewzebic6201 Жыл бұрын
@@DivineFrag not really a T2 country here anymore. In terms of PPP Czechs are earning the same as the Japanese
@gpsoftsk1
@gpsoftsk1 Жыл бұрын
Interesting, I would expect that in Italy you can make more than in Prague. But probably that's just in case you find a job. I guess it's still better to make 1000-1500 euros in Prague than make nothing in Italy. It's quite funny because this is happening in Bratislava as well. Some people took jobs with net pay of 1000 euros (plus food stamps), spending 400 euros for a studio and they were happy. It's madness that they are coming from "West" to "East", 10-20 years ago the opposite was true. Interesting times.
@eulyer3722
@eulyer3722 Жыл бұрын
"immigrant"
@csvvv
@csvvv Жыл бұрын
I've lived all this in my life. I have studied hard to get to the best universities, but Brasil isn't a place for meritocracy and security. I've moved around a few times, landing in Italy now, but working elsewhere. Surprisingly to me, recently I have discovered that many friends of mine are in a similar situation. If home countries don't give it's citizens good conditions of life, they won't stay. Nobody will stay for the love of their great leader, they need to be able to have a good house, pay bills and live the life.
@rajatgupta9713
@rajatgupta9713 Жыл бұрын
Higher the corruption in a country, more people will leave it given the opportunity. Its as simple as that.
@varun2250
@varun2250 Жыл бұрын
India has such brain drain because of Socialist economy that plagued for the past 55+ years where merit and skills means zilch in Public Sector Units which were the dominant favoured institutions for so long. As long as meritocracy is not guaranteed with rewards and career opportunities and is not ingrained in the culture of Society, there's no hope and scope of the "Bright/hardworking" fellas to stay in such a rigged system. Thankfully things started changing from 2000's and it's a continuous correction course now. At least Air India got to its founding owners from whom it was illegally Nationalized by a Commie-Socialiat nut-pot of those unfortunate times.
@rajatgupta9713
@rajatgupta9713 Жыл бұрын
@@varun2250 Give one report that proves India is suffering from brain drain. This over intellectualy, historically soaked arguments are of no use. Live in the present and talk facts that are relevant to today.
@Mcsepps_Lamtbalps
@Mcsepps_Lamtbalps Жыл бұрын
​@@varun2250India now have a Right wing conservative Party things still not improving
@F_ckberk98
@F_ckberk98 Жыл бұрын
@@Mcsepps_Lamtbalps it's right wing in only some social aspects. In terms of economics, it's just as socialist as the last crooks.
@aleenaprasannan2146
@aleenaprasannan2146 Жыл бұрын
​@@varun2250That is a very distant past of India and there is not even an iota of any of the better aspect of socialism remaining in India. Infact pathetic work culture, horrendous hours, work conditions, abysmal pay and most importantly huge education loans that would take entire lifetime to pay back with Indian salaries are one big reason why a lot of skilled employees leave the country as soon as they can. Those aren't because of socialist communist policies that existed 2 decades ago. Those are reasons that exists today, look up the sky high cost of BTech (including tuition, rent and mess fees) even in our central government funded IITs and look at what the starting salaries for Indian Btech graduates are and please don't think everyone in IITs gets packages worth crores. Now that doesn't even scratch the surface, things get even more murky when you see the costs in other colleges, and juxtapose it to the retention rates of starting employees. The retention rates will tell you exactly how employees get treated as disposables, intentionally lowering their value, so they can take in fresh new cheaper blood every year. Our problem is not any economic system. Our problem is that we churn out too much of a resource that it self degraded its own value- its the same reason why farmers destroy produce to maintain price. We churn out too many tech graduates, because we let higher education become a senseless lucrative commodity factory for mass production and now that the product of it aka high skilled employees lost their value in this country, so they go wherever they can get their own worth. That's it
@SC-dr4wk
@SC-dr4wk Жыл бұрын
That image in the ending was something. I guess targeting India does give one a sense of achievement 😅 Knowledgeable video overall, thanks.
@PotatoWiz
@PotatoWiz Жыл бұрын
Truth hurts bro! We are a rich country of a lot of very very poor people.
@akinigiri
@akinigiri Жыл бұрын
I guess one solution is the Japanese solution. No one is taught to speak English in school, so no one speaks it, so no one can go anywhere 😂 It makes sense now. I was wondering why, from what I heard from my neighbours, Japanese schools rarely have conversational tests and rely only on written tests for English. They want to stop brain drain hahaha! There are apparently the lowest number of Japanese students studying abroad now compared to 50 years ago.
@offred6013
@offred6013 Жыл бұрын
Japan as a country is dying. Japanese r extremely closed and inward looking.
@jaysterling26
@jaysterling26 Жыл бұрын
That policy has been in place in the U.K. as well ( what us with archipelago nations with island mentalies?). 3:17 - see U.K. again: people ( misguided?) voted in 2016 to reduce immigration ( see above reasons they didn't emigrate) & now number higher than ever(?!) ..some might say there's something going on on ( apart from Frida)..(?).. P.S. :Now elite universities don't want native students as foreign ones pay more - how UK students going to study ? Can't speak 'foreign ', cnn't pay upfront for overseas uni- if they can easily go overseas after Brexit?
@TheMormonPower
@TheMormonPower Жыл бұрын
I live just down the road from Yale University...All you see is Asians walking around, they come to study high tech sciences, heavily subsidized by American taxpayer grants...Then go back to Asia with these tech skills and use them in their countries to build high tech companies that eventually wind up stealing American Tech and Jobs 😮
@PotatoWiz
@PotatoWiz Жыл бұрын
Japan is a first world country. So they're not exactly dying of hunger
@legolas66106
@legolas66106 Жыл бұрын
Bullshit, if those Japanese students really had the mindset and desire to work abroad this would not stop them. Following a simple English course isn't a hard thing to accomplish in this digital age. There are probably other reasons, like them just liking their own country, but I highly doubt being offered a language like English in primary education is one of them.
@jonathanberner5501
@jonathanberner5501 Жыл бұрын
I’d love a video explaining the IMF and World Bank- where they came from, where they get their money, how they impact global economics, and how they do so with examples of what they’ve done and the results. Not sure how or why, but it wasn’t until just now that I realized I have no idea what these institutions really are or how they operate.
@dannyarcher6370
@dannyarcher6370 Жыл бұрын
Read up on Bretton Woods. Also, buckle up for that rabbit hole.
@kevincronk7981
@kevincronk7981 Жыл бұрын
An Italian whose dad is a NATO soldier being stationed in the US moved to my neighborhood our senior year of high school and even tho his dad is gonna be leaving the US, he decided to stay here for collegeand afterwards because in his words, it costs a lot to live in Italy and it costs a lot to live in the US, but you earn way more in the US. He is very Italian but even he sees no reason to live in Italy rather than America, and although the US is a pretty good place to live, that's usually just chalked up to it being *an* advanced economy and therefore a good option for people from non-advanced economies. Italy is an advanced economy too but the US is still a better option without even being the best option. They're clearly doing something wrong over there when their own people just don't wanna be there.
@recoil53
@recoil53 Жыл бұрын
Yeah, it's unsaid, but leaving your home country (no counting staying within the EU) is usually an emotionally big move. Unless things are bad, most people don't want to do it.
@piergiorgioscollo7163
@piergiorgioscollo7163 Жыл бұрын
yeah he can say whatever he wants but he can't stay legally after his dad leaves. Also, college costs so much he'll give up very quickly.
@shwethang4347
@shwethang4347 Жыл бұрын
@@piergiorgioscollo7163student visas
@jmagicd9831
@jmagicd9831 Жыл бұрын
I’m surprised you didn’t mention the biggest loser in the skills wars: the actual skilled workers. Citizenship based taxation will make it harder for workers to get ahead. Some rich Americans even renounce their citizenship as a tax strategy
@tradeprosper5002
@tradeprosper5002 Жыл бұрын
Taxing expats is theft. US also taxes their offspring, even if they have never been to USA.
@robertoprimordial2633
@robertoprimordial2633 Жыл бұрын
A maior parte da população sofreu lavagem cerebral por parte do Estado. O governo é que controla tudo pra manter seus privilégios e de seus amigos poderosos corporativistas. Não fique com essa ideia de que os empresários são todos malvados. O pior é a falta de liberdade, não o preço que cada um coloca no seu trabalho e produto. Imposto é roubo
@mwam1985
@mwam1985 Жыл бұрын
The US has the Foreign Earned Income Exclusion, so as long as you meet the requirements, you are excluded from income taxes up to $120k (2023), then it's taxed at a normal rate after that. So, if you make $200k/yr, you would only pay taxes on $80k.
@rafaelcosta3238
@rafaelcosta3238 Жыл бұрын
still $80k too much
@nekopop8159
@nekopop8159 Жыл бұрын
@@rafaelcosta3238Yeah but atleast you be making $120,000 instead!! Still pretty good tho
@BruceWayne-qe7bs
@BruceWayne-qe7bs Жыл бұрын
Their is joke in India. "Padega India tho badega America"😂
@Shreya...1
@Shreya...1 Жыл бұрын
😂😂😂😂
@RobertReg1
@RobertReg1 Жыл бұрын
What does this mean?
@ReekyCheeks
@ReekyCheeks Жыл бұрын
🇺🇸 ❤ 🇮🇳
@AnkitSharma-ow2rx
@AnkitSharma-ow2rx Жыл бұрын
Rough Translation:-"Educate India to develop America"
@ReekyCheeks
@ReekyCheeks Жыл бұрын
If India 🇮🇳 studies, then America 🇺🇸 will grow
@anaestereo810
@anaestereo810 Жыл бұрын
All I can say is that I worked both in EU and USA...on the latter job competition and peer pressure really lits a fire under your chair to keep upskilling and learning, while my experience in EU was that mostly because poor labor practices and salaries, nost individuals gave up and became conformists...you pay peanuts, you get .monkeys kinda thing. Good vid.
@asimpleguy2730
@asimpleguy2730 Жыл бұрын
I don't know if that's a generalization that is correct for the whole EU, but i'm sure it's correct for italy, which i'm from. Strong unions are good for the average worker, but for an ambitious worker they are more of an impediment since they add bureaucracy when job switching (notice periods), and create an environment where most worker don't care about the quality of their job since there is close to no risk to lose your job.
@I3igI30ss
@I3igI30ss Жыл бұрын
I agree. Conformism is rife, and ambition is rather frowned upon in many EU countries
@Flotter-Flo
@Flotter-Flo Жыл бұрын
You act like ditching job security and regulation solves everything. Performance is far from the deciding factor whether you succeed in the US. Every workplace is full of petty backstabbers who get crazy vicious when they see someone outperforming them. Doing well can easily get you fired, too.
@mrcool7140
@mrcool7140 Жыл бұрын
Poor labour practices... Conformism... How about a cohesive society lol. You go and live in that neoliberal dystopia of a country. Good riddance.
@umfilhodedeustotalmenteama5522
@umfilhodedeustotalmenteama5522 Жыл бұрын
Homeless in the USA: kzbin.info/www/bejne/pGa9ZYmtedGeobM
@subodhgautam649
@subodhgautam649 Жыл бұрын
Overeducated for the level of economy in a particular country.....wonderfully captured the beautiful fact which was going inside my mind.
@aemi_sa
@aemi_sa Жыл бұрын
loving the subtle music! and great video, as always.
@alaeus2310
@alaeus2310 Жыл бұрын
Don't forget that cultural/social issues also play a big part. I left my home country due to their treatment of LGBT+ individuals. Many people move for other reasons than money, and equal opportunity is key to attract talent.
@terrycoontz
@terrycoontz Жыл бұрын
….
@RobertReg1
@RobertReg1 Жыл бұрын
Honesty with you - if you feel the need to write LGBT+ no one wants you in their country. You're a sociopath, bub. Think you need to start reading books on mental health, your demographic has a sharp history of bringing down everyone around them. Just be a human. Act like a human.
@InVinoVeratas
@InVinoVeratas Жыл бұрын
​@@terrycoontzis this your coping mechanism?
@alaeus2310
@alaeus2310 Жыл бұрын
@@terrycoontz Oh, I'm so sorry I don't want to be considered a second class citizen in my own country. Perhaps I should have stayed there and off myself? The only thing that leaves me speechless is how many people have no idea how privileged they are.
@RobertReg1
@RobertReg1 Жыл бұрын
There's a term in the business world - Go Woke, Go Broke. As an investor, I'll tell you that is true. Once the leftist culture takes over, focus, happiness and productivity are lost. Irreparable, unless leadership really wants to fight to restore a productive, happy, balanced culture. This is not about privilege - quite the opposite. Leftists have everything handed to them, from jobs to algorithm dominance to social assistance. More that happens, the more trashy things become. Give me one example otherwise. I'll give you five hundred examples of my stance. Your culture destroys minds.
@ChrisKloenne
@ChrisKloenne Жыл бұрын
I am a Senior level Electrical Engineer in the NY (USA) metro area. As such I do job interviews for potential hires. In the last few years at least 50% of the applicants have been foreign born, mostly from Asia and India. Some were graduates from US universities and some from foreign institutions. Also in the town I live in we have a significant and growing immigrant population from India. These people are buying houses, having children and settling down. I seriously doubt they are ever going back to India.
@BigBoss-sm9xj
@BigBoss-sm9xj Жыл бұрын
Yes, once a life is truly started and secured. Then I believe, there's very little reason to destroy all of that to go back. That has be the case with my parents. Hopefully I can get a job as an ME once I graduate
@rafaelcosta3238
@rafaelcosta3238 Жыл бұрын
Immigrants from third world countries do not return to their countries. They would be silly if they did.
@Mcsepps_Lamtbalps
@Mcsepps_Lamtbalps Жыл бұрын
India is also a Asian country
@luisa.acevedo3326
@luisa.acevedo3326 Жыл бұрын
​@@Mcsepps_LamtbalpsIndia is seen as a subcontinent in the US (it was like that on my geography class at least, it on its own continental plate anyway. ), pretty much it's own thing.
@zkfnd859
@zkfnd859 Жыл бұрын
Australia should : Let students come in. Run the cash-cow universities. Let only 1% of the graduates to stay back. Give the illusion of being an immigrant friendly country. Send back most of the immigrants. Bring in the next generation of students. Keep the cash-cow and local industries running.
@noraleestone2859
@noraleestone2859 Жыл бұрын
I'm enjoying, and getting much more out of, your videos now, because I decided to slow the speed to 75% of normal. In addition to being easier to follow, it makes you sound more thoughtful and considerate. 😂😂
@Wildflower_Wildlife
@Wildflower_Wildlife Жыл бұрын
Any list that considers Canada as a winner automatically loses its credibility, unless the list is for doing stupid things.
@keithwagg4112
@keithwagg4112 Жыл бұрын
Funny, Australia offers a lot of skilled visas for things like medicine but makes it very hard for students born in Australia to study medicine. There is a skill shortage of tradespeople here too, but no skilled visas for them. So plumbers and electrician make more than most people with PhDs.
@davidbrayshaw3529
@davidbrayshaw3529 Жыл бұрын
Don't start me! The fact that education has become a tradeable commodity is a travesty to the born citizens of this country. It is a travesty against the opportunity that education gives citizens and it's a travesty against the competitive edge that we might gain by having a higher skilled work force. And then there is the great con. The con that Australia, all of a sudden, needs all these "skilled" people. I don't know how old you are, but there was no shortage of skilled people in Australia, 35 years ago. In fact, there was an over supply of skilled workers. Well, something changed, didn't it. That's right, we increased the population by about 70% without factoring in any of the requirements to sustain that population. Great for the GDP! It's kept a number of governments from hosting a recession! Not so good in reality, though, hence falling productivity and per capita GDP. And now we find ourselves in an endless spiral of increasing "skilled" workers in order to feed the needs of the "skilled" workers that have emigrated to Australia in the last three decades. Skilled fruit pickers, skilled truck drivers, skilled forklift drivers, skilled storeman... It'll be nice when we get a few of those other skilled workers to fill other gaps. Doctors, mechanics, carpenters, plumbers.... You started me!
@SurmaSampo
@SurmaSampo Жыл бұрын
"makes it very hard for students born in Australia to study medicine" Bold claim, got anything to back it up?
@keithwagg4112
@keithwagg4112 Жыл бұрын
@@SurmaSampo Hardly a ‘bold claim’ and yes, you can’t even study medicine at Melbourne uni as an undergrad, you have to do another degree/s first, most medical schools require at ATAR of 99.5 and high score on the UMAT test and interview. The fees are over $100,000 for the degree too. Then after finishing there are years of long hours and low pay as interns and registrars.
@dilanshrimpton4492
@dilanshrimpton4492 Жыл бұрын
@@keithwagg4112 Duhh that's how you get into medicine in any country.
@tharunkumarvk99
@tharunkumarvk99 Жыл бұрын
@@dilanshrimpton4492 Absolutely Right..!
@Jonas_M_M
@Jonas_M_M Жыл бұрын
I am worried about how much this could hurt the global economy, but it is hard to ignore the attacks on the liberal world order by authoritarian states from a geopolitical standpoint.
@andreaskroknes4407
@andreaskroknes4407 Жыл бұрын
Well summarized. This century`s great conundrum.
@ecoideazventures6417
@ecoideazventures6417 Жыл бұрын
Dont worry too much. ask yourself - do skilled people want to immigrate to Russia, DPRK, Myanmar, Cuba?
@cyxcyx
@cyxcyx Жыл бұрын
the liberal world order is not always right, there are many who prefer a more conservative one
@Randomguy-wd5lw
@Randomguy-wd5lw Жыл бұрын
Its actually more of a problem for the authoritarian world than the liberal world. Authoritarian countries don't attract foreign skilled labor that much.
@rafaelcosta3238
@rafaelcosta3238 Жыл бұрын
@@Randomguy-wd5lw Gulf countries do not agree with you 👍
@nesseihtgnay9419
@nesseihtgnay9419 Жыл бұрын
What Peter Zeihan said is true too, he's a geopolitical strategist, he said north America will come out of up in the next decades, giving the falling population of the rest of the world, china is the worst, than Japan, South Korea and Germany. Peter Zeihan also talked about the skill workers and geology of their lands too.
@LackofFaithify
@LackofFaithify Жыл бұрын
Zeihan is a nationalist suck up who so far has scored a 0 on his predictions. You can go look up almost 15 years worth of the idiots pandering to the Right when he worked as the Republican Wunderkind at Stratfor.
@jkennedy299
@jkennedy299 11 ай бұрын
Sorry i found a big issue when you said that taxes usually impact rich households more This is extremely untrue While richer households pay more tax on a raw dollar value, they pay much less tax as a percentage of personal wealth and therefore impact poor households much more intensely.
@GregOughton
@GregOughton Жыл бұрын
A policy our province used to have was a tax incentive for workers staying in province after graduation. You record all your tuition cost while in school and once you start working you could get 60% back in straight up income tax rebates. They also heavily subsidized tuition for local residents. My engineering program only cost about $5k / year and I saved a total of $10k in taxes (this rebate was cancelled by the conservative government shortly after I graduated)
@sourabhmate1411
@sourabhmate1411 Жыл бұрын
India gets $100 Billion annually as foreign remittances from skilled workers working abroad. Further, it creates opportunity for others locally.
@Nick0wnsz
@Nick0wnsz Жыл бұрын
The worth of those skills producing that money is worth trillions if it was used in India. It’s a waste.
@Contractor48
@Contractor48 Жыл бұрын
@@Nick0wnsz Not really, India has a system like the US affirmative action which keeps out most of the talent out of the best college. If those people were not given a chance in the foreign land, there is a high chance that they wouldn't get it inside their own country. So, it is a net gain.
@vladutzuli
@vladutzuli Жыл бұрын
@@Nick0wnsz India has such a gigantic labour force that it won't really miss those people. The supply of talent is virtually infinite, and in the grand scheme of things it's better for those people to go where they can maximise earnings and send the money home, than stay and compete with 150 trillion other indians for the same job.
@Newbmann
@Newbmann Жыл бұрын
​@@Contractor48ironic how there affirmative action also comes from anglo's as the british raj set up there caste version of affirmative action.
@Boby-on8qp
@Boby-on8qp Жыл бұрын
But if those high skill individual work in India then it much much better for India And I means high skill individual Engineer,Doctor scientist Not construction worker who work in gulf like slave
@rodrigodomingues5201
@rodrigodomingues5201 Жыл бұрын
Poor immigrants = immigrants Rich immigrants = expats
@boosterh1113
@boosterh1113 Жыл бұрын
No. Check out the Gulf Arab states. Most of their expats are dirt poor Pakistanis and Indians, and are treated like virtual slaves. heck, even places like Canada and the US have Temporary Foreign Worker programs that bring in cheap labour in to service certain industries, with the understanding that these expats will go back home with their money after a certain time.
@scottpearsons4796
@scottpearsons4796 Жыл бұрын
That was an awsome presentation with many facts to consider when thinking world demographics and skilled visas being a commodity
@MrBizaaro
@MrBizaaro Жыл бұрын
Thanks for showing the map of India and Brazil, we didn't know how it looked.
@loganteacher5269
@loganteacher5269 Жыл бұрын
Perception bias is also a very large issue. Many people perceive working in another country is better than it often is and overall topline pay being the number one cited reason - this is very myopic considering taxes, social services, cost of living, etc. If you also took the artificial dominance of the dollar and euro into consideration, you realize that this greatly affects brain drain dilemma.
@thedamnedatheist
@thedamnedatheist Жыл бұрын
You didn't mention remittances, which is an important factor in skilled migration from developing countries.
@JohnDoe-yu3em
@JohnDoe-yu3em Жыл бұрын
Could a country not require payment for uni until the degree is completed (or the student leaves school), then subsidize companies who hire domestic graduates? It seems this would still allow for the country to benefit either way
@virginiachang10
@virginiachang10 Жыл бұрын
Do you know when Chinese media reports west news, it often comes with the original English version to support its unbiased reporting.
@tanveersingh5423
@tanveersingh5423 Жыл бұрын
As an Indian, I agree that malnourished kid is exactly how we all look. Better gdp might not represent exact quality of life but colonial mindset correctly represents how we all look in 2023.
@MarioVesco
@MarioVesco 9 ай бұрын
Great video and spot on condierations about Italy. However, there's one big misunderstanding here: skilled and educated workers do not leave Italy for "better" opportunities but for opportunities period. It's not like you're a software engineer and leave a software engineer job in Italy where you make a net income of 2,000 euro per month to move to Netherlands to get a software engineer job where you make 3,000 euro per month, so you do it for a higher salary, i.e. better opportunities. It's more like you're a software engineer and leave minial pizza delivery job in Italy where you make a net income of 600 euro per month to move to any place where u can at least have a dignified life doing the job you were trained for.
@sailorssea
@sailorssea Жыл бұрын
Something i wish you would explain is targeted education subsidies. I would of love to have seen this in the video of Taiwan. My understanding of Taiwan chip dominance was helped by it targeted skilled workers. Not sure if italy has an education system but if not it could help.
@alfredbarrera9617
@alfredbarrera9617 Жыл бұрын
The solution for developing countries is very simple. Stop funding education with taxes. In that way they won't waste money on people going abroad and on 80% of useless subjects that we attend at school. And also those countries would become more attractive due to lower taxes. I recommend reading the book "The case against education" it will open your eyes on this matter.
@homewall744
@homewall744 Жыл бұрын
Governments "generate more revenue" is a laughable euphemism for governments forcefully extorting more of your labor and wealth.
@HH-le1vi
@HH-le1vi Жыл бұрын
If you pay taxes to the government that's the government generating revenue
@TheMessiersAndromeda
@TheMessiersAndromeda Жыл бұрын
Oh god another mindless libertarian ape that doesn't understand how civilised society works
@LackofFaithify
@LackofFaithify Жыл бұрын
TSMC is laughing about you all the way to the bank.
@Birch37
@Birch37 Жыл бұрын
You spelt 'Labour' correctly. Well done 👏 ✔️ 👍
@joanneburford6364
@joanneburford6364 10 ай бұрын
He is Australian that's why.
@Birch37
@Birch37 10 ай бұрын
​@joanneburford6364 yes that's correct. Well done 😅😂
@porpentosa
@porpentosa Жыл бұрын
At 18:40, you are (slightly) wrong: there is another country that taxes according to citizenship. It is Eritrea. Thank you for your great videos!
@zetaforever4953
@zetaforever4953 Жыл бұрын
How come you don't talk about remittances? I'm from India and first generation immigrants typically send huge amounts of money back to their families, sometimes more than they would've made at home. The families then pay tax on those remittances, either as direct or indirect taxation. This trend fades with subsequent generations that are obviously less attached to the country of origin, but then India also didn't pay for their primary or secondary education. Plus immigrants who are doing well financially in a richer country also often finance charitable initiatives in their home countries, further sending money into the country. Sure, the loss of skilled labor isn't the best thing, but it's not as black and white from a strictly economic standpoint.
@chromaticswing9199
@chromaticswing9199 Жыл бұрын
EE already talked about this in a previous video where he discusses the pros and cons of countries receiving remittances. They’re not completely bad but they aren’t completely good either.
@zetaforever4953
@zetaforever4953 Жыл бұрын
@@chromaticswing9199 1) in this particular context, it doesn't make any sense to talk about the economic impact of skilled migration without talking about remittances. Whether they're good or bad, they're one of the major economic impacts of skilled migration. 2) remittances can be very bad if a country becomes completely dependent on them and fails to use that money to develop local industries. But that is true of anything. Even being completely dependent on a single industry can be harmful for your country. Diversification is key for economic stability. But within a well-diversified economy, remittance income doesn't have very significant downsides.
@jmlw4
@jmlw4 Жыл бұрын
18:35 actually the U.S. is not the only country with a citizen based tax system. A lesser known east african nation called Eritrea also practices this. But since its ruled by a ruthless dictator, most of its citizens living abroad will happily lose any citizen rights than give money to the government they fled from. Its known as the North Korea of Africa for a reason
@arthas640
@arthas640 Жыл бұрын
I think more countries dont do that simply because most of the countries losing skilled workers are either EU members where the loss is mitigated because they mainly just move to fellow EU members or because their poor countries where people are often sending money back home and trying to tax them would only lead to more people leaving and then sending nothing back, not to mention the fact remittances are often taxed anyways and the purchases made with them usually are as well.
@lindseylinck
@lindseylinck Жыл бұрын
There should be "Skill Migration" on the National Leaderboard, just for the meme. Being serious, the possibility to flee from failing countries that have no perspective of ever improving (like Brazil) to decent/developed places should not be impeded by any tax or "fairness" argument, because its both a matter of individual freedom and countries that are losing skilled workers deserve to lose them as consequence of why they are losing those workers in first place. Removing/restricting this fundamental liberty is treating people like possessions (or even slaves) of the countries in which they were born.
@danpress7745
@danpress7745 Жыл бұрын
Attended two US college induction ceremonies recently, one for MDs one for Tech/Engineers, both programs had over 20 different native languages represented.
@Gashshiningstar
@Gashshiningstar Жыл бұрын
I mean that's going to happen if you deprive countries of their resources and make them believe that they cannot survive or function without a parental relationship (European) that they are learned to believe is necessary for success. The global majority is handicapped into failed psychosocial behaviors and characteristics of a functional inferior.
@tomhavenith2330
@tomhavenith2330 Жыл бұрын
An Italian collegue of mine, when I still worked in the private sector in Brussels told me the offers he'd gotten from Italian companies. They weren't just lower, they were plain insulting for somebody with a decent education. I mean... there is a difference between -15% to -25% of the average European wage level, especially if the cost of living is adapted. And there were those garbage offers... they offered a three digit salary! That's completely insane. The rent was higher. The Italian private sector has a devaluated skilled labour to such a degree, that it's hurting their economy. You can't tell me the productivity of a Italian Engineer is 20% of a German/Belgian one... It's just cheapgoating to an extreme level and it hurts their economy.
@Thinkingnamesishard
@Thinkingnamesishard Жыл бұрын
'Governments wouldn't allow skilled worker visas if roles could be filled by citizens'. Except they do.
@profwaynewsmith
@profwaynewsmith Жыл бұрын
It keeps salaries down.
@AKumar-co7oe
@AKumar-co7oe Жыл бұрын
they prefer to keep the skilled people around
@negochristian1
@negochristian1 Жыл бұрын
Good. Compete! Only losers run from competition (and in this case, hide under the skirts of the beaurocrats in government lol )
@antonburdin9756
@antonburdin9756 Жыл бұрын
@@profwaynewsmith, and cost of living up, at the same time.
@Unknown-jt1jo
@Unknown-jt1jo Жыл бұрын
The whole point of the video is that countries permit skilled immigration because it *benefits* them. It may hurt some specific people in that nation, but generally it's a net benefit to the economy. Governments understand this, which is why they permit this.
@bharath2508
@bharath2508 Жыл бұрын
Companies in India doesn't value skills and talent. Our education system is broken too.
@gokulkrishna4011
@gokulkrishna4011 Жыл бұрын
True
@gideonAschwanden
@gideonAschwanden Жыл бұрын
The comparison of goods to skilled labour falls short since countries need a minimum number of some skills to be functional. Healthcare is a good example since the doctors from Germany working in Switzerland are missed in their home market which fills the gap with Polish Doctors. A better analogy are supply chains where demand at the front leads to huge spikes at the end. The result is that some countries are producing the skilled labor not only for one but for a whole list of countries.
@svart7716
@svart7716 Жыл бұрын
Polish doctors are very skilled. So it is advantageous to have polish doctors and nurses.
@aguel9997
@aguel9997 Жыл бұрын
If you guys dont make a video about norway soon, I will need to get involved
@OukiePower
@OukiePower Жыл бұрын
By the way, you are incorrect. South Africa has implemented citizen based taxation aswell. Only working in countries that have a double tax agreement with South Africa and to a certain limit gets excluded.
@kleinesschreckgespenst319
@kleinesschreckgespenst319 Жыл бұрын
True. The DTA between Germany and SA also uses the residence principle. I think this will mostly be the case for all the other industrial nations?
@OukiePower
@OukiePower Жыл бұрын
Most of the European countries have DTAs with SA. But yes it means you can only be in SA a maximum of 30 days TOTAL per calendar year.
@EconomicsIsEpic
@EconomicsIsEpic Жыл бұрын
Well if it's economics and war you're looking for 👀
@abhitiwari5346
@abhitiwari5346 Жыл бұрын
Nah, I am good.
@kevincronk7981
@kevincronk7981 Жыл бұрын
I heard recently that there are 2 countries that tax based on citizenship, not 1, with the othercountry being Hungary. I remember I found that interesting because my mom, who's an American, lived and worked in Hungary for a while and I think only paid US income taxes
@mack0ka
@mack0ka Жыл бұрын
I dont think Hungary is like that.
@fatiharslan2121
@fatiharslan2121 Жыл бұрын
Interesting talk about Amazons ATZ33X I suggest anyone to listen to the guy talking about it in the video. Personally I didn't think they would really do that but seems like the launch just happened and there are enough slots available, could be worth huh
@lordwine5962
@lordwine5962 Жыл бұрын
Hyped for Luffy Gear 5!!!
@Oxy_O2664
@Oxy_O2664 Жыл бұрын
Drums of liberation
@bigorna4875
@bigorna4875 Жыл бұрын
This is what is really important
@officialhideyo
@officialhideyo Жыл бұрын
🥁🥁
@CornishCreamtea07
@CornishCreamtea07 Жыл бұрын
The East Blue lost a few high skilled workers to the Grand Line.
@DiscoFang
@DiscoFang Жыл бұрын
In NZ, skilled graduates and workers leaving for overseas has always been referred to as The Brain Drain.
@juscelino8078
@juscelino8078 Жыл бұрын
How do we get rid of the Homeless problem in the US???
@ajourney50
@ajourney50 Жыл бұрын
In Canada, we are finding people come, learn the skills, spend a couple of years making money, and then go back to their home country, wealthier than when they left, which is ok. The problem is we constantly have to train new people, so the quality of output isn't always there. And this is a burden on the native workers. For example, I am a registered early childhood educator. We have a group of ece's from India and South Asia, which is great, they're wonderful. But, we are finding that after they go to school and work for a couple of years, and then go home and don't always come back. In this job, we have to meet the teacher/child ratios and this has been difficult to keep up. We are always replacing people, training new people, and managing childcare at the same time. I know this is a common theme in other fields. It's exhausting. In the fall, three people are going home to visit for a month, and only one has promised to come back.
@ajourney50
@ajourney50 Жыл бұрын
@@kreight_ This is not what we are experiencing at our centre. It's usually the girls going back to get married, as per custom in their culture. They love their jobs, but family takes precedence. The turn over rate in my profession has never been good, the cold climate isn't enticing either. And, one of the girls admitted, that the money she earned, she could live off for a long time, back home.
@offred6013
@offred6013 Жыл бұрын
Its called free market economy. Laissez-faire baby. Dont whine learn to adapt.
@ayat5483
@ayat5483 Жыл бұрын
​​@@ajourney50Have you met or trained Bangladeshi girls as you have mentioned "south asia" in your first comment. I think your concern is right. These Bangladeshi girls are returning back because they are married off by their families. Probably their husbands are govt officers and earned a lot of money from corruption. So why they would struggle in a foreign country when they can enjoy better facilities in Bangladesh! I am from Bangladesh
@scottcolpitts8521
@scottcolpitts8521 Жыл бұрын
There leaving because canada is too expensive.
@anime-for-3-day97
@anime-for-3-day97 Жыл бұрын
People love to live with their family , In India most people have big families and they can’t afford to bring everyone to Canada because of high cost lifestyle so obviously they earn and go back to India to start some business and live with their families
@ecoideazventures6417
@ecoideazventures6417 Жыл бұрын
As long as the Chinese are obsessed about Italian luxury fashion goods and Indians for Italian cars, and rest of Europeans about Italian food, its economy need not worry much!
@megajatt123
@megajatt123 Жыл бұрын
Indians obsessed for italian cars? Where do u get that from
@leonelgaldinomonteiro4783
@leonelgaldinomonteiro4783 Жыл бұрын
@@megajatt123 maybe Ferrari?
@xploreourterra6096
@xploreourterra6096 Жыл бұрын
@@leonelgaldinomonteiro4783Nope most Indians buy indian cars only or sometimes hyundai, toyota etc, Italian cars are very costly
@leonelgaldinomonteiro4783
@leonelgaldinomonteiro4783 Жыл бұрын
@@xploreourterra6096 but elite buys
@salvatoreregalbuto5444
@salvatoreregalbuto5444 Жыл бұрын
@@leonelgaldinomonteiro4783Maserati’s lose 50% of its value in 18 months. Only 10,000 ferrari’s are bulit a year 😂
@j03man44
@j03man44 Жыл бұрын
Easy-ish solution. Post high school education is a grant that has to be paid off in back taxes if the student moves away within 5 years of finishing their education.
@tuckerchisholm1005
@tuckerchisholm1005 Жыл бұрын
Extremely astute and succint breakdown on so many levels, well done
@robertoprimordial2633
@robertoprimordial2633 Жыл бұрын
A maior parte da população sofreu lavagem cerebral por parte do Estado. O governo é que controla tudo pra manter seus privilégios e de seus amigos poderosos corporativistas. Não fique com essa ideia de que os empresários são todos malvados. O pior é a falta de liberdade, não o preço que cada um coloca no seu trabalho e produto. Imposto é roubo
@baathbomb2750
@baathbomb2750 Жыл бұрын
Excited for the Italy video, FYI the beeping in the background is really distracting
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