China's "invisible poor" are poor people who successfully project a facade of affluence through consumer goods, clothing, etc: a research report from Shanghai's MobData found that Iphone ownership is strongly correlated with membership in the "invisible poor," with the median Iphone owner being an unmarried woman aged 18-34, with no post-secondary education and a monthly income of less than RMB3,000 (USD430).
Made-in-China brands like Huawei are correlated with affluence (Huawei owners are more likely to own their own flats, hold post-secondary qualifications, and earn RMB5,000-20,000/month).
Huawei, Oppo, Vivo and Xiaomi – the four largest smartphone vendors in China, own a combined market share of nearly 80 per cent, while Apple holds 9 per cent, according to a Counterpoint research note released late October.
Research highlights class divide between ‘poor’ Apple iPhone and ‘rich’ Huawei users in China [Li Tao/South China Morning Post]
(via Four Short Links)
Well before the collapse of Bernie Madoff's ponzi scheme -- the largest in world history! -- accounting investigator Harry Markopolos had publicly accused Madoff of running a scam; now he says that General Electric is "one recession away" from bankruptcy, with a "balance sheet in tatters."
Nelsie writes, "Twitter user tweeting about inhuman conditions at Amazon warehouses gets brigaded by tag-team of warehouse workers who are paid to tweet about working at Amazon warehouses two days of the week."
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