Heavy Pockets, Power Jobs and Pink Prices 🙆‍♀️

Then how did they amass so much money?
Their spending habits and investments have a lot to do with it. 

• 94% of millionaires said they live on less than they make. And 75% reported they have never in their lives carried a credit card balance. 
• 75% of millionaires said that consistent investing over a long period of time is the main reason for their financial success. 

Moral: Most of the 10,000 millionaires studied achieved their wealth through consistent investing, avoiding credit card debt, and smart spending. No inheritances. No six-figure incomes. No lucky stock/crypto picks.

China has spent the better part of the past decade trying to hurtle ahead of the rest of the world in its green economy efforts. 

And it’s worked. 

In 2021, China employed almost half the world’s renewable energy workforce, according to a report by the International Labour Organization (ILO).

It provided 5.37 million out of the world’s 12.7 million renewable jobs last year – more than the US, the EU, South America and Africa combined.

Not just this, 

China also holds a near monopoly of 96% of the world’s solar PV production and 80% of new jobs in hydropower. ☀️

Why does this matter? 

Jobs: The renewable job market is about to hit 38 million by 2030. It’s primed to be one of the biggest employment segments in the world. So unless you want to transport to China or work as a Chinese outsourced guy in the US, it matters how many jobs the country holds. 

Investments: There are hundred and thousands of clean energy startups in China drawing in billions of dollars on investments from foreign capitalists, engineering firms and fund houses. 

US Defence official Richard Kidd called this a part of a range of war games around energy and climate. It seems if China wins the clean energy war, it will use it to acquire geopolitical gains. 🇨🇳

It is estimated that women spend about $1,300 more a year in extra costs for these products that perform the exact same task as the general men products. Ironically, women still earn only 80.5 cents for every dollar a man earns. 

What about legislation? 🧑‍⚖️

Bills repealing the pink tax or prohibiting price differentiation were passed in 2018 and 2019 in several states in the US, but to no avail. 

As of September this year, 22 states charge sales tax between 4% to 7% on period products. Of the remaining states, California was the latest to sign a bill prohibiting companies from gender-based pricing of products.

Some individual companies have taken positive steps. For example, CVS announced last month that it would reduce the cost of menstrual products by 25% in states that impose a tampon tax. 

On a global scale, few countries, including Canada, India, UK, Australia, Colombia, Ireland and Kenya, have made strides by abolishing taxes on sanitary products. While Germany recently reduce its tax rate on feminine hygiene products after deeming them to be a daily necessity.