Insider Finance - Business - China’s economy is screwed

Would you take a pay cut to work from home? As more and more companies start forcing employees back to the office, that’s becoming a real-life question for many. 

Google, for example, has told staff they’re expected in the office three days a week, and has now said that those who don’t keep to that schedule could see their performance reviews impacted. Googlers are not happy about it. 

Amazon, Snap, and Meta are among the other companies that are requiring workers to return to the office. Workers who don’t want to return are faced with the prospect of landing one of a dwindling number of remote jobs, with no guarantee that these jobs will pay as well.

In a survey of 1,000 respondents, Schwab asked which better described wealth: having the flexibility of working where and how they wanted, or having a higher salary. 60% picked flexibility over more money. 

And in a recent post on Fishbowl, one user asked how much of a pay cut people would take to work from home or have a minimal commute. Many said they’d choose a pay cut, with some saying they’d take a 15% reduction.

How about you? I’d love to hear from you. Let me know at insidertoday@insider.com.

Finland has once again been ranked as the “world’s happiest country.” One reason could be its high levels of social trust: most Finns expect their wallet to be returned to them if they lose it. Another could be the country’s focus on work-life balance. 

However, when Insider’s Beatrice Nolan spoke to locals about the ranking, many were exasperated by it. Others were annoyed. Some even rolled their eyes or sighed. "We don't agree with it — it's just not real for us," one local said.

In fact, many Finns say the problem might be that we’re confusing happiness for something else. 

Read the full story.

Entering 2023, the relentless drumbeat of Wall Street consensus was pounding out one consistent rhythm: China is back. After years of lockdowns and suppressed output, economists and investors cheered the economic boom that was sure to follow.

But six months into the year, disappointing industrial production, slowed trade, and a private sector that’s running scared are turning Wall Street's dreams for the country into a nightmare. The old China is gone — and that’s a problem for the US. 

The end of China's economic miracle. 

Also read:

When ChatGPT took the world by storm, Amazon rushed to come up with ideas on how to leverage the chatbot. Some of those ideas were shared in an internal document that listed 67 potential use cases for ChatGPT.

The document covered everything from auto-generating software code and marketing materials to providing better customer support. "Amazon must be really scared about being late on all of this," an Amazon employee told Insider. "Everything is 'ChatGPT' and it feels incredibly rushed."

Inside Amazon’s rush to respond to ChatGPT.

Also read:

Oracle laid off hundreds of employees, rescinded job offers, and cut back open positions within its health unit, people familiar with the matter told Insider. Oracle Health includes the health-IT giant Cerner, which Oracle acquired last year for about $28 billion. 

The layoffs were due in large part to Cerner's challenged work with a massive government contract. The US Department of Veterans Affairs had hired Cerner to replace its homemade medical records. Work on the project began in 2020, and has since been plagued by fits and starts.

Read our full story here.

— Gia Mora, who traveled 18,000 miles in her Hyundai Ioniq 5 electric vehicle, on one of the things that has surprised her the most about long-distance EV road trips.

Email sent to: you

Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy

© 2023 Insider Inc. 1 Liberty Plaza, New York, NY 10006