Draft budget of the federal government Cabinet approves of high New debt

Status: 23.06.2021 12:18 p.m.

The federal government will also take on massive debts in the coming year. The cabinet approved the draft budget, which provides for new borrowing of almost 100 billion euros for 2022. The debt brake will be suspended again for this. The federal cabinet has approved the government draft for the federal budget for 2022. Once again, the approved budget is shaped by the consequences of the Corona crisis. According to the draft, the federal government wants to incur more new debts in the coming year than previously planned. A net borrowing of 99.7 billion euros is planned, as can be seen from a cabinet proposal. The high level of new borrowing is justified with additional spending as a result of the corona pandemic, for example for corporate aid and to stabilize social contributions.

Debts grow to 470 billion euros

In the benchmarks presented in March, the Ministry of Finance had expected a net borrowing of 81.5 billion euros for 2022. Tax revenues remain below pre-crisis levels. This would mean that the mountain of debt accumulated by the corona pandemic between 2020 and 2022 would grow to around 470 billion euros. However, there are now plans to increase spending on climate protection and health, for example. The federal government had already taken on billions in new debts in 2020 and 2021. The budget plans are, so to speak, subject to change, because the new Bundestag elected in autumn has to pass the budget. There could therefore still be significant changes.

Debt brake suspended again

According to the draft, the debt brake anchored in the Basic Law will also be suspended in the coming year against the background of the Corona crisis. It stipulates that the federal government may only take out new loans to a very small extent – a maximum of 0.35 percent of economic output. According to the draft, the federal government no longer wants to make use of the exemption from 2023. In the afternoon, Federal Finance Minister Olaf Scholz wants to present his budget plan

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Warnings from economists Pension system on the brink of collapse?

Status: 21.06.2021 10:35 a.m.

Too few contributors and high household burdens – experts repeatedly point out the problems of statutory pension insurance. Does that inevitably lead to retirement at 68 or even 70? By Andreas Braun, tagesschau.de The criticism of the German pension insurance system, which has been publicly discussed for weeks, is sharp. The entire structure of the pay-as-you-go pension has been called into question by economists in recent weeks. Many of the criticisms have been known for a long time, but above all caused a stir Paper of the scientific advisory board at the Federal Ministry of Economics , an advisory body within the federal government. Economics Minister Peter Altmaier himself presented the committee’s proposals as “not binding” on his ministry The advisory board is “independent”.

Pension and contribution guarantees aggravate the situation

With their description of the state of the German pension insurance system, the authors of the study are anything but alone among experts. You see “suddenly increasing financing problems” approaching the pension funds. These problems are mainly caused by the guarantee of the pension level introduced in 2018 at 48 percent of the average wage and the limitation of pension contributions to a maximum of 20 percent.

Together with the introduction of the “pension at 63”, this led to the deficit within the pension insurance system being further expanded. More than a quarter of the federal budget had to be diverted to the pension fund in 2019 to fill this gap. In 2040, almost half of the federal funds are threatened to be used for this.

Increasing life expectancy

The conclusion of the economists of the advisory board with its chairman, the Munich economics professor Klaus M. Schmidt, reads: The coupling of the retirement age to life expectancy is “inevitable”. So if Germans tend to live longer and receive longer pensions, the start of retirement will have to be pushed back accordingly. This would correspond to a “pension at 68” in around 20 years.

In addition, the experts are calling for pension increases no longer to be carried out consistently in the future. While existing pensions should only increase with the development of purchasing power, a guarantee of 48 percent, for example, can still be guaranteed for “access pensions”, ie employees who are going into retirement.

Criticism of “unsocial” proposals

While politicians from many parties immediately criticized the committee’s proposals as “anti-social” or unrealistic, the authors also received support from academia from other quarters. The researchers from the employer-related Institute of the German Economy (IW) also see a further extension of the working life as a sensible way to stabilize the German pension system.

IW study director Jochen Pimpertz sees this as an opportunity “to slow down the rise in premiums and at the same time to stabilize the security level”. He recommends raising the retirement age from 2031 by two months for each year of birth. In 2052, the standard retirement age would then be 70 years. The Freiburg economist Bernd Raffelhüschen also sees a dramatic need for reform in the pension system in Germany. The federal government can only choose between “plague and cholera,” he said in a recent interview. Either the contribution rates for the pension fund or the federal subsidy would have to be drastically increased. In the past few years, the federal government gave the “majority of the elderly” too generous gifts, he said.

Swedish stock pension model

Martin Werding, professor at the Ruhr University in Bochum, is calling for a radical move away from today’s pure pay-as-you-go financing. Werding has calculated that a “share pension”, in which employees invest two percent of their gross income in an equity fund, could increase pension payments by up to 30 percent for average earners who have been insured for many years. The consumer advice centers also consider such a provision component, which is based, for example, on the Swedish pension model, to be sensible. Klaus Müller, member of the board of directors of the Federal Association of Consumer Organizations, sees the share investment as an opportunity to get “more money in old age” for insured persons.

But even a fundamental reform of the pension system is unlikely to close the gap between earned income and retirement income for many contributors. The Riester pension, which was introduced around 20 years ago , however, many experts are convinced that it is hardly suitable for this. There are increasing votes for Riester subsidies to expire under a new federal government in autumn. A prominent critic of the Riester model is, for example, the economist and former “economy” Bert Rürup. He advocates pension accounts that could be managed by a foundation and should be accessible to all citizens. Here, too, the idea is that additional contributions are invested primarily in the capital market and converted into payment plans in old age that supplement the statutory pension

Accordingly, at noon on April 30, a group of 10 backpackers, with permanent residence in many provinces and cities across the country, came to register for temporary residence with the Pa Ve Su Commune Police and reported to the Border Guard Station. Pa Ve Su about the schedule to conquer the top of Pu Si Lung mountain. By this morning (May 2), there were 2 guides down the mountain reported that one person suddenly died and is currently at the location of the cave area, about 10 hours walk from the center of the commune. Right this morning, Muong Te district directed forces, including border guards, police and militiamen to cross the mountain to support the backpackers. By the end of this afternoon, a group of 5 people in the backpacking group had descended the mountain to the commune center. Initial information from the backpackers who went down the mountain first said that the cause of Mr. K’s death was likely due to the fact that the process of traveling was raining and sunny for many hours, leading to exhaustion and a cold. The stream area next to the rock cave, where it was determined that Mr. LM K had died. The commanding representative of Pa Ve Su Border Guard Station, Muong Te district, said that currently, the rescue force of more than 10 people, including 5 border guards and officers, has approached the scene and is on the way to bring the body. Mr. K and the rest of the backpackers went down the mountain. However, because it was dark, it was difficult to go, the way to the top of the mountain was mainly through the forest, so it is expected that about 11 o’clock tonight the group will be able to bring the victim down the mountain. Mr. Kieu Hai Nam, Vice Chairman of the People’s Committee of Muong Te district, Lai Chau province said that the peak of Pu Si Lung mountain is more than 3,000m above sea level, located in the border commune of Pa Ve Su. The road to the top of the mountain is very arduous, harsh in weather and takes more than 10 hours to arrive, so recently it has been very popular with adventurers from all over the country to explore. Pu Si Lung peak has not been recognized as a good tour or examination route. After the above incident, Muong Te district will direct the local authorities to organize warning signs and warn of dangers for backpackers before starting the discovery journey.

At present, my country’s mobile phone manufacturers can be described as a situation where a hundred schools of thought are contending. In this environment, Xiaomi also relies on exceptional and smooth out of the circle. Even though they started their business on mobile phones, they are not limited to mobile phones.

This can be seen from the Xiaomi store, whether it is a mobile phone or household appliances, it is all available, and even a lot of after-life supplies are not spared, which also gives Xiaomi the title of Xiaomi grocery store. Under the diversified business philosophy, Xiaomi has indeed brought a lot of returns. Now the income of Xiaomi’s grocery store has accounted for 40% of the total income.

Although Xiaomi’s cross-border capability is unquestionable, it has always been a strong dragon in some industries. Among them, it is a good example in the socket market. At present, the best sockets in our country are probably the bulls. After all, they have the number one market share in the plug-in board industry.

The market value also exceeded 136 billion yuan, becoming the first share of sockets. In the flipper industry, Ruan Liping, the founder of the Bull, has also been cultivating for 25 years. Over the past 25 years, the Bulls have always focused on the subdivision of sockets, which has also brought Ruan Liping a worth of 45 billion yuan.

Technology Entrepreneurship

Ruan Liping can be said to be a typical representative of technology entrepreneurship. He studied mechanical design in college. After graduation, he successfully entered the Hangzhou Institute of Mechanical Design, which was a very enviable job at the time.

But obviously Ruan Liping is not the kind of person who likes stability. He started his journey into the sea a few years later. After buying pig livers and planting strawberries and other small businesses, Ruan Liping also aimed at the hottest plug industry at the time.

At first, Ruan Liping still didn’t like many power strips because the quality was really bad. After dismantling, he found that the original technical content of the power strip was not too high, so he planned to do it himself. So Bull Electric was established in 1995.

Establish 750,000 sales channels

At the beginning of Ruan Liping’s career, the power strip market was full of fantasies. For many users at that time, they could only choose foreign brands if they wanted to buy good quality power strips.

The price of foreign sockets is ten times that of domestic ones. Bulls do not fight the price war, and the prices of sockets introduced are much lower than those of foreign ones. With a good reputation, the Bulls have gradually gained a foothold in the plug-in market. After the bull became famous, it also attracted a lot of imitations.

Just 6 years later, Bull’s socket converter has become the industry’s first brand. The reason why the Bulls can achieve such results, in addition to their good quality, is also very important in terms of marketing. At that time, people chose to go to hardware stores to buy such products, so the bull simply made free signs for these hardware stores, and the bull logo was hung on it, so that the bull brand has formed a familiarity in the market over time.

With the continuous development of sales channels, Bull has established more than 750,000 hardware sales channels in a comprehensive way, and has become the number one brand in people’s hearts. What everyone might not have expected is that this small power strip also has such a great power. With this small object, Ruan Liping’s revenue reached 10 billion in 19 years, and the net profit exceeded 2.2 billion. In the first nine months of 20 years, the bull’s net profit reached nearly 1.6 billion.

Almost overtaken by Xiaomi

In terms of the quality of the inserts, the Bulls are already impeccable. However, the Bulls have encountered a crisis, that is, Xiaomi’s corner overtaking behind it. In 15 years, Xiaomi also quietly and suddenly entered the socket market, and it also brought a revolutionary innovation to the socket, that is, the addition of a USB socket to the socket, which is undoubtedly a problem for the Bulls. Very serious blow.

Under the shock, the Bull also responded quickly, and immediately launched products such as timing sockets and smart sockets according to market changes, which can be said to be in line with the development of the times. In 18 years, when the Bulls went public, they were also sued by their peers. This lawsuit delayed the Bull’s listing plan, and the listing was not completed until the beginning of the 20th century. However, the bull performance after the listing is also very strong, in a short period of time, the market value has risen from 50 billion to 155.4 billion at its peak.

to sum up

There are two main reasons why the Bulls can stand out. First of all, the first is to take a fancy to the pain points of the market, differentiate the brand, and allow consumers to bind the quality to the bull, creating a unique brand effect for the bull. The second is focus. In the 25 years of development of the Bulls, it has been focusing on the socket field and has not carried out blind expansion. It is not easy to work hard in a field for so many years, and it deeply interprets the craftsmanship that it is not easy to do a good job.

On the other hand, other brands in this field are doing things in the east and doing things in the west. They meet in all fields but do not have the strength, which leads to not doing anything well in the end. Antarctic people are the most classic representatives among them, and they seem to have become a grocery store. I have to say that there is some truth to the success of the bull.

When combining the decoration with the space, bonsai not only “wears new clothes” for the house but also can bring prosperity, Ms. Phuong Anh shared. Ms. Phuong Anh said that ornamental plants placed indoors should be plants with good meaning, beautiful shape, suitable for the area of ​​the space. Many species of trees are also believed to have a sense of well-being, helping homeowners always feel comfortable and relaxed in their home. She said, visitors to her garden often choose plants such as five packages, ten thousand young people, betel nut, ivy, areca, ornamental banana, fortune, betel nut king. Some other types of trees such as Singapore eagle, gold coin, honeysuckle, emerald, rich precious, rosemary, cedar are also interested in. According to Ms. Phuong Anh, referring to the beautiful ornamental flowers that are easy to grow, there must be the oat flower, the periwinkle coconut vegetables, the Japanese cypress, the million bells, ten o’clock. These are the wrong flowers and have drooping like chandeliers, when placed in the garden or balcony will help the space become more beautiful and fancy. Orchids and roses are also popular with consumers because of their beauty and diverse forms. In addition, trees that show persistence and vitality such as cacti, tiger’s tongue are also not to be missed. Plants bring a green accent to the house. Ms. Phuong Anh said that at first she did not care about bonsai because she did not know how to enjoy it, plus the expensive price. But after hearing and sharing from the artists, plus her own research, she gradually realized the value of this plant. The varieties of bonsai are simple, a bit trivial, but through the hands of artisans will be “transformed” into unique and meaningful works of bonsai art. In particular, the shui mai, the si tree, the genus chi, and the fir are the 4 most popular trees because in addition to their beauty, they also carry feng shui meaning, bringing sand to the homeowner. For many people, the time to prune and take care of trees is also a form of relaxation after stressful working and studying hours. Besides consulting on selecting plants, Ms. Phuong Anh also said that taking care of ornamental plants is not as complicated as many people imagine. Just water regularly, keep moisture, leave the plant in a well-lit place, the tree will have good conditions to grow and become healthy.

The tool will automatically estimate the amount of electricity consumed by each electrical device each month. (Photo: evn.com.vn) Vietnam Electricity Corporation ( EVN ) developed a tool to help households estimate their monthly electricity consumption based on their electricity usage habits and household electrical equipment characteristics. Accordingly, customers can access to use this tool at the website: Customers need to enter some basic personal information: full name, customer code, city area; type of house (apartment or private house), number of people living in family … Entering the background information as above should be accurate, according to reality, to ensure the tool can estimate the most accurate power consumption. Next, also on the website, customers will provide information about the quantity and type of household electrical appliances in use, including: Basic equipment (such as electric cookers, refrigerators, lights …) , equipment that consumes a lot of electricity (such as air conditioners, clothes dryers, ovens …). Along with that, provide data on the frequency, level, and habits of using these devices. Based on customer data provided, the tool will automatically estimate the amount of electricity consumed by each electrical equipment each month. This tool also shows the device that consumes the most electricity in each household in the month, helping customers to adjust their electricity usage habits effectively and economically. The tool’s algorithms also automatically update and analyze the temperature in the locality where the customer lives to calculate. Quantity electric used There may be differences in the difference between months and seasons of the year for a household electrical appliance. “Currently, this tool is being deployed to integrate into websites and customer care applications of the Power Corporations in the corporation,” added the representative of EVN./.

It turned out that this village was called “Hevi Baza Village” and it was a very backward village in western India. This was mainly because most of the city-states and villages in India still retained farming habits, mainly through agriculture to maintain their livelihoods. But this village belongs to that kind of semi-arid area due to its bad location. Not only is there little rainfall throughout the year and lack of water sources for irrigation, but the village head is also far away from the Ganges River. In addition, the soil is dry and dependent on water sources. Gradually, the villagers in this village became more and more decadent, and gambling, alcoholism, and fighting became the norm. It was not until the arrival of Popatrao Pawar, the “village leader”, that everything changed.

This “village leader” applied for a fund with the help of the “Model Village Project” and reached a series of consensus with the local people with this fund. First of all, the villagers are forbidden to cut trees at will. Instead, they are required to grow trees and pay a certain amount of compensation. At the same time, cattle and sheep are prohibited from grazing at will. Among them, cattle grazing is the most difficult to manage, because cattle are a symbol of “gods” in India. But the “village leader” finally solved the problem properly. Although these measures cannot solve the local water source problem, they have improved soil erosion. At the same time, the “village leader” used the funds he had applied for to open some light-work factories and workshops to provide employment opportunities for local villagers and encourage everyone to build water storage facilities.

But when the water storage facilities were being built, the “village leader” discussed with the villagers and decided to make all the water storage tanks look like “planes”, so that they could be used as a “name leader” to apply to the local government for changes. Many economic “aids” have stood out among the “model villages” in one fell swoop. In India, many Indians are very concerned about “boo head”. With the help of the large and small “aircraft storage tanks” built throughout the village, it looks like an airport from a distance, with airplanes parked on the roofs of every house. This not only means that the living standards of Indians have improved, but also the “take-off” of the Indian economy. More importantly, at the time, many Indians didn’t even know what an “airplane” was. This made the “Hevi Bazaar Village” a well-known local “tyrant village”.

Many other Indian villages have come here, and the village has become a “model” among the “model villages”. It has not only been praised, but also has a lot of “preferential policies” and “aids”, which makes the current situation of the village extremely impressive. Great improvement, and the “village leader” also gained the loyal praise of the villagers, and led the villagers to completely renovate the village through the “boo head”. Now 20 years have passed, and the village has grown from a backward village with no food at the time to a model town of greenery today. Not only has the local ecology been repaired, but every family has built new houses. Those “dilapidated” airplanes on the roofs of the past were replaced with brand new “airplanes” and continued to be parked on the roof to commemorate the changes in the village over the years. .

At present, the village has not only gone out of more than 60 millionaires, the ground has been renovated, and the roadside is installed with solar street lights. The village is also vigorously developing organic agriculture, which is regarded as a standout among many cities and towns in India. With the economic development of India in recent years, many foreign tourists have also come to India. And this original “local tyrant village” and now “local tyrant town” continues to promote its own “airport”, attracting many tourists and injecting vitality into the local tourism industry. I have to say that the “brain holes” of Indians are really useful and valuable!

▲On April 6, Yeedi, a brand of Cobos, signed a strategic cooperation agreement with Pinduoduo, and Pinduoduo’s “10 billion subsidies” and “limited time spike” will be tilted towards a large range of Cobos products. (Photographed by Li Lin)

In recent years, service-oriented home robots have gradually become a new fashion. Since its establishment, Cobos has been committed to bringing advanced products and high-quality services to users and their families. As an outstanding representative of “China’s intelligent manufacturing”, Cobos has successively exported “China-made” to more than 60 countries and regions with its top R&D team and advanced intelligent manufacturing technology.

According to data from Pinduoduo, since Cobos moved in last year, its products have sold nearly 100 million yuan on the platform. Li Gang, the head of the China region of Cobos, said, “Pinduoduo’s 790 million consumers cannot be ignored, and the platform has become the largest incremental market in the small home appliance industry, and it is also the e-commerce company that we will comprehensively deploy in the future. platform.”

It is reported that Yeedi’s official flagship store, which has recently settled on the platform, quickly won the favor of users due to its extremely high cost performance and thoughtful after-sales guarantee.

The “Double 100” after-sales policy of “100-day free trial” and “100-day purchase and refund” is a unique benefit provided by Pinduoduo users. During the event, during the 100 days from the consumer’s purchase, if there is a price reduction, it will be refunded at the difference, that is, the purchase is the lowest price; and if during this period, the user feels that the product does not meet the requirements, they can apply for a refund at any time , That is, from the original 7 days for unreasonable returns and exchanges, it has been extended to 100 days. It is understood that the “Double 100” after-sales policy will continue until the end of June this year.

Among them, the K600 sweeping robot is one of the main products of the store. With the support of the “10 billion subsidy”, it will be reduced by 481 yuan for a limited time, and the coupon can be purchased at only 518 yuan. At present, nearly 63,000 users have expressed their desire to buy. . For consumers who have already purchased, “clean sweep”, “large suction” and “no excessive noise” have become their common comments on the product.

▲ “Sweeping is very clean”, “big suction” and “no excessive noise” have become consumers’ common comments on the product.

At the same time, according to the content of the product reviews, the reasons why users buy this sweeping and washing 3-in-1 “artifact” are mainly divided into two categories: one is that young people buy it to be “lazy”, start it before get off work, and complete the correction when returning from work. The cleaning of pet hair; the other is bought for home use, which can effectively reduce the burden of parents’ housework.

In order to provide consumers with a better shopping experience, Pinduoduo also launched an upgrade of the home appliance service system, and formulated genuine invoices, home delivery, 48-hour delivery, and free shipping for the service quality of “Duoduoduo Appliances” merchants. , 7 days no reason to return and installment 7 service standards. The handling of issues such as logistics, surface consistency, installation, quality, return and exchange, maintenance, personal injury, and invoices requires a “user-oriented” principle to be resolved.

The person in charge of Duoduo Electrical Appliances said, “The platform relies on its own big data advantages, through continuous insights into users’ precise needs for electrical appliances, to judge the latest consumer trends, and subsidize the goods consumers need. Genuine products are low-priced and after-sales are guaranteed. It is our unchanging commitment to users.”

The alley is only half a meter wide, deep, smoking, people have to turn on the electricity 24/24 to see the path, the entrance can only be one by one.

Alleyways are only available in Hanoi’s Old Quarter

Along the streets such as: Hang Buom, Hang Chieu, Hang Duong, Lane Brick, Lo Su … are super-small alleyways, right behind the shops with splendid light; is known as a “specialty” of Hanoi Old Quarter.

Streets located in the old town area are called “diamond streets” of Hanoi, with a value of up to billions of VND / m2, equivalent to land prices in the most expensive cities in the world. like New York, Paris or Tokyo.

In the area of ​​Hang Ngang – Hang Dao, Dinh Tien Hoang, the price of road surface is said to be from 800 million to more than 1 billion VND / m2.

Most of the households living in these alleys are families with 3 generations, sharing a small house, only 10m2.

An alley on Hang Buom Street, deep and dark like a tunnel.

Mr. Le Cong Vinh (70 years old, Hang Buom street) said: “Although I am used to living here, sometimes I find it inconvenient. Every time you want to renovate the house, you have to pay more labor costs to carry the materials bit by bit from outside the entrance to the house ”.

According to Mr. Vinh, the biggest inconvenience here is the lack of common living space for everyone. Every time anyone’s house has a table, they have to borrow the space of the next house to have enough room for guests. When shopping for household appliances, everyone has to consider, calculate and only dare to buy items with the size that can pass through the lane.

Even during the day, even with the lights on, the alley is still dark.

Mr. Le Ngoc Anh (45 years old, Hang Buom street) expressed concern: “I only care for children who do not have a place to play and play. Every afternoon, they come home from school to see them sitting in the house watching TV or playing on the phone.

Alley space is narrow, many families with young children often have to go to the park or walk around the street to save trouble.

The lane’s meager space is used as a place for furniture, goods, and bicycles.

The electrical wiring and meters above are installed running along the small alley, potentially many risks, not ensuring electrical safety and fire prevention.

“The alley, the house is cramped, but it can’t be helped to move.”

Located deep in the alley only about 50cm wide, with dim electric lights on Hang Buom street, the house of Mr. Nguyen Thanh Long’s family has two floors, each floor is less than 10m2 but has 6 people, 3 generations. live together.

Mr. Long shared: “Although living conditions are quite tight, many households here do not want to move anywhere. Moreover, if we move, we do not know what kind of profession to make a living ”.

The small room, narrow alley, and Mr. Long’s furniture are only “moderate” in size.

An alley corner is used as a cooking place.

Many households have to share living space to save space.

The alley is very narrow, only one person can pass, so people often wait for each other to take each car out one by one …

Le Thi Gai (75 years old, Lo Su street, Hoan Kiem district) shared that her family has lived here since the 1960s, most of people here are manual labor, small businesses. in the old town. Although there are many inconveniences, the households living in these alleys are very united.

“Previously, 4 households in the alley used the same toilet, now life is better, each house built its own toilet, but we still told you to clean the way together. go, everyone’s living space ”.

A small, deep alley is nestled among flashy street shops.

Since 1998, the People’s Committee of Hanoi has started an old town migration project with the aim of reducing population density in the AQ from 823 people / ha in 2010 to 500 people / ha. Accordingly, the area of ​​Hoan Kiem old town has to move over 6,500 households, with about 27,000 people.

In the middle of 2019, the project of stretching the old town continues to restart after the years that seem to have “fallen asleep”. However, after more than 20 years of implementing this population relaxation project, the old quarters with a large population density, narrow houses crowded in deep streets continue to recur. Damage, peeling walls, steel core inside is common.

The alleys are not noisy, no hustle and bustle, still quietly nestled on the bustling streets of more than 20 years. The people living in it still keep harmony with each other, yield to the little common space, and preserve the civilized lifestyle of Ha Thanh land.