Leaving the majority of citizens without savings is a basic national policy of countries around the world.
No matter how high the nominal salary in a city is, it is all fake.
Whether it is London, New York, Beijing, Shanghai, or Hong Kong, the price level will automatically adjust to a level where the bottom workers will be left with nothing every month after paying for rent, food, transportation, and other basic living costs. Whether you earn $8,000 a month in Shanghai or $3,000 in New York, the outcome is the same.
We must recognize the nature of social resource allocation.
The middle and lower classes of society earn their income by selling their labor.