| JianShuo, very good description of the difference. I almost have the same feeling when I came to US(and NYC a few times). All those costs are very expensive relatively here and I think that is why all those companies are outsourcing their, mostly backoffice, operation to India. China could be a place to this kind of outsourcing as well given the endless supply of highly-educated people. Another interesting thing to notice is that China is hoarding more than 1300B foreign reserve right now and RMB is under pressure to appreciate. Let's see how the economy turns out. The subprime related house bubble in US is bursting and I am not sure if that will affect things in Shanghai. |
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