| I agree with someone who said that comparing with the ABSOLUTE price is wrong, which means that you can not convert the merchandise price by the foreign exchange rate, here, multify by 8.25 for RMB.
I live in New York City and commute by subway to work everyday. I also quite often travel to Shanghai for business trip. Our company has a small representative office in SH. If you think the salaries in the number amount (not value) in both Shanghai and New York, they are so similar in terms of the average salary. (Forget about those rich people in this fantasitic City). Average Salary is abut $4000-5000 (new York) and RMB 4000-5000 (shanghai). Is that OK? Let's do a quick math: New York City ($) ;;; Shanghai (RMB) Subway 2 ;;; 3-5 (anywhere, and transfer to bus free within 2 hrs in NYC, also monthly pass is $70, weekly pass $21, one day pass $7 will raise to $76 after in feb 2005. No such benefit for the regular commuter in Shanghai.) Food for 2 25-35 ;;; 80-150 (For food, I mean the regular restrurants in the city, not fancy, but nice food, same compariosn in SH) McDonald's 6.5 ;;; 19 (a big Mac, fried potato and Pepsi) cost 5.99 USD plus tax (0.08625%) in New York. Rental 1500-2500 ;;; 1500-2500 (based on two bedroom in the normal affordable areas.) Clothes 150 ;;; 1000-2000 (based on leather jacket) Shoes 70 ;;; 400-500 (based on the nice leather shoes for work) Apartment 300K-400K ;;; 1000K (for two bedroom apts) so on and so forth.... The quesiton really is, do you think it is cheaper to spend on meals for 2, for 30 RMB if you earn 5000 RMB? If so, you will not say that it is TOO expensive in USA. |
Life in New York is Tough for Me