Before I come to U.S., all my friends mentioned to me that they also want to have the chance to come to U.S.. Despite of travelling, another very important thing is shopping. They told me that shopping in U.S. is so cheap, even though every 1$ Chinese has to multiply 6.3 (exchange rate), still much cheaper than in China, especially in Shanghai.
After I came to U.S., I found this is true. Everything is cheaper, out of imagination which let me really can’t help envying U.S. citizens, except New York, the living cost here is really much lower compared with Shanghai.
Let’s talk about house first. My apartment in Shanghai is only 90 square meters, current value is 2,500,000 RMB, equal to around $403,000 which I think could buy a house in Reno with much bigger and cute house with a garden, largo space.
My car Honda Accord 2.0, I bought it with Shanghai license at about 250,000 RMB in 2009, equal to around $40.000, I think if I bought the same car in U.S. can be cheaper by about 20%~30%. This is mainly due to the tax. Can you imagine that the price of a car license in Shanghai has reached 90,000RMB this month? Will you cost $14,400 to buy a steel board of car license? The most expensive steel board in the world which could buy a second-hand BMW in U.S..
Talking about clothes and bags, I just would like to make some examples, then you can feel the difference. Of course, here I would like to take some U.S. brand as example. Coach, every Chinese come U.S. cannot miss. In U.S., the average price of new arrival bag is $350~$500(2200~ 3000RMB), but in China, 4000~10000RMB; Tommy, one man’s shirt is $50 (300RMB), but in China, the average price of a Tommy shirt is 800~900RMB; In U.S., I bought a lot of casual clothes of A&F, so cheap, triple price in China.
Iphone 5, unlock version, I bought here $699 (4400RMB) in Feb, but the price is 5288 RMB in China in Feb. Of course, as we know the service cost is relatively expensive in U.S., but an average meal $30 per person once a week , 200 RMB is also same in Shanghai.
Let’s imagine that one Chinese graduated student can find a job with 3500RMB in Shanghai and one U.S. graduated student can find a job with $3500 in Reno, the living cost and living pressure are totally different.
Now this year Chinese GDP slowdown to 7.5%, the exportation and domestic investment has reduced a lot, the government always hopes to stimulate the domestic consumption to pull the economic growth. As a Chinese, we also hope to make more contribution to domestic economy. But under such kind of situation of huge price difference, it’s very difficult to avoid making contribution to foreign countries’ GDP.
Therefore, almost in everywhere of the world, U.S., Europe, Japan, Korea, you can see huge amounts of Chinese people travel and do crazy shopping.
If you have interest in this topic, please leave a comment. Thanks!