Monday, May 24, 2010

Inflation up the wazoooo
















I know I've already mentioned the high cost of living in Beijing, but I want to give some specific examples. It's mind-blowing. First off, the average college grad earns about 3000-4000 RMB ($400-$600 USD) per month. Now let's take a look at some living expenses.

- Rent for a one-bedroom apartment is about 2800-3000 RMB, which already takes up someone's monthly salary.
- When dining out, the average cost per person is 60 RMB at a mediocre restaurant.
- Starbucks coffee costs 30 RMB.
- Cell phones cost anywhere between 500-3000 RMB. Most have cell phones that are at least 2500 RMB.
- What's considered cheap clothing: 50-100 RMB. Most clothes cost at least 150 RMB in department stores. The upper-middle class will purchase items at the 600-1000 RMB price range.
- Pictured are walnuts (78 RMB/kg) and grapes (17.60 RMB) at an average supermarket.
- Mid-level cars (Hondas, Toyotas) cost from 250,000-350,000 RMB.
- To purchase real estate, a simple one-bedroom apartment can cost up to 2,100,000 RMB!

So can you imagine making $3000/month and spending $30 on coffee and $2500 on a cell phone?! Whoever said China was cheap should take a second look.

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