money in China?

Question

How are the cost of things in China compaired to the US? Will I be rich, the same, or poor when I get there?

Answer 1

Food is relatively cheap, the dollar is 1 - 7.6 right now but on the verge of changing, the RMB will get stronger, so, it is a good time to bring some USD, change it into RMB and wait until the exchange rate get more equal, easy way to make some extra cash, as far as rich, that is how one defines that word, rich in the material/cash meaning of the word, yes, your money will go far here but compared to the upper class of China you will be just as you are probably in the USA, compared to the majority of Chinese living outside the cities, yes you will be rich. Starbucks coffee does nto cost 30 rmb, it costs 15 rmb for a zhing bei

Answer 2

You will definitely not get rich, because the government will probably withhold most of your money as taxes. You will be poorer if you wish to live in the countryside, as opposed to living in the city. You could work, and get back some of the money you used, therefore making up for lost money during your stay. But in Asia, you get a monthly paycheck, and overtime pay is very difficult to calculate. Everything would seem to be cheaper over in China compared to the US, in terms of US dollars. Beware, anything could be fake in China: pirated cds, dvds, etc, fake pork, fake egg, fake medicine, etc... It's safer to cook by yourself, or pay way too much sometimes at a fancy restaurant.

Answer 3

Well, it depends on what you are doing in China. If you work hard, and know how to save, you'll be rich. If you are doing the things you are doing, you will be the same. If you go there and have fun all the time, then you'll be poor in one night.

Answer 4

almost everything costs less. us dollars are worth approximately 8 times the chinese yuan. and pay is considerably less in china. those two things spell out what seems like a bargain to us. i wanted a pda, thought i could get a deal in china, found out that i could buy it online or at home in the midwest for the same money. food is less, public transportation is less, housing is less. if you had $2000 us dollars a month you could live very comfortable in china. it's where i plan to retire on my modest pension.

Answer 5

The cost of living in China can be much cheaper than the U.S. but it depends on the type of lifestyle you plan to live while you're in China and which city you'll be living in. Big cities like Shanghai and Beijing can be just as expensive as the U.S. when it comes to food, housing and partying. But if you want to live and eat like a local, you can get by with a lot less. The exchange rate is $1 USD to 7.8 RMB.

I moved from NYC to Shanghai about 4 months ago and have adjusted nicely but that's probably because I moved from one big city to another. My rent for a 2BR apartment in Pudong, Shanghai only costs me $300 USD/month. But if I wanted to live in downtown Shanghai, the rent could easily be 5-10 times more than what I'm paying. I have a local girlfriend who speaks Mandarin so we usually eat local. Dinner for 2 at a decent restaurant can probably go for about 100-200RMB = $15-$30. If we wanted to just have a noodles or rice dish for lunch or dinner, that'll probably just cost like 60-80RMB = $8-$11. There's plenty of Western food out here but it's a little more expensive. A cup of coffee at the Starbucks here will cost you about 30RMB/cup but a local shop will only charge like 15-18RMB/cup or even less.

I'm happy living frugally out here...especially since I'm not working and living off my savings.

Good luck with your trip to China!

Answer 6

It seems like the last dozen or so things I bought was made in china. So it tells you where all are money is going.

Answer 7

Rich by far...

Answer 8

You will have more .