Re:Where do the wealthiest 1% live?
by seanmcdirmid on Sunday January 25, 2015 @08:10PM
(#8945047)
> I imagine a million USD goes a lot further in Shanghai than in SF.
And you would be surprised how much it doesn't. Costs in SH are high, and there are a lot of millionaires in the city even if that money is mostly gray.
Keep in mind that prices in China are lower at the low end, and higher at the high end. So ya, you can buy that cheap meal for cheaper, but if you want a BMW, you have to pay 2x/3x more. I do all my high-end shopping in the states when I go back once or twice a year (and I don't own a car).
And you would be surprised how much it doesn't. Costs in SH are high, and there are a lot of millionaires in the city even if that money is mostly gray.
Keep in mind that prices in China are lower at the low end, and higher at the high end. So ya, you can buy that cheap meal for cheaper, but if you want a BMW, you have to pay 2x/3x more. I do all my high-end shopping in the states when I go back once or twice a year (and I don't own a car).