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Chinese pay more for houses, clothes, coffee, iPads...
By Juwai, 04 September 2013
If you're accustomed to thinking of China as an undeveloped country, it might surprise you that many things cost more there.
Real estate has reached historic high levels, which is one reason so many Chinese are looking overseas to buy property.
But Chinese also pay $1 more for a Starbucks latte. They pay $229,000 for a Cadillac Escalade Hybrid Base 6.0. The same car costs $73,000 in the US – one third the price.
Even Apple products are more expensive in China – an iPad 2 starts at $488 in China, but at only $399 in the US Research shows that apparel is 70% more expensive in China than in the US.
Thanks to the internet, Chinese shoppers know they are paying more, and they are not happy about it.
Some, like Guan Honglei, a 30-year-old worker in finance, will only buy in Hong Kong or on overseas websites.
"It's not worth shopping in China," Mr. Guan told the Journal. "If you can wait, do it elsewhere."
Read more on The Wall Street Journal.