Costing Out China

By American standards, China seems to be an inexpensive place to live.  The currency in China is called the yuan or RMB.  There are just under eight yuan to one U.S. dollar.  As the journalism group travels around Shanghai, we’ve noticed how inexpensive items appear to be based on what we see back home.  A breakfast value meal at McDonald’s in Shanghai runs about $1.50.  A taxi ride from central Shanghai to the downtown area, about 10-15 minutes, will cost 15-20 yuan, less than $2.00.  A bottle of Tsingtao beer in a bar or restaurant is about $3.00, but the same beer purchased at a small market is about 75-cents.  At the Nanjing Road pedestrian mall, Nike sports shoes were about $28 US.  At a mall, near our Shanghai restaurant, a polo or Izod golf shirt is more expensive at about $90.  Two nights ago, at a Chinese restaurant, our dinner featuring eight different dishes, cost $5.25 per person.  There’s no tipping anywhere in China—not at restaurants, at airports , taxis or other places.