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Chinese tourists wait in line out of a shopping store in the U.S. [file photo] |
Going shopping is a must-do thing for Chinese tourists travelling to the U.S. Thanks to low prices, they can always find something they badly need.
From t-shirts to sneakers, watches to iPhones, it seems that most consumer goods in the U.S. are cheaper than they are in China.
For example, the price of a pair of Levi’s pants in a U.S. store is about 30 to 40 dollars, while the price may go as high as 600 to 700 yuan (US$87.4-102.1) in China. An iPhone 7 (128G) is sold in the U.S. for 749 dollars, while in China you have to spend 6,188 yuan (US$901.2) to get one.
Chart 1: Price comparison between the U.S. and China
|
|
The U.S. (US$) |
China (US$) |
|
Pair of Levi’s pants |
30-40 |
87.4-102.1 |
|
iPhone 7 (128G) |
749 |
901.2 |
|
hair cut |
20-30 |
2.9-4.7 |
|
taxi starting price |
10 |
1.5 |
|
per-capita annual income |
40,000 |
7282.1 |
The per-capita annual income for an average American is about 40,000 dollars, but in China, people only earn 50,000 yuan (US$7282.1) a year on average – which means the American per-capita annual income is five or six times than that of Chinese.
However, some overseas Chinese found that it’s not cheap at all living in the U.S.
For example, if you want a haircut, you have to pay 20 to 30 dollars excluding tips in a Los Angeles salon; but in Beijing, it only costs you 20 to 30 yuan (US$2.9-4.7). The starting price for a taxi in Chicago is 10 dollars, but in Beijing and many Chinese big cities, it’s only 10 yuan (US$1.5).
Generally speaking, the price of consumer goods in the U.S. is lower than in China, but the price of service is higher. In other words, the U.S. has cheap manufactured goods, while the Chinese advantage falls on lower labor costs.
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Jonathan Ashworth MP, Labour’s Shadow Health Secretary, responding to quarter three figures showing NHS trusts are already in a deficit of £886m, said:
“Theresa May’s sustained underfunding of the NHS is stretching the finances of NHS hospitals beyond their limits. Even with the £1.8bn that was set aside in the ‘financial reset’ last summer hospitals have already run up a deficit of £886m this year. It will take a heroic effort by NHS staff to meet even the predicted year-end target in the face of chronic neglect by the Government.
“The Government needs to be honest about what this crisis means for patient care. It means cuts to frontline staff, longer waits for treatment and services at risk of closure. The money which had been set aside for NHS transformation funding, which should be improving services and bringing the deficit down in future, has instead had to be used to manage this year’s figures.
“Ministers are in denial, but the staggering decline in the NHS’s financial performance is a direct result of decisions they made. Cuts to social care have driven up hospital attendances while the Government’s inept workforce planning has forced hospitals to drain resources on expensive agency staff.
“The simple fact is that Tory Ministers have failed to come up with a workable solution to these problems. Their agency cap which was meant to help has been breached more than 2.7 million times already. The Government urgently need to provide a long-term, sustainable financial package to guarantee the NHS services which patients need for the future.”
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