subhamoy.das wrote:If the prices quoted by Liu is correct, then Indian goods and services are 10x of those in China and so a Indian worker should be making 100K in local currency per month to have the same quality of life as the Chinese peasant class. So this means that the Chinese peasant class has same purchasing power as the Indian IT class!
But the price quoted by another Chinese poster, Heech, and by Rirshirishi indicates that Indian goods and services are probably same or 10-20% more. Not sure what is the truth
1. the quoted price is absolutely correct, because they are quoted directly from Taobao or Jiongdong( CHinese E-commmerce websites like E-bay).
in fact, if you have Chinese Unionpay cards, you can order them right now with the links quoted.
Usually in China, those toys will be packaged to you 3 days after ordered.
the sellers can not receive the fund until you checked the packaged goods and confirm the quality on thosewebsites.
in fact, Taobao and Jingdong is much more effiecient and better than E-bay.
2. chinese peasant workers ,as well as west grassroots such as KFC waiters, can not life a cozy life.
after all, they are grassroot class.
Except basic life expenditures, they have lots something else to worry,although most CHinese peasant family can save 3000-6000RMB every monthly indeed.
hey can not spend all saved money on buying AC,PC or other duables
for example,
they might want to buy one apartment in countytown or upgrade their house in their homevillages.
they might want to save some money for a better education of their kids.
both two items costs much more than basic daily expenditures such as food,basic clothes .
3. industry products in China surely is much cheaper than in India. that is why india now is importing them from China and has a huge trade-deficit against CHina.
5. however, service sectors in India is much cheaper than in China....
reason is quite simple: indian labour cost is much lower than Chinese one.
for example.
We can compare housekeeping service in the two countries.
one dedicated babysitter here have 6 days paid vacation every month and needn't do any cooking or house-keeping works. the salary of such dedicated babysitter is 3500RMB(about 580USD)/month plus free food and accommodation.
can indian people tell me how about babysitter in India??