Making Millions in China

While President Obama continues to push China to open its markets to more American products, U.S. companies are already making large profits there. Celia Hatton reports.

Category:

News & Politics

Tags:

• cbsepisode
• China
• U.S.
• America
• Profit
• Trade
• Export
• Import
• Finance
• Recession

[your247support]

@xingfenzhen The american good they buy in china are made in china LOL

[monsterz10]

Fuck the people who say China manipulates America economy

[cismok]

$2,300, hardly believe, but it's possible in next 10 years

[xingfenzhen]

@eastern2western

in Yuan, but then it's per month. 15k dollar per month would 180K USD per year, that more than a million yuan per year. You have be a CEO in China to make that much money!

[xingfenzhen]

@eastern2western

a good way check salaries (if you can read chinese) is go to zhaopin dot com and look at their average salaries section broken down by city, industry, profession, education and experience. It is used for salary negotiation in China. But it can be good research tool.

[eastern2western]

@xingfenzhen dollars or yuan because 15k in dollars is a lot

[xingfenzhen]

@eastern2western

That probably because these college grads are not doing work that actually require college work. Like English or Chinese majors doing clerical work or sales.Of my two cousins born and raised and educated in China. One is an engineer that get 15k / mo. just the salary, the other is an accountant that make 5k / mo. (she said she will get a raise to 8k if she pass some sort of licensing test.) Big difference, and accounting probably better than English majors.

[xingfenzhen]

@xingfenzhen

Also from info I got from my cousin from China, this offer is about 25% more than what a college grad from China would get. And if I bargain hard enough, and if the company really wants me, I could push for 1 0000 RMB salary, and 5000 living subsidy. So, salary is low in China, but not that low.

Btw, all subsidy can only by reimbursed via an receipt. It is this way so companies can avoid payroll tax and employee can avoid income tax.

[eastern2western]

@xingfenzhen but everyyear they say that college grads can barely get jobs for 2000yuan a month. hard to believe that they would much rather hire a foreigner for the price of 10 locals

[xingfenzhen]

@eastern2western

2,300 dollar is 1 6100 RMB in China. I actually got a job offer from China, last year. (Which I turn down, after I got a better offer in the States.) So Here is the offer for reference:

For a Electrical Engineer, graduated from top rank US university, with 1 year industry experience:

Salary RMB: 7500 / month

Insurance subsidy: 1500 / month

Housing Subsidy (company pays your rent): up to 3500 / month

Living subsidy (company pays your bills): up to 3500 / month