Do expats in China feel they are immune to the financial crisis?

Do expats in China feel they are immune to the financial crisis?
Nov 4, 2008 03:57
guest1714	I am a newbie here. I just read a report in China Daily. The report says that many expatriates in China felt they are largely immune to the global financial crisis. The article states that the foreigners living in China generally make three times or four times than the Chinese colleagues in China. They lived a better-off live in China. How many expatriates felt the way as the report says? Do your bosses cut your pay?

Nov 4, 2008 03:57

guest1714

I am a newbie here. I just read a report in China Daily. The report says that many expatriates in China felt they are largely immune to the global financial crisis. The article states that the foreigners living in China generally make three times or four times than the Chinese colleagues in China. They lived a better-off live in China. How many expatriates felt the way as the report says? Do your bosses cut your pay?

Nov 8, 2008 09:41	#1
JABAROOTOO Points: Join Date: Jul 4, 2005 Status: Offline	No most everyone who is on foreign salary scale has had their salaries doubled in some instances if they send the money out of China. If they are traveling home just now there is also a beneficial exchange rate between some currencies. But for many, who earn so little here (teaching) it doesn't make much difference because the cost of living is rising here as well.

Nov 9, 2008 10:56

APAULT
Points:
Join Date: Mar 11, 2006
Status: Offline

I agree with Jabs, but add that expats employed from overseas are not immmune to how their parent companies are faring. For those of us in teaching, China is not going to stop employing teachers, and even a slowing of the increase in the number of rich kids being sent to extra English classes will still mean there will be more classes and more teachers needed (and the shortage will continue as long as employers continue to pay less than the market rate for teachers). Of course if Mr Obama cannot undo the mess that Bush has created, perhaps the supply of teachers will increase ten fold!!!

Nov 13, 2008 03:27

AL32
Points:
Join Date: Sep 11, 2007
Status: Offline

I'm with Paul and Jab on this one:
we're not immune in the sense that we will not feel the inflation in China, but our jobs are/will be pretty secure.
I also forsee the larger number of foreigners chosing to come here to work and escape the financial craziness of the Western world..hehe!

As for expats: they should not feel too confident because who knows what their company in their home country will go through...they might be the first ones to be laid off...

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