It depends on whom they surveyed. If they surveyed white collar workers and Western expats, the cost of living in Shanghai could very well be that expensive. If

It depends on whom they surveyed. If they surveyed white collar workers and Western expats, the cost of living in Shanghai could very well be that expensive. If they surveyed migrant workers... no, it definitely is not. Also, peg aside, the RMB has been strengthening in value over the past decade, and the Euro, I believe, has definitely gained against the dollar. So while NY may be expensive in the US, it is increasingly cheap when compared to certain other countries.