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Wonderful run down on the bike sharing situation in China. In regards to the notion that 1 RMB per half hour is cheap, I would say it is fair. One RMB has buyin

by Cerium 10y ago

Wonderful run down on the bike sharing situation in China. In regards to the notion that 1 RMB per half hour is cheap, I would say it is fair. One RMB has buying power equal to about one USD in most situations.

imcotton 10y ago
> One RMB has buying power equal to about one USD in most situations. I strongly disagree, with one RMB in China you can only get a lighter (cheap one) in 7-11, I can't really think of anything else for that price.
- darklajid 10y ago
  For those of us that never held a USD in their hands: What would you be able to buy with a single Dollar?
  - dublinben 10y ago
    Almost anything you can imagine.[0][1] [1] https://www.dollartree.com/ https://www.dollartree.com/ [1] https://www.gobankingrates.com/personal-finance/best-dollar-menus-america/ https://www.gobankingrates.com/personal-finance/best-dollar-...
  - prklmn 10y ago
    For a somewhat apples to apples comparison, a 20 oz bottle of Coke (590 mL) cost me $1.69 in a city of 1 million people.
  - mrb 10y ago
    For 1 USD you could buy: 1.5L water bottle 2 stamps (cheapest ones) to send 2 letters 1 liter of gas (for cars) About 2/3rd of one McDonald's hamburger About 2/3rd of one avocado
- Cerium 10y ago
  In the USA if I need a quick breakfast I grab a bagel with a spread for about $3; in China I will grab a noodle bowl for 3 RMB or a couple baozi for 2 RMB each. Other points I use to come up with my recommendation that outside Beijing and Shanghai you treat 1 USD to be equal to 1 to 2 RMB. Bus Ride - $2, RMB 1-3 Quick lunch - $8-15, RMB 10-20 Beer at a basic bar - $6-8, RMB 8-12 Beer at store: $1-2, RMB 2-4 Of course this is for domestic products in both countries. Imports cost more and follow exchange rate. For example, in China imports are usually exchange price + 25% import tax (electronics, cars).
fallmonkey 10y ago
I've lived in different cities in China and US. 4-6 RMB to 1 USD in major cities like Beijing/Shanghai, and 1-3 RMB to 1 USD in less developed cities or sururban area. Less developed a city is, less RMB to USD in purchasing power for most domestic goods.

by Cerium 10y ago

imcotton 10y ago

> One RMB has buying power equal to about one USD in most situations. I strongly disagree, with one RMB in China you can only get a lighter (cheap one) in 7-11, I can't really think of anything else for that price.

darklajid 10y ago
For those of us that never held a USD in their hands: What would you be able to buy with a single Dollar?
- dublinben 10y ago
  Almost anything you can imagine.[0][1] [1] https://www.dollartree.com/ https://www.dollartree.com/ [1] https://www.gobankingrates.com/personal-finance/best-dollar-menus-america/ https://www.gobankingrates.com/personal-finance/best-dollar-...
- prklmn 10y ago
  For a somewhat apples to apples comparison, a 20 oz bottle of Coke (590 mL) cost me $1.69 in a city of 1 million people.
- mrb 10y ago
  For 1 USD you could buy: 1.5L water bottle 2 stamps (cheapest ones) to send 2 letters 1 liter of gas (for cars) About 2/3rd of one McDonald's hamburger About 2/3rd of one avocado
Cerium 10y ago
In the USA if I need a quick breakfast I grab a bagel with a spread for about $3; in China I will grab a noodle bowl for 3 RMB or a couple baozi for 2 RMB each. Other points I use to come up with my recommendation that outside Beijing and Shanghai you treat 1 USD to be equal to 1 to 2 RMB. Bus Ride - $2, RMB 1-3 Quick lunch - $8-15, RMB 10-20 Beer at a basic bar - $6-8, RMB 8-12 Beer at store: $1-2, RMB 2-4 Of course this is for domestic products in both countries. Imports cost more and follow exchange rate. For example, in China imports are usually exchange price + 25% import tax (electronics, cars).

fallmonkey 10y ago

I've lived in different cities in China and US. 4-6 RMB to 1 USD in major cities like Beijing/Shanghai, and 1-3 RMB to 1 USD in less developed cities or sururban area. Less developed a city is, less RMB to USD in purchasing power for most domestic goods.