Financial woes turn "expat" into a dirty word

Larry Wang has a tendency not to let people finish their sentences - a condition he may have developed from 14 years of cold-calling potential candidates, enticing them to leave their jobs and work in the fastest growing economy in the world. "Our industry was built on cold-calling," Wang explains.

"China was once seen as the hardship post. The word expat was synonymous with premium, and to work here, people would expect a compensation package - free schooling for their children and maybe a villa at the edge of the city," says the 49-year-old headhunter while sipping coffee inside a Starbucks caf in Soho, Beijing.

The American-born Chinese is managing director of Wang & Li, a recruitment company that matches candidates with multi-national firms in China.