China is expensive-only for the C-Suiters

Now I know how the One-Percenters live in China - expats, that is.

According to a widely-reported international cost of living survey released last month, Shanghai and Beijing were rated among the top 10 most expensive cities in the world (along with the usual suspects Hong Kong, Zurich, Geneva, Tokyo and Singapore). Apart from the two Swiss cities, no European or North American city figures in the list.

The prices of more than 200 items - from housing to transport to a cup of coffee and a bottle of beer - were reportedly surveyed in more than 300 cities across five continents, the whole exercise to help multinational companies determine compensation packages for expats - clearly those in C-suites.