主题：del -- MRandson

when I was back to Shanghai. I notice that there has been little difference in terms of food price between Shanghai and second-tier east-coast US cities. I mean processed food or restaurant food. Raw material, such as rice, was still cheaper then in China due to strict gov. control.

But service is still much more expensive in US than in China.

Hyper inflation is going to change that soon.

Global convergence of goods price has been reached since there is almost perfect free movement of goods and very low transaction costs between the U.S. and China.

But global salary divergence persists because there is no free movement of labor at all between the U.S. and China.