... But they are now feeling the pinch

Description

China　experience　is　important,　but　it　is　becoming　harder　for　foreigners　to　get　it ＂China　experience＂　has　been　regaining　the　significance　it　once　commanded　centuries　ago　when　the　country　was　at　its　zenith.　This　is　because　China＇s　ever　growing　economy　is　drawing　extensive　global　attention.　The　demand　for　China　experience　is　an　inevitable　outcome.　Having　China-related　expertise　and　knowledge　is　no　longer　just　a　box　to　tick　on　a　CV,　but　a　necessity　for　promotion　to　upper-middle　or　senior　corporate　positions,　or　a　ticket　to　more　attractive　jobs. Unsurprisingly,　what　comes　with　this　flourishing　temptation　is　the　increasing　competition　among　expatriates　in　China.　This　was　not　the　case　10,　or　even　five,　years　ago.　Then,　it　was　less　competitive　-　fewer　promising　candidates　vying　for　salary　packages　that　came　with　perks　coupled　with　lower　cost　of　living.　Today,　the　perceived　expat＇s　superiority　in　China＇s　labor　market,　especially　among　multinational　enterprises　in　its　first-tier　cities,　is　beginning　to　wear　thin.　This　is　because　as　domestic　markets　grow　in　importance,　companies　and　institutions　move　quickly　to　localize　expat　staff　and　withdraw　lucrative　welfare　items　such　as　children＇s　education　and　transport　allowances,　as　well　as　housing　and　meal　subsidies.