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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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 Posted: Sat Mar 22, 2008 7:02 pm Post subject: if the market/won continue to drop... |
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if the markets/won continue to get trashed, is it better to be in china or korea?
both get you free housing. while the won has been devalued the RMB is still at 7 to 1.
the won is gonna get worse before it gets better and long termers may very well sit tight but once-around-the block types, does it behoove you to stay in a place where the currency deteriorates almost daily?
i always get offers at about the same $ value to teach in china as korea and am starting to think that the tilt of the table has switched. any insights? |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Sat Mar 22, 2008 7:11 pm Post subject: Re: if the market/won continue to drop... |
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| mistermasan wrote: |
if the markets/won continue to get trashed, is it better to be in china or korea?
both get you free housing. while the won has been devalued the RMB is still at 7 to 1.
the won is gonna get worse before it gets better and long termers may very well sit tight but once-around-the block types, does it behoove you to stay in a place where the currency deteriorates almost daily?
i always get offers at about the same $ value to teach in china as korea and am starting to think that the tilt of the table has switched. any insights? |
I would go to Japan. The Yen is doing well enough right now, and the visa regulations are much easier to deal with. Korea right now with the drop in currency, the visa regulations which haven't helped foreigners at all, as there are no breaks really for foreigners in the law of major consequence, doesn't make it very attractive to work here as much as before, but I hope that President Lee will change things and salaries also go up somewhat. If the won drops, Japan looks more and more attractive. Korea is more of a secondary market, rather than a primary one like Japan and the US. It is feeling the effects of the problems in the US. Canada is not feeling it, because it deals with its commodities are what's holding Canada together, but the manufacturing sector in Ontario has had some problems due to the appreciation of the Canadian dollar.
Anyway, where's our resident economist who used to live in Singapore?
Gopher, care to weigh in on this one? |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Sat Mar 22, 2008 7:27 pm Post subject: |
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it seems to me that korea shadows japan and will continue to devalue the won to stay competitive with japan.
i do know that china has never liked to move the value of the rmb. just seems that is as good place as any (and it would be wise to use my chinese degree sometime in life again). |
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Czarjorge
Joined: 01 May 2007
Location: I now have the same moustache, and it is glorious.
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| Posted: Sun Mar 23, 2008 7:05 pm Post subject: |
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But are there positions in China that don't require certification?
Not dropping three grand for certification offsets the money problems, doesn't it?
The won will come back, won't it?
I'm not being 'smart', I'm really asking.  |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Sun Mar 23, 2008 7:44 pm Post subject: Re: if the market/won continue to drop... |
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| mistermasan wrote: |
| if the markets/won continue to get trashed, is it better to be in china or korea? |
My conscience will always over-ride life's base greed factor. 
i vote with my feet ( & mouse clicks ).
That's about all we really have. |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Sun Mar 23, 2008 9:44 pm Post subject: |
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2.2 base in korea vs 16,000 in china. about the same in US $.
iam american, i can't afford a conscious. |
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crusher_of_heads
Joined: 23 Feb 2007
Location: kimbop and kimchi for kimberly!!!!
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| Posted: Sun Mar 23, 2008 9:48 pm Post subject: |
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I have the luxury of not having any debt other than 50% of a mortgage, but China's human rights abuses-there's just no cahnce of going there-Japan would be the better choice.
Even iwth the depreciating won, and the idiosyncracies of spitting/staring/shoving, I'm staying. |
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Tiger Beer
Joined: 07 Feb 2003
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| Posted: Sun Mar 23, 2008 10:23 pm Post subject: |
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| Czarjorge wrote: |
| But are there positions in China that don't require certification? |
What kind of certification is this? I haven't heard of that before... |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Mon Mar 24, 2008 5:31 am Post subject: |
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| lotsa teaching jobs in china don't require certification. |
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Milwaukiedave
Joined: 02 Oct 2004
Location: Goseong
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| Posted: Tue Mar 25, 2008 1:48 am Post subject: |
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| The won had already dropped back below 1,000 as of yesterday, so don't panic. Yes, it went up, but it's probably a temporary thing. |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Tue Mar 25, 2008 1:51 am Post subject: |
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| going from 1003 to 993 is a move in the right direction. but, just like you, i think it isn't finished gong the other way. |
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