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Young foreigners hunt jobs in China amid crisis

(Agencies)
Updated: 2009-09-20 20:33

A 28-year-old former London banker took a job a year ago with a Chinese private equity firm after the crisis devastated his industry at home. He said that even though he spoke no Chinese, his experience and contacts made him a sought-after asset in China, a market that he said offers "a much faster route to a top-level position."

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Konstantin Schamber, a 27-year-old German, passed up possible jobs at home to become business manager for a Beijing law firm, where he is the only foreign employee.

"I believe China is the same place as the United States used to be in the 1930s that attracts a lot of people who'd like to have either money or career opportunities," Schamber said.

Job hunters from other Asian countries also are looking to China.

An Kwang-jin, a 30-year-old South Korean photographer, has worked as a freelancer for a year in the eastern city of Qingdao. He said China offered more opportunities as South Korea struggles with a sluggish economy.

Still, foreigners will face more competition from a rising number of educated, English-speaking young Chinese, some of them returning from the West with work experience, Rein said.

"You have a lot of Chinese from top universities who are making $500-$600 a month," Rein said. "Making a case that you are much better than they are is very hard."

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