Add in higher domestic food and energy prices and surging labour costs, and the China price may soon be a good deal higher.
With the China price rising, everyone else wants to raise prices.
Host Steve Inskeep talks with NPR's Frank Langfitt and Alexandra Harney, author of The China Price, about what the future may hold for the world economy.
The biggest obstacle to buying books online in China is not price, as in America, but a lack of availability and trust.
What could happen in the future is markets like Brazil and China agree to price iron ore in yuan, or even Brazilian reals.
The fact is that the truck market in China is very price-conscious, and the introduction of advanced technology tends to make the trucks of the international players unaffordable.
China reported its consumer price index rose 1.8% in July, from a year earlier.
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China's consumer price inflation rate for December 2011 is 4.1%, while the annual rate is 5.4%, the government revealed.
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On the economic front, China is paying the price for its rescue plan.
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For multinationals, one benefit of listing in China is the high price investors there are willing to pay for shares.
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The Hangzhou-based mobile applications provider went on to announce several partnerships with large portal companies in China and its stock price increased 400% very quickly.
The Shanghai Composite Index added 0.1% to 2349.59 as investors considered the implications of China's consumer price index for January, up 4.5% from a year earlier, well above economists' median forecast for a 4.1% rise.
Beijing and Guangzhou cities both posted a monthly gain of 3.1%, the highest price hike in China.
This trend, says McKinsey, is likely to continue in the face of a rising India and China and Internet-mediated price competition.
But the latest price surveys have raised the estimated price level in China (and so reduced GDP per head measured at PPP).
The news could be a harbinger of even steeper price cuts for China, which consumes far greater amount of the raw materials than their fellow Asian nation.
China's consumer-price index, a measure of inflation, rose at a slower clip in March than in February, which investors interpreted to mean monetary policy was likely to remain relatively accommodative.
Cool as the iPhone is--I'm buying one this weekend--the price couldn't be sustained in the world of the cheap revolution, where Moore's Law drives the cost down and buyers in China and India set the price.
Ricardo Correa, the owner of Paramont Asia, which sold more than 35m pairs of ladies' shoes last year, moved to China in 1995, prompted by the combination of price pressures in Brazil and a shortage of skills in China.
After slaving for three years building up my firm, the China Market Research Group, positioned as higher than McKinsey in price and quality for strategy projects focused on China, I feared losing it all.
This year China has been pushing for big price cuts, in response to the waning world economy.
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But competing on price with countries like China and on engineering with countries like Germany is not easy.
Almost every market for technology products or services in China is oversupplied and many firms price below marginal cost.
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North American assets hold the international key to price risk management for China.
China and Russia were meanwhile imposing price controls, while Argentina and Vietnam were enforcing foreign sales taxes or export bans, she said.
Take a look at the chart below, which shows the strong correlation between incomes in China and India and the gold price.
The price of labor in China is low in international standards.
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While inflation has been on the rise recently in China, 75 percent of the price increases are due to jumps in food prices, particularly for fresh fruits and vegetables.
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