Even with the current RMB valuation, living in China is considerably cheaper than living in the U.S. and most of Europe.

In Sanya, Hainan, one of China's most expensive cities, you can rent a two bedroom apartment with a sea view for 4000 RMB a month. Try getting an apartment like that in Florida for $630 a month.

Living on 10,000 Rmb a month in China is a good life, if you are able to adapt to the culture. Living on $1,600 a month in the U.S. is a struggle, even in poor states.

Health and visa considerations require planning, but Medicare is always a 14 hour flight away.