In my last article, I asked the rather inflammatory question, "Are Americans China’s new migrant workers?" In all honesty, I did this more to grab the readers' attention than to suggest that this is actually the case. However, there is no arguing that the way westerners view China is changing – this is a process that has accelerated in the last year thanks to the global financial crisis, China’s growing economic prominence and the country’s rapid modernization. Gone are the days of hardship bonuses for those posted here. Instead, a new generation of laowai now sees China offering a chance to grow and develop professionally.

The whole situation has taken something close to a 180 degree spin. Ten years ago, expats heading out here could expect extra cash and benefits just to come to somewhere so 'inhospitable'. Now, we are starting to see younger expats heading out on their own dime in search of experience to kick-start their career. A growing trend we are witnessing is the rise of internships in China, where young foreigners actually pay to spend time in China!

The logic behind this trend is pretty simple. With universities in the UK and US producing more and more graduates and the financial crisis taking away jobs at home, the chances of them finding jobs is greatly reduced. A report in the UK newspaper The Guardian estimates that an extra 22,000 young people will be unable to find a graduate level position after university this year. That is almost 10%, a rise of 4% in just over two years. In America too, the number continues to inch towards double digits. With the market becoming increasingly competitive, many graduates have begun to realize that a degree in itself no longer offers the value it once did – it must be supported by intangible factors – they now need something on their resume that jumps out and screams, "I am different!"

An internship in China would certainly do that. Not only will it allow these graduates to gain valuable workplace experience, but it will also show potential employers that they are out-going, dynamic and adaptable. On top of this, they also get the chance to learn Mandarin - although how much they would have the opportunity to learn in a six month spell working 9 to 5 is open to debate. Looking at an internship in this light, it seems they are a fantastic idea. Six months or a year away from home building such impressive experiences, what is there to lose? However, when we factor in some of the financial implications, the situation may not look quite so rosy.

A recent study by American Student Assistance found that, on average, students graduate with over $47,000 of debt – more with some post-graduate degrees. In the UK, those graduating this year can expect to have debts of over £15,000 (about $24,450) – this is rising dramatically year on year. With figures like this floating around, many graduates can scarcely afford to delay finding gainful employment once they have passed through the gates of academia for the final time. Coupled with all this, an internship is unlikely to be a cheap experience.

Some graduates will be lucky enough to secure their internships through contacts in their home country dealing directly with the company with which they hope to intern. However, others will have no such luck, and will be forced to arrange their working experience through an intermediary such as internabroad.com, Asiainterns or Match Dragon. Unfortunately, using such companies does not come cheap. The average scheme would see the intern shell out plenty of cash up-front. This will be for flights to China, visas and the agent's fee, which can be upwards of $2,000 or 3,000.

After the initial outlay and the interns actually arrive here in China, they then have the issue of the cost of living. The extent of this can often depend on the company. For many, internships are unpaid - these are often short term, for a few weeks or months. For longer placements, such as 6 months or a year, the intern is likely to receive a stipend or assistance in housing. Usually, here, the compensation might be similar to that received by a Chinese employee of similar age and experience – probably around 1500-3000 RMB per month – not that much for a young graduate already boasting severe debt. The biggest problem with this scenario is that the majority of internships are likely to be located in the major cities on the east coast, where the cost of living is high.

The equation for many young expats is simple. An internship can be a good idea – the growing influx of westerners shows that many believe this to be true – but they are by no way cheap. Estimating their actual value though, in the short-term at least, prove difficult as this new wave of migration to the Middle Kingdom is a relatively embryonic phenomenon. The test comes in the next year to 18 months as more and more interns head home after their China experience and begin to look for jobs.

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