Simply astounding. Only native speakers of English can get away with the naive idea that learning a foreign language is a waste of time. In the rest of the world, many people just have to pick up foreign languages and picking up Chinese is not always such a big deal.

Chinese is not any harder to learn than English. Whether you should learn it or not depends on what you want to do with it. There are many people that are learning the language starting at a very young age here in Australia. It's useful just to understand and speak the language, because without knowing the language I can't see how the World will gain a better understanding of China. Intrinsic to every language is also part of its culture something that could not be understood through translation.

Cam, I could have written your post word for word (have logged just a couple months more time than you in China, sounds like about the same level of Chinese; I never had time to study at Tsinghua - just had a tutor b/c I work full time as a senior manager).
The age at which you start is a big factor. My kids (thank God) are learning Chinese at a young age, and will be able to read and write (I never will). I think if someone's younger, say, early 20s, investing 2+ years in learning a high level of Chinese will pay off. But once you hit your 30s, I do think it's true that your value to the company in terms of your skills is going to be a lot higher than a younger, less-skilled person's excellent Chinese. And so depending on your age/career point, you're going to make different decisions about the opportunity costs of an hour studying Chinese vs. an hour working on a project for a client.
I'm also astounded at what seems like a huge number of foreigners with great Chinese. AND the number of Chinese with great English. Having both skills at a near-native level is becoming commoditized for the sub-25 set, and is no longer a significant differentiator (so much for the great plan to get the kids fluent and give 'em an edge; most kids at their international school speak about four languages!)
But for us over-30s and over-40s, who brought to China deep skillsets and senior management experience, Chinese is a great plus but less important than the experience. So I kind of understand Perkowski - it IS a rationalization but he DOES have a point.
But if you're a 28-year old American with fantastic Chinese from summers at Princeton in Beijing and two years at IUP and expect to get a great-paying job at a MNC, you're at the back of a long line of people your age who have all that, plus Spanish, Korean and 4-5 years of real-world work experience.

I haven't been in China since 01/06, so you guys are more current than I. That said, I saw lots of foreigners with solid Chinese skills. Where'd I see them? Hanging out, waiting for their big break, certain that their skills (acquired at schools like UCLA, Dartmouth, Bennington, Ohio State) would catipult them beyond the lukewarm ESL Instructor/translator/low-level office monkey circuit.

What everyone overlooks is that there are far more Chinese with good english skills than there are foreigners with excellent Chinese skills. Chinese employees don't expect to go home once a year, they'll work 12 hour days (knowing they can be easily replaced), and they will put up with the fake holidays where you have a few days off then work the next two weekends in a row. Chinese employees will work Christmas and Thanksgiving, no problem! And will any westerner over age 27 work for less than 10000 RMB? One of my former coworkers, a graduate of ECNU has been in Sh for 4 years and makes 5000 RMB or so. Thats the high end of the norm for her generation.

Then there are the other Asians, the Koreans, Japanese, ethnic Chinese from Vietnam, Malaysia, Indonesia...they'll work for (what westerners consider) low wages cuz it's better than what they can make at home. A guy from Indonesia replaced me, sharp as hell! Great Chinese, perfect English...

I think westerners would do better to remember that they aren't only competing with Chinese, they are also competing with really thirsty people from other developing nations. The economy might be booming, but wages aren't keeping the same pace. They don't have to!

I think this is, at the very least a good question to raise. It isn't to say that Westerners, especially Americans, shouldn't try to learn Chinese or other languages, especially at younger ages. But I have confronted this issue myself. I am a 27 year old who only started learning Chinese at the age of 25. Whenever I start a new class or tutoring session I tell myself "this time I will spend the necessary time to not just maintain my current level but to develop the language ability as one of my primary skills." But there always ends up being a trade off where I don't have time to gain greater knowledge in my field or develop other skills. And from my brief 6 months in China I also noticed that so many Chinese speak excellent English. There really isn't a need for a company to spend the extra money on my wage and benefits so they can utilize my language skills when they can much more easily and cheaply find a fluent Chinese English speaker.

Having said that I would never say it is not worth continuing to study the language. It is still very valuable. But is it worth the time and sacrificing the development of other skills to become fluent? Unless you want to be a translator I don't think so.

So for someone like me, too old to become fluent without sacrificing my other skills but young enough to develop language skills as part of my full skill set, I think it is important to continue studying the language on a regular basis. Making sure my ability increases but not sacrificing the whole range of skills that will be necessary in business, government, or any other field.

I still think it depends on what you want to do in China. If you are there to produce or buy products, then you don't need to speak any Chinese at all just know your price and trust your supplier. If you want to do sales work, R&D cooperation or more complicated stuff then you better get started learning Chinese now.
If you what to run a company, then the choice is: do you want to learn how things run by yourself? or do you build a filter around you that tells you what's happening both ways work.

Still I took the long and hard road of learning putonghua, so I get to choose what I want to do in China, because it all about possibilites.

Learning Chinese is essential for getting business done in China. How are you going to get the guanxi, business relationships or an edge over your competitors. Subtle cues and business decisions are based in Mandarin, having a translator does the job but its not personal enough.

I agree that Chinese may not help some in their careers now but its of great cultural importance to their families or self which broadens their skills and knowledge of the most populous country on earth.

one positive factor I found in chinese people is that they really help when some body is serious about learning their language..They will just do not think of making fun of him..IT 's really nice of chinese people..

how to speak Chinese

As an American, I feel ashamed when I read this coming from one who has been overseas and should know better. Language IS culture. Just because you can eat Chinese food and get around by speaking English doesn't mean you have learned about Chinese culture. Each language contains a unique worldview, a different perception of reality, and citizens of every country need to expand their horizons. If you settle for speaking English, you might as well stay home and watch TV.

I think the way Western people think about this issue can be summed up as follows: you don't want to learn Chinese, get out of my fucking country.

I learned English at some point as I wished to live in the US. You, (pointing at any non Chinese speaker living in my town). You fucking learn too.