You should know that there are plenty of american/european farmers. They have existed ever since Ultima Online went live. They've made millions and continue making millions. They don't speak mandarin, never been to china, and are all too glad that people keep blaming the chinese.
There are firms lead by americans, yes. But they are botting to farm or let chinese people do that. The point why farming exists is the discrepancy between the western civilisation and developing nations.
Let's say with farming you are able to get 500 gold an hour. This is barely worth 2 dollars plus the risk getting banned and losing your account which was 20 to 50 dollars (depending on expansion) plus the monthly fee.
There is no way to an american or europe farmer out there that is able to earn enough money to survive or even to earn millions of dollars. The actual farmers are located in developing nations and are doing the work. Americans/europeans just coordinate many of them and provide the network to sell that stuff. And yes, they are getting the biggest piece of cake for that and because of the amount or farmers they organize, they earn pretty much money.
That's why there will always only be a small market on chinese servers, because chinese players don't have the purchase power to pay an amount that an american would want. There are few exceptions. The top 10000 chinese will be able to pay that price but how many of them are playing wow? Even if there were 1000, how many of them would buy the gold? Even if 500 people would, how long will it take to satiate the market there? Not very long....
Sry for my poor english skills.
In soviet russia, gold sells farmers!
I take two in the morning.
I take two at night,
I take two in the afternoon
and then I feel alright.
I take two in time of peace,
I take two in time of war.
I take two before I take two
and then I take two more