^
Actually, although the fact that China has many billionaires is true, people buy those expensive toys for their children with far less networth.
Due to the single child policy, it's more common to see 1 single child in the family. And if the parent is fairly well-off (with net worth over 10M and around 1M in yearly net cash income) They are willing to spend almost 100% on their child.
My friend who falls in that category, his family is probably around 10M mark, but his lifestyle here in Van is totally lavish. Easily exceeding 10K a month with his car lease, rent and expenses. | 