There is a Chinese term that literally translates into "saving face". It's deeply rooted into the culture. It's essentially the social custom that if someone provides you with hospitality or a gift, it's your duty to return the favour equally or better than what you were given to save face. To not do so is a faux pas and suggests that you are economically and socially inferior. How this has translated over the centuries is folks spending more money and resources than they can afford just to keep up with the Jones (or to be more accurate, Wong's, Chan's, Li's etal). This explains why you see a lot of Chinese with flashy cars, big houses, gaudy bright gold jewelry and the latest in techno gadgets. It is also explains the importance many Chinese place on their kids having the "respectable" jobs such as doctor, lawyer, accountant, engineer.
"Saving face" was definitely an important cultural element to my parents. While they were generous, they always managed to live well below their means. They found the flashing money part very distasteful. I remember at a party about 15 years ago when an old acquaintance of my Dad's arrived late and made sure that everyone saw him pull up in his brand-new Mercedes S-Class. He started talking to my Dad and ask him to guess how much he paid for the car. My Dad new it was in the six figures, but answered "I don't know, about $40,000".
