Calling somebody cheap used to be an insult, now there is Clark

That is the radio advertisement for Clark Howard's radio show.

The meaning of cheap in the English language is actually changing. It is gradually associated with smart-consuming. Whoever is not being smart with his/her money will pay dearly.

I don't really think there is a need to fight back. Chinese do have a way to accumulate wealth that few can compare with. Of course, there will be jealousy.