Why don't you list something else?

no one in China has to drink starbucks each day and wear northface outfit. These account probably less than 0.000001% of chinese spending habit. There are tons of cheaper and locally made alternatives.

The only problem is housing, price to average income ratio is more than 10, which is outrageous in your trained western eyes. But then again, Chinese parents normally chip in a major portion of the cost which you don't see overseas. Nonetheless i agree housing price is too much, but it is driven by supply and demand, too many people with too little place to develop.