By on April 12, 2016

UBC Lamborghini Aventador

That’s the sound of a sad trombone playing.

Dodgy offshore tax havens get a lot of press lately, but what about mass movements of capital to friendlier shores that hide in plain sight? The New York Times has a heartbreaking story today of young Chinese adults in Vancouver, Canada who just can’t figure out what to do with all that cash their fathers earned.

They do know one thing it’s good for: obscene quantities of ultra-high-end cars.

Like a lawyer talking about his new watch (which costs more than your friggin’ car, maggot!), these kids know how to show off their coin. Designer clothes and electronics are nice, but this People’s Privilege Army knows that a Lamborghini, Bentley or Rolls-Royce in your university parking spot makes a bigger splash.

The west coast city — or living bank vault, whatever you prefer — has become the go-to place for affluent Chinese businessmen and officials to dump their money — and kids — into high-end real estate. Foreign ownership of new condos rose 95 percent in Vancouver over the past five years, according to the Canadian Mortgage and Housing Corporation.

Tossing your money across the Pacific means the all-seeing Communist government back home can’t confiscate (or discover) their earnings, but the trade-off is a city where an average home sells for $1.2 million (USD) and there are 18 year olds in Aventadors and Continental GTs revving at every stoplight.

They’re known as “fuerdai” — a Mandarin word that essentially means “young and affluenza-afflicted” — and they’re pushing registrations of super-luxury vehicles through the roof.

The members of a local six-figure car club are 90 percent Chinese, and young enough to be carded at any bar.

“They don’t work,” Vancouver Dynamic Auto Club founder David Dai told the Times. “They just spend their parents’ money.”

Ground Zero for all the rolling excess seems to be the campus of the University of British Columbia (one needs an education to take over daddy’s job once he retires/gets arrested/croaks, you see). Student parking lots are normally filled with rustbuckets and wheezy hand-me-downs, but this campus boasts enough glitz to put a Monaco yacht convention to shame.

There’s even a Tumblr page that documents the sightings. Cheekily titled “The University of Beautiful Cars,” the social media outlet carries the tagline “Struggling Vancouver students need new Porsche.”

One of the student commuter cars pictured on the Tumblr page clearly belongs to someone interviewed in the article. Jin Qiao, a 20-year-old student who couldn’t say what his father does for a living, boasted about his two Mercedes-Benz SUVs and Lamborghini Aventador Roadster Galaxy, the latter done up in an interstellar-themed wrap job.

Well, that’s gotta be it at the top of the page. The photographer pointed out that the Lambo carried a “new driver” sticker and had a parking ticket under the wiper. Bummer on getting dinged by the parking cops, man.

Money can’t buy you happiness or fulfillment, but it can buy a gigantic pile of nice stuff. And European luxury automakers need to put food on the table like anyone else.

This song goes out to the fuerdai:

[Image: Matthew Harty/Instagram]

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78 Comments on “When Your Lamborghini Doesn’t Hold all Your School Supplies…...”


  • avatar
    28-Cars-Later

    “earned”

  • avatar
    energetik9

    “The west coast city — or living bank vault, whatever you prefer — has become the go-to place for affluent Chinese businessmen and officials to dump their money”

    Having grown up in the pacific northwest, Vancouver has long been known to have a large Asian affluent population, to include Chinese and Taiwanese expats. Granted there is likely an influx of nouveau riche Chinese wealth, but this isn’t a dramatic shift. Chinese-American friends of mine used to talk about this back in High School.

    • 0 avatar
      VoGo

      The surge preceded the handover of Hong Kong in 1998, as local wealthy Chinese feared the Communists would confiscate their wealth.

      • 0 avatar
        Lou_BC

        VoGo and energetik9 – correct on both counts. It is hardly a new phenomenon.
        The problem for those who already have homes is the temptation to use that “balloon” equity to finance a lifestyle beyond one’s means. We already saw the results of that phenomenon in the USA. Us smug Canadians tend to think we know better than our American brethren and convince ourselves that the same sh!t won’t happen here.

        • 0 avatar
          dash riprock

          canadian underwriting/lending guidelines were never close to what was seen in the US in the 2000’s.

          Since then lending rules have gotten tighter and tighter dictated by the OSFI.

          Maximum loan to value on a secured line of credit is 65%.

          Maximum refinance is 80% loan to value.

          Not that I think the Vancouver market is sane, but there is no comparison to what was occurring in the mortgage market in the US.

          • 0 avatar
            Scoutdude

            What about the LTV on a purchase? That 80% ratio on refi sounds like it is intended to keep a lot of people out of the market and a slave to the mortgage holder when rates drop.

            However it certainly is true that many people have lost their homes because they used them as a cash machine. All too often when looking at foreclosures that are coming on the market now I see that they were caused by the home as a cash machine syndrome.

            Too often when I look at the public records of the liens I see something like this. Purchased the house in say 2000 for $200k and they did so with a 5-10% down payment. Then in the mid 2000’s they did an 80/20 refi and ended up with 300k-350k in debt.

            It can be quite fun to look at the street view maps and see that all of that equity went into a motorhome, boat and/or car(s) with a luxury name plate.

          • 0 avatar
            Lou_BC

            @dash riprock – valid points but “Maximum refinance is 80% loan to value.” is still a problem in a bubble market.

            A house in Vancouver that was market appraised at 600k 10 years ago has doubled. 80% of value is huge. A market correction will mean the loan is still worth much more than what the house is worth.
            A friend of mine used to be a financial advisor for a major bank and his father was an executive for the same bank. They both feel that people are going to run into trouble by using their homes as a cash cow. It might not be as bad as the USA but the potential is there.

          • 0 avatar
            onyxtape

            Financing / LTV guidelines are irrelevant when most of these houses are being bought with suitcases of cash.

          • 0 avatar
            Lou_BC

            onyxtape – I wasn’t referring to that demographic. Many are using the artificially high equity in their homes to live like the “suitcases of cash” crowd. Those are the ones heading for disaster when the bubble bursts and jobs are lost.

      • 0 avatar
        dash riprock

        Same reason now for the most recent flood. except this time it is the mainland residents moving their money over to ensure it does not get locked in by the Chinese Gov’t. What is hard for North Americans to really understand is that they are willing to overpay for real estate as it is lower risk than losing it all back home

      • 0 avatar
        heavy handle

        It’s new to the NYT, not to Vancouver.
        I really don’t see a problem. The car is parked properly, which means the driver is in the top 5% of all West Coast motorists. Not an easy thing to do in a Lamborghini.
        the real story is about journalists who exploit our fear of different cultures. Vancouver’s had a large Chinese population for over 100 years, but they didn’t have money back in the day.

        • 0 avatar
          onyxtape

          Search for “Richmond Learns to Park” on Facebook. You’ll have hours and hours of fun and horror looking at all the possible parking jobs that can be done mostly by an “unspecified ethnic group” in metro Vancouver.

        • 0 avatar
          Lou_BC

          @heavy handle – there are always those who blame “foreigners” for our woes. It isn’t just Trump that plays upon xenophobia.

    • 0 avatar
      tekdemon

      Yeah I really have to say that I’ve visited Vancouver and these articles always make it sound like there’s literally bajillions of luxury cars all over the place but in reality it was like a nice city that was decently walkable, had nice restaurants, and good parks and outdoorsy activities nearby. There were a lot of people of Asian descent, but not just Chinese people, there were a ton of Japanese Canadians around too. There’s certainly a part of the city that’s more heavily Chinese with a lot of malls with really great Chinese food, but whenever I’m reading these articles they always make it sound like it’s some hellhole being invaded by foreign hordes. Honestly, being from the NYC metro and living in a pretty pricey area I see Ferrari’s and AMG’s on a daily basis though oddly the worse driving is almost always by BMW owners no matter how old their BMWs are. I’m not sure all these people earned their money the hard way either but I don’t go and write articles about it making it sound like wealthy people are some sort of scary plague.

      While I’m sure the skyrocketing real estate prices are a serious pain point (one that NYC also suffers from badly) the reality is that it’s foreign money flowing into Vancouver via the real estate industry, I mean it’s literally pumping billions of dollars into the economy as they construct more buildings and then there’s all the realtors, lawyers, banks, etc. that are involved that hire people. And I’m sure all the people selling these kids Lambos are making decent commissions, the guys overcharging for a car wrap, etc. Complaining about foreigners dumping money on your city is beyond ridiculous, if housing is too costly there’s easily ways to structure it so that existing residents have affordable housing while still benefiting from rich idiots wanting to overpay for real estate in your city.

      Honestly, grab the money while it’s still easy to get. Once the Chinese clamp down harder on shady currency outflows and corruption that money will go away real fast. Get it while you can, and sell as many Lambos as you can.

      • 0 avatar
        Stumpaster

        First off, this article completely lacks any point whatsoever. Seems like just a simple click bait article. But if you compare NYC and what they say is going on in Vancouver, the difference is probably in that over there on the left coast they are talking about children, under 25, driving the most ridiculous cars. NYC is not like that.

        But I am still missing the point of the article. I mean, if they went one step further and correlated the names of these children at Lamborghini party with the names of their parents in the Panama Papers, then at least we would have something interesting to chew on. Without that, I learned that there are really rich kids with really poor taste. OK, got it, thanks for being so Truthful About Cars.

      • 0 avatar
        Scoutdude

        I’d love to hear how you think things could be easily structured to that existing residents have affordable housing while still benefiting from the foreign investors in a meaningful way. Fact is that in the cities where the foreigners seem to like to buy you need to tear down existing building to build a new one. There isn’t a lot of inner city property that hasn’t been developed.

        So you take that once affordable modest house and pay twice what it would be worth as a house to put up a high rise condo or luxury house. For the owner of said house it is hard to not take the windfall and move on. Of course it is not just because of foreign investment. Currently in down town Seattle you see a lot of complaints about the Amazonification of the area, particularly Capitol Hill that had once been at least somewhat affordable.

    • 0 avatar
      onyxtape

      It’s much larger in scale and magnitude, though. Previously, the wealth came primarily from Hong Kong as its citizens feared the handover back to the Mainland. Hong Kong is a city with 7 million people. It was large enough of a cultural shift / phenomenon (nice cars, large McMansions springing up) that there was a National Geographic story done on it.

      The last decade or so have been primarily Mainlanders as opposed to people from Hong Kong or Taiwan. The numbers are large enough to offset the previous decades of immigration – as evidenced by the shift of language to Mandarin from Cantonese that you used to hear everywhere in the Chinese enclaves, to the dwindling number of Cantonese cuisine restaurants.

  • avatar
    GS 455

    Give the kid a break. At least he parked the Lambo between the lines.

  • avatar
    balreadysaid

    Who can f who the best is how that money was made. Not much different than what your unknowingly used to..

  • avatar
    BlueEr03

    Does that car still have the dealership license plate frame?

  • avatar
    Greg Locock

    and what brought on this little nugget of borderline racist envy? Damn furriners drivin on yer roads? Kids today?

    TTAC the Tittle-Tattle About Chinese kids.

    • 0 avatar
      Chan

      It’s kind of important when foreign money is buying out your community. Unless you think $1.2M for an average house in your city is part of a normal, healthy and sustainable economy. I certainly don’t. So, does it really matter where the kids are from? No, not China in particular. But the fact that they aren’t local and do not contribute to society does matter to the people of Vancouver.

      • 0 avatar
        Yuppie

        [@ Chan] I have seen multiple real estate booms attributed to “rich Chinese immigrants” [albeit generally expressed less politely], both in Vancouver and in Southern California. First, no one forced the original owners to sell. Second, the Chinese living in Vancouver do contribute to society. There is the investment-based immigration, and do you know how much money the government of British Columbia makes from all the casinos in the Greater Vancouver area?

        The economy of Vancouver is just not that big. So the problem with your premise is the Chinese immigrant kid cannot win. If he just lives there and spends mad money he is “buying out” your community. If he “contributes” to the economy by getting a job he is taking the job from locals.

        • 0 avatar
          Scoutdude

          A lot of the Chinese that are buying real estate in the greater Seattle market are not immigrants, and they don’t live in the properties or even rent them out. They buy them thinking that they will appreciate. In fact this weekend I was talking with a friend from the Greater Vancouver area who still has family who says that buying and sitting on the property accounts for a lot of the huge price increases they are seeing. Some of them do sell them after 6 months to a year and at this point are actually making some money on the deal. Of course it will all come crashing down soon.

      • 0 avatar
        Superdessucke

        You mean you don’t think the Chinese will continue the gov’t handouts to support the shiftless once they take everything over?? C’mon.

      • 0 avatar
        Stumpaster

        What do you mean do not contribute? They spend way more money than the local earners. And they spend it on local businesses. You want them to leave? Build affordable housing in their neighborhoods. It’s a win-win!

    • 0 avatar
      Kenmore

      They’re just over here blowin’ it out before having to go back and face baba, mama and the Confucian family prison.

      Plus, when they get back home they may be getting a dose of reeducation from a government nervous about their flagrancy. Ordinary Chinese hate them even more than we do.

    • 0 avatar
      Von

      It’s no more racist than hating the affluenza kid.

      • 0 avatar
        Yuppie

        [@ Von] You mean, other than the obvious fact that the affluenza kid killed several other people while driving drunk, whereas the wealthy Chinese kids in Vancouver have parked badly, held up traffic, and caused fender benders?

        • 0 avatar
          Von

          Yuppie, there are many cases of Chinese international students crashing expensive cars, not only in Vancouver, but in many of the major metropolitan areas in the US and Canada. There was even an infamous case where the parent flew from China to post $2M bond for the kid, in cash.

          The mentality is very similar.

          • 0 avatar
            Yuppie

            [@ Von] True, especially given the narrow streets and low speed limits in Vancouver, plus the high horsepower of the vehicles at issue.

            Nor do I disagree that many, if not most, of these kids are very, very spoiled. I grew up in Vancouver, and every time I go back to visit my grandma and take her out to dim sum I wonder why there are so many young and working age people ahead of me in line on a weekday. Perhaps they too are just visiting Vancouver, but for a longer time.

            However, I must take exception to your allusion to the affluenza kid in what appears to be a justification for racism, when the rich Chinese kids’ offenses mentioned prior to the $2M bond were the ones I listed. I think we can all agree there are fairly clear lines between bad driving, reckless driving, and drunk driving, albeit not quite as clear as the lines demarcating a parking spot.

          • 0 avatar
            Von

            yuppie, you have a terrible idea of what is racism. Just because I don’t like meth heads don’t mean I hate white people. The disdain for a behavior is separate from the disdain for a race.

          • 0 avatar
            Yuppie

            [@ Von] No issue taken with disdain for bad parking, holding up traffic, fender benders, poor driving, or gauche display of wealth.

            Only issue with your suggestion that rich Chinese kids deserve a level of disdain for the above acts comparable to that shown to affluenza kid, who killed several people and then bragged he was untouchable. If not racism, what else drove your suggestion?

          • 0 avatar
            Von

            Ok Yuppie, this is my last reply, you are entitled to your own logic and opinion, however flawed they may be. Just like you seem to think MTV and hip hop is to blame for bad behavior, instead of lack of parental guidance and basic life skills. Or that language barrier should be a real issue for someone that’s supposed to have taken language exams and deemed qualified to study in the US at a college level, you know, where they have to study in the local language and all. But you keep on thinking that.

            And really, I already answered your question, it’s the mentality. I really couldn’t care less about bad parking and showing off, they are minor annoyances at most. But there are thousands of these kids across US and Canada, say 18-22, driving super cars, how often do you think they will be speeding and showing off? You said yourself that they are “very spoiled”. Maybe life is different for Yuppie, but where I’m from, spoiled kids tend to do stupid things with toys they didn’t earn. It’s only a matter of time before they cause a major accident, and indeed, there have been several cases already that I’m aware of, and probably more that I am not aware of. The 2M cash bond case being the one that sticks out. So yeah, I do have a high level of disdain for these very spoiled kids that are just ticking time bombs for traffic accidents. I also happen to have the same level of disdain for gangsters, meth heads, thieves, and other criminal behavior that cost innocent lives and places an additional burden on society. I guess if you still think that’s racist, that’s fine with me, it’s also pretty fitting logic given your username.

          • 0 avatar
            Yuppie

            [@ Von] MTV hip-hop video reference was a joke just to see if I can provoke someone else to answer: “But the artists in these videos have earned it!”

            Language barrier is an issue regardless of exams on language proficiency, which are mostly written, whereas human interaction relies more on spoken communication. And as many others have pointed out, U.S. universities are relaxing their language proficiency standards to chase the foreign tuition dollars.

            Understand and agree with your point about disdain for spoiled kids’ mentality; just don’t agree that rich spoiled Chinese kids driving supercars, as a group, deserve the same level of disdain as that deserved by the affluenza kid, as suggested by your first comment.

  • avatar
    Jagboi

    It’s the only place I have seen a powder blue Aston Martin with Hello Kitty seat covers and the L sticker on the back indicating a learner driver.

    There is lots of high end metal in Vancouver, but I hate driving there, it’s a scary place.

    • 0 avatar
      Lou_BC

      Jagboi – agreed. I feel safer there when driving my pickup than when I’m in our minivan.

      • 0 avatar
        Jagboi

        Try going there in a classic Jaguar for the All British Field Meet at Van Dusen, and watch the clueless Chinese person in a Range Rover drift into your lane! Terrifying and oblivious drivers.

        At least my Jag has 4 wheel disk brakes, but they are 50 years old and the car is on 185 tires…

  • avatar
    never_follow

    Recently moved to Vancouver. From a vehicular perspective, it’s both great and terrifying. All those 80’s Japanese cars that disintegrated in the rust belt are still dailies here! Unfortunately, they all have road rash from the absolutely terrifyingly bad drivers that seem to have congregated here.

    The roads are fantastically fun (especially the Sea to Sky on the rare sunny day), but traffic will be stuck behind two turtles doing ten under, oblivious to the world in their rearview.

    Housing is ridiculously expensive in the city, and until recently, the government buried their heads in the sand (all three levels). We’ll see what the future holds, but as it stands, industry and the city will be gutted in 20 years when there is a missing generation.

    • 0 avatar
      Lou_BC

      @never_follow – Sea to Sky tends to be speed trap heaven. Once you get past Whistler and past Pemberton the roads get really fun. Most of the paved back country roads in that region see little in the way of patrols so are vastly superior for spirited driving or riding.

      • 0 avatar
        never_follow

        @Lou – Agreed, at least the southern portion where the commuter towns are – but if you’re speeding through those bits you deserve what you get.

        I just got here about… wow – 8 months now, so I’m getting to learn the lay of the land, but don’t have my favourite back routes yet. Given I still have my fun car back east and am currently stuck driving the family wagon complete with it’s 2.late, that’s probably not such a bad thing.

        One of my dream trips is driving up to the Yukon. After crossing the continent this summer, I know I can swing it, but just need to find the time.

        • 0 avatar
          Lou_BC

          @never_follow – North to the Yukon from the Lower Mainland is a long drive. I’ve gone up via the Stewart/Cassiar Highway (HighWay 37). There are stretches of gravel road. It knocks a day off heading to Whitehorse. I’ve been as far as Fairbanks. Tetlin Junction to Dawson is a cool road. Top of the World Highway is gravel Highway 9. I went through really late in the year. They weren’t even manning the border crossing. Dawson to Whitehorse via highway 2 is paved.
          I did the trip late fall. The benefit to that is there aren’t as many tourists and as many insects. I did get caught in a few blizzards so that is the negative of that approach.

          • 0 avatar
            never_follow

            Huh. So as long as I’m fine with some paint chips and possibly a new windshield, Highway 37 is the way to go. I do have AWD, so I don’t think late fall would present too much of a challenge.

            Thanks for the tips!

          • 0 avatar
            Lou_BC

            never_follow – a lot of truck traffic on Highway 37. There are stretches where the road is very narrow and some one lane bridges. It doesn’t bother me since I grew up travelling on roads like that. If you go that way you can take a side trip and check out the Nisga’s lava beds. It is an oddly interesting bit of terrain. A side trip to get Hyderized with Everclear in Hyder Alaska for many is a must. The Bear Glacier has an eerie blue glow.

  • avatar
    KOKing

    Vancouver doesn’t have this trend cornered by a long shot. Plenty of that in various corners of LaLaLand, including outside my (university) office window. I’ve met some of these kids, and most don’t seem to take any offense to ‘daddy’s sweatshop money’ jokes about their . Or maybe because I’m 40+ and asian and they’re subconsciously afraid I’m carrying a bamboo switch.

  • avatar
    Verbal

    Publically-funded west coast universities encourage this influx. They will happily take out-of-state tuition all day long over the reduced tuition from state residents. Thinking you’ll send your kids to the local land grant university? Sorry, booked solid.

  • avatar
    stryker1

    Super Cars and Student Drivers, sounds like a god damn shooting gallery.

  • avatar

    It’s a thing in the Midwest as well. The student condo lots surrounding Miami University in Oxford are packed with poorly parked high-end European iron.

    • 0 avatar
      CoreyDL

      There are GTRs, Bentleys and Maseratis in the student parking garages at Purdue as well. My brother was always sending me pics.

      I asked who drove them.

      “I dunno, usually Asian or Indian kids.”

  • avatar

    The timing of this article is uncanny. I just watched a YouTube video about secret Chinese student meet ups to show off all their bling

    https://youtu.be/sH8sSKwS_gU

    I do wonder what they’re majoring in while in college? Parks and rec maybe?

  • avatar
    Johnster

    Now for a senior moment…

    Back in the day, when I was in college, the rich foreign kids were all Iranian exchange students. They actually studied pretty hard and it seemed like most of them were into various fields of engineering, but especially petroleum engineering.

    At that time they dug American iron and they all seemed to have Trans Ams and Corvettes, with a few Z-28s thrown in. The college was on top of a hill and I recall a whole bunch of them stuck at the bottom of the hill, spinning their wheels, whenever it showed. (I didn’t have this problem because I had snow tires and Positraction!)

    Nostalgia. Now get off my lawn!

  • avatar

    Apparently it’s not just a Vancouver phenomenon. Because of higher out of state tuition fees, a lot of American colleges have recruited Chinese students to the point where many of the Chinese students have very little contact with Americans.

    http://www.wsj.com/articles/heavy-recruitment-of-chinese-students-sows-discord-on-u-s-campuses-1458224413?mod=e2tw

    “On some campuses, wealthy Chinese students stand out for their extraordinary opulence—and fuel resentment in the process.

    Ashley Yao, a student at Stony Brook University in New York, speeds to classes in a tricked-out BMW X5 M sport-utility vehicle. The 25-year-old wears haute couture and hangs out with other wealthy Chinese-born university students who drive candy-colored Lamborghinis, Ferraris and McLarens.

    Ms. Yao, who lives in a four-bedroom house her parents bought for her, says she finds it difficult to connect with the U.S. students on campus.”

    • 0 avatar
      Yuppie

      Although, to be fair, other aspects of the non-interaction between the Chinese exchange students and the local American students include (1) the language barrier (duh!) and (2) their different majors: computer science vs. liberal arts.

      • 0 avatar
        onyxtape

        I can assure you the high-end German iron driving Chinese students are more likely enrolled in general business courses rather than anything to do with engineering.

      • 0 avatar
        Verbal

        The language barrier thing is a mystery. How many foreign students have we seen on North American college campuses who don’t have basic proficiency in English? Isn’t command of the English language a requirement for admission?

        Here’s the deal, folks. Wealthy foreign kids pay others to write their college application essays for them.

    • 0 avatar
      PeriSoft

      Pfft. I went to Stony Brook back in the late ’90s, and nobody there ever connected with anybody for *any* reason. Blaming rich Chinese kids for ruining Stony Brook’s campus culture is like blaming a sunflower for the sunrise.

  • avatar
    MinPVD

    There’s actually a couple of reasons for this happening

    1. State schools and even private universities are increasingly accepting foreign students who can pay full tuition. Schools need to pay their bills and education budgets being what they, the money has to come from somewhere. Does it take spots away from in-state students? That I can’t say, but it definitely helps subsidize the remaining in-state students.

    2. Car prices in China are just ridiculous. There are luxury taxes on top of luxury taxes, import taxes, engine displacement taxes, and engine cylinder taxes just off the top of my head.

    I bought a 911 2s in China at the beginning of this year. That car optioned out in the US market costs around 160,000usd depending on options. In China, that car costs can bet optioned up to about 180 wanRmb.

    That’s 300,000usd. Luxury tax, displacement tax (over 3000cc, which incidentally is one reason the 911s are reported at 2994cc), horsepower tax, and import duties.

    Now let’s consider some of these crazy super cars that some of these kids are driving, something with a big displacement v12. The Aventador is maybe 500,000usd.

    In China that car is 800wanRmb. On a good exchange rate day that’s 1.3million usd.

    That’s a pretty big difference. Factor in that there is actually a second hand market in the US and Canada where someone will actually buy your used car and it actually starts to make a bit of sense. You get to indulge your whiny kid for a fraction of the cost of what it would cost back home. Maybe they get it out of their system so you can keep buying yachts and airplanes for yourself.

    In fact, for anyone that understands this price difference buying a car in China is traumatic. If I didn’t know that I was going to China for work for at least 10 years I would have never purchased a car there.

    • 0 avatar

      “That I can’t say, but it definitely helps subsidize the remaining in-state students.”

      Here, I’ll fix that for you:

      “That I can’t say, but it definitely helps subsidize the massive gymnasiums, opulent administrative buildings, and other examples of University bling.”

      At least that seems to be the case here in the States.

  • avatar
    MrGrieves

    I attended a major land-grant university in the Big Ten conference, and given what I’ve seen and heard from my colleagues who are still there, it is completely true that the school is heavily biased towards accepting international students. Given the university’s abysmal financial situation right now, they are more than willing to take the much higher tuition from foreign kids. Internationals actually pay a tier *above* out-of-state tuition, so the university is clearly taking what they can get.

    Of course, this school had a major admissions scandal about 10 years ago, and despite a few heads rolling nothing really changed.

  • avatar
    nguyenvuminh

    Seems like all rich kids have this same phenomenon, be it Vancouver BC or LA/London/Paris/NewYork, etc. The last 30 years have been HK and mainland China. The 70s was the Iranians and Saudi Arabians. Early century was the New Englander and New Yorker uppercrust kids. Throughout the first half of 20th century was the European/British quasi-royalty children.

  • avatar

    Formula for max safe car horsepower for child age:

    ([Age] X 10) – 30

    Thus:

    Age 16: 130
    Age 17: 140
    Age 18: 150
    Age 19: 160
    Age 20: 170

    etc. At age 26, everything opens up.

    • 0 avatar
      PeriSoft

      Man, I won’t be able to get that One:1 I wanted until I hit 145!

      In all seriousness, the only problem with limiting 16-year-olds to low power cars is that low power cars tend to be tiny, and they’re FAR, FAR more dangerous in multi-car accidents. Say, the kind you tend to get into when you’re inexperienced and pull out into the street without enough margin.

      • 0 avatar

        No, see after 26 you’re home free :) Said policy expires.

        You’re onto something about the small car danger, it’s just every kid I’ve ever seen with something that has actual grunt drives like they’re very aware said vehicle possesses said grunt.

        Source: My completely biased anecdotal evidence acquired from life in Gwinnett County, GA.

    • 0 avatar
      CoreyDL

      I liked bigger jumps.

      16: 130
      17: 130
      18: 172
      19: 190
      20: 190
      21: 190
      22: 190
      23-29: 300-310

  • avatar
    stryker1

    If I was a young, Ferrari driving, affluent Chinese expat student, I wouldn’t do anything except walk around the university, tell middle class white students to “check their privilege”, and then watch the cognitive dissonance literally kill them.

  • avatar
    VenomV12

    That’s what I don’t understand about these vapid, cultureless rich kids like the Chinese and Arabs, they spend all their time on social media buying and showing off their expensive stuff and it doesn’t really make sense. If you and all your friends have the same big houses, the same expensive cars, the same expensive clothes, etc etc, who the hell are you impressing? How many Rolexes, or Chanel bags can you buy or own before you have bought everything and are bored to death? At least do something helpful in life and decent like Bill Gates does and Sean Parker just did and do something to help and better mankind before you die instead of just being a useless, superficial twat who just buys expensive sh!t all day.

    • 0 avatar
      CoreyDL

      They don’t understand how to not be gauche. It’s the Chinese wealthy way.

      I’d have a big, old house outside the city with some nice landscaping and maybe gates, and a 4-6-car garage. If I’ve got free money, why not get more space and a nice lawn?

    • 0 avatar
      onyxtape

      Think of it as a membership fee into “the club”. No one questions anything if you pay it, but they sure won’t let you into “the club” if you don’t.

    • 0 avatar
      Lou_BC

      VenomV12 – and our idle filthy rich are any different?

      Gates once decided to get himself a supercar worth millions. He got publicly panned for it.
      To put it in perspective. That supercar’s cost when weighted to his gross worth was equivalent of a middle class person going to the corner store and purchasing a candy bar.

      • 0 avatar

        Compared to the cost of a Gulfstream, a 100’+ yacht, or another home, $300,000 for an exotic car is almost an impulse purchase.

        That’s what’s driven the explosive growth in the $100,000+ car market. Fifteen or twenty years ago the high-end car market used to be about 3,000 units a year. BMW (Rolls-Royce) and VW (Bentley and Lamborghini) figured out that there are a lot more than 3,000 people in this world who can easily afford a big buck car. Ferrari alone sells about 7,000 cars a year these days. McLaren has capacity for 4,000 units and they expect to be at capacity once the 570S/540S goes on sale.

        That’s one reason why I’m not sure that I’d characterize Koenigseggs and Paganis as production cars. They build about a dozen Koenigseggs a year. I bet the Metalcrafters shop that makes concept cars for auto manufacturers makes more than a dozen complete cars a year.


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