Not much of a difference between US and China?
In Xiamen, where I live, you pay now US$ 4000 - 7000/m2 when buying an apartment. There are almost 4 million people living in this city with a BRT (similar to a Metro, but with buses), thousands of cheap buses and taxis, a Metro system in development, but still there are more than 1 million cars. Mostly foreign. Import taxes on cars are high. That means if you see a luxury car, you can triple the price you have to pay in the US and you know what they paid here. Doesn't stop them from buying Lambos, Maybachs, Ferraris, etc.
You can't imagine the development here. 20 years ago, there were no private cars.
I've seen the changes. I've been living here the last 8,5 years...
Of course there is a difference if you look at the country side. American Farmer vs. Chinese Farmer for example. But China is taking over...don't underestimate them.