Why the Chinese Worship Money More Than Americans

(A Theory) Autumn Column: Why the Chinese Worship Money More Than Americans

The whole world, including China, for various reasons, has always had a special impression of the USA. The belief in American society is that “money has the highest value,” and Americans are greedy in nature. However, according to a recent opinion poll by a well-known international survey company, Ipsos, this is a completely wrong perception. The fact is that Orientals value money more than their Western counterparts. Developing countries love money more than the developed nations. The Chinese, who embrace both characteristics, are the real money-minded people in the world.

Among the interviewees of over 20 countries, 57 percent recognize money as the “best validation of personal success.” Among the Chinese there is a higher percentage than the world average that agree with the statement, reaching 69 percent. Korea is similar to China, followed by India and Japan. Surprisingly, all interviewees of Western countries have a lower percentage than average in agreement with this statement. The USA stands at 33 percent. In other words, 67 percent of Americans do not agree with the statement, just the opposite of China.

It can be discovered in observation that the people of developing countries recognize money as more important than those in developed nations. It is not difficult to comprehend. Central Europe, Eastern Europe and China are all transitioning from centralized control to free market mechanisms. Their people suddenly see a lot of money; their personal desire is released from the country’s grip, creating a passion for money. As the social system matures, this frenzy will subdue.

Nevertheless, there is a strong relationship between money and culture. Even in a modern society like Japan, money ranks highest in the Japanese personal value system. China is a developing country, and thus the Chinese people naturally have a special feeling about money. Their love of money is far stronger than that of other people in developing countries, and this has to be understood in the context of culture and history. There are two discussion points here: Chinese society is more egoistic and secularized.

The former seems to be against the norm. In past years, many intellectuals have always blamed the Chinese for knowing the country, but not the individual self. However, 100 years ago, Mr. Leung Ren Gong and Dr. Sun Yat Sen complained that the Chinese only placed priority on the individual self and family, but not the country. Hence, China was like a heap of loose sand. Their opinion was closer to historical fact.

Modern Western society evolved from feudalism. The main feature of feudalism is communitarianism. From the 16th century onward, Europe transitioned from feudalism to monarchism and finally to the constitutional system of capitalism. People always say Western culture is individualistic. This is basically true, but the feudal concept, habit and system still prevail in modern Europe. For example, constitutionalism originates from some of the feudal principles; the labor movement and the social welfare system also evolved from the communitarianism of feudalism.

On the contrary, China’s feudalism ended with the Qin Dynasty. Monarchy, bureaucracy and prefectures began to appear. Under this system, every one was equal even though the legal system was not quite fair. Land and property belonged to individuals; society allowed wealth generation and distribution through market mechanisms. In light of this, the fundamental units of Chinese socio-economic activity are the individual and the core family, made up of individuals. Hence, the Chinese are individualistic.

The history of feudalism left the Europeans with communitarianism, whereas the long history of monarchy, bureaucracy and prefectures make the Chinese deep-rooted individualists. These two ideologies definitely create two different types of personal life aspiration and attitudes toward money. Communitarianism encourages people to respect the common system so that all members of society can enjoy the best — both constitutionalism and socialism have this orientation. Individualism, however, allows members of society to prove themselves; every one is trying to exceed others in an apparent way. Power and money are the symbols of success. Individualists must be materialistic and money-worshiping.

Nonetheless, religion has a role to play in influencing attitudes toward money in both Oriental and Western societies. The traditional moral system in both Chinese and Western societies has been tremendously eroded in the modern history of secular transitions. However, the religious system still prevails in Western societies and somehow guards against the strong current of secularism. In China, in order to attain the goal of modernization, many Confucian believers had to give up their ethics, and even gradually erase it from certain aspects of culture and society. With long-term efforts, the mainstream of society and its ethical system collapses.

With this mentality, the Chinese became commercialized. Beginning in the mid 80s, money became the most admired object of the Chinese people. The slogan of “time is money” can be considered the landmark of the money century. Money has the highest value in society.

Such values create the modern era of prosperity and even lavishness. Nonetheless, de Tocqueville pointed out that individualism and materialism have their own dead ends. As every one worships money, with the exception of a few super-rich people, every one is dissatisfied, anxious and unsettled. The rapidly widening gap of wealth inequality also leads to political and social instability.

For the past two thousand years, China’s cycle of political instability has been a by-product of individualism and money-worshiping.