I think it is rather the result of money printing, and particularly how it was introduced (financial system). Plus labour shortage for highly educated people wh

I think it is rather the result of money printing, and particularly how it was introduced (financial system). Plus labour shortage for highly educated people which drove up their salary. As a result all the activities of the upper middle class have known high inflation: expensive restaurants, prime real estate, art, college tuitions, etc. [edit] I guess also the explosion of the chinese upper middle class should also be a big factor.