Apparently, they're not to be found among the nouveau riches in China:

Attitudes towards luxury are far more positive in China than they are in other rich nations, with 78 percent of those surveyed saying that luxury goods and services are more important in today’s economy. The reverse is true in the U.S. where 80 percent of wealthy shoppers say that luxury has become less important.

More than 75 percent of Chinese say that luxury expenditures are prudent purchases, while 78 percent of wealthy consumers in the U.S., U.K., and Germany find them to be an extravagance. Similarly, 78 percent of China’s wealthy shoppers say that luxury goods and services are an important part of their lifestyle in today’s economy, compared to 25 percent in U.S. and Germany and 20 percent in France who agree that luxury remains central in their lives.

Luxury is prudent… hmmm…. not quite what Confucius had in minid:

The Master said: “Aspiring to the Way, but ashamed of bad clothes and bad food: such a person knows nothing worth discussing.” (4.9)

The Master said: “Poor food and water for dinner, a bent arm for a pillow – that is where joy resides.  For me, wealth and renown without honor are nothing but     drifting clouds.” (7.16)

Drifting clouds….