How do Chinese People Stay Out Debt - C.R.E.A.M. - Dolla Dolla Bill Y'all

The Wu Tang Clan must have been singing about their Chinese roots when they released C.R.E.A.M. (Cash Rule Everything Around Me) because most Chinese prefer to deal in cash. Chinese people truly dislike borrowing money and being indebted to someone because it is embarrassing and it makes them seem weak. There is a general mistrust of credit among the Chinese which is exemplified in these Chinese proverbs:

"A good debt is not as good as no debt"

"Free from debt is free from care"

Another good reason for exclusively using cash is the power cash has when haggling and negotiating prices for consumer goods and services. Chinese people can't resist bargains and discounts so naturally they would gravitate towards cash (Try bargaining with a credit or debit card). A third reason is that many Chinese immigrant workers get paid in cash, so in order to avoid leaving a "paper trail" come tax time, they solely use cash. If they use credit/debit cards or checks, it is easy to figure out exactly how much they are spending.

I am sure there are many other reasons but whatever the reasons, in the eyes of the Chinese, Cash is King.

Feel free to give other reasons why cash is used so much among the Chinese in the comments section!