That's some weird ass Asian culture but not unheard of.
When I go out with my friends here in Vancouver, we just take turns covering the bill. Mandatory fight for the bill because Asian, but otherwise, there's no dollar amount being tallied or anything like that. We get together to celebrate our friendship and talk shit about people on RS. Then again, it's like, three or four guys and their spouses, not a huge gaggle of people and $2000 dinners. I should be on BrokeScene.net.
Any how, happy lunar new year, you freeloading elderly abusing jerks!