The cycle rickshaw, which is a variant of a cargo bike is quite common in Asia. The price for a new one ranges from $100-500. Meanwhile, a bike with elongated rear rack, e.g., a longtail cargo bike (barely counts as cargo bike) can cost $1,000 in the West, and that is the entry level “cargo bike.” A front load cargo bike costs $2500 and upwards. An Urban Arrow ™ cargo bike can cost a whopping $6-7k.
The west likes expensive toys, Asia likes stuff that just works. Look at the picture, that thing looks like it was improvised in an afternoon and repaired twice a month for the last ten years.