Marketing
August 31, 2021
Does the latest government crackdown in China prove that the country’s luxury bubble is about to burst? Not so fast. Image credit: Shutterstock
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","iv":"4ea7085b88d0ed3494ef38399be9675a","s":"61262a8664056a76"}
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