Retail
January 19, 2021
China’s rising national debt levels will eventually hamper economic growth and create a market with less disposable income for luxury. Image credit: Shutterstock
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","iv":"92bcab4ba63d6e2f45a6827fe9ccef78","s":"7a9ad188e2ca15d1"}
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