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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irZm9UDJ8gQ6tXE9SQBaOa7MZIbPEALGBKCtbqAos\/NpfduHeJFld6OEP3emBgI9Kf5bfiT\/6kcvA2leYY5XIMF\/gCBN3LQlI9hxdjGIjR7ilbBssWufDpfvdLxpl8lmy3yVtYOrmliTy5K6poLEQN6FLmstS5nZKmcCHtv37Bh+vo5EL0GfOMlfVtjWfmLOIgo5jUUyZRij9Y7oKZufMB374fV9EekI7E7IXMOOpm0XQ9Y+M71BJuAtuwDoLpvDxjuCpVSISYQ1U2c8xjgzSVzkeqZRSDeK4KGB9ol20chgYq+6EtK\/NsCs2JTgbjbAcREYYSXo9ppAV88yApbRAJab6W8stH2RyxwGRxLsG+Yf3oSyXxYK5G1\/H0W7h85I\/9tOGtvbBu7IH1063tzjDQPaIzpbkkl1Z8Rg89jrQKWrMEErPx2\/8HiLjCeDQbgqMeSBIYfkBZlvsTOzqfWV64gzUSxV\/VjCi8Is8WQvUsqWS+yY5V1yISgOXcNst7bxOmGPp5i43S72IEBqgvcD\/RGGkEZyMFQNvFC2F76Fv8v+VJ7QATfJuyOtsuXiwb4Q5+2PbSDq60QkDcdBrjSM\/VAdC7BWqpgSHWMInlUCFJj48OXr8pcoubG6TwEMG68Bd7BwDKxFXyiMeP8X8oKaBI1Atm2lFBYz1j8FG6YfMXW3nYXYIxGk2RaVtcOBB1aflUunvRLTfcsAjfVjSPJxrcwOlvH\/BaiWgjetCRzb5kpCUAoatzEyXJlx48utmVRXRN3szXhkeXp4OD2F9JQc5PiBNUJAuFp23up0KTrPu34sMCfCXQ72vMDpMUL5XkepqH887\/17zFn8Fqz1g4wJKm0bgdYgCeG6mVWFzXrqhGNcJm60hIPVXI+eEgb5joGSKrzhT7+68MA3Z6j2J74DHZ8jh8lF5MSZhpH92xzeGshOPdk5DiYtlq0g+Tn\/goZm3sw8dClQ0YBrr9v0kYqxasbJtIi6ufjM6ho\/\/aNRLu5wWGpDZdPPzxoRLGeTcr11ToYzIjh9eMRpYUp4V8bDbSACmVEDv9tt\/Qyh6CapQNrDZrDDuOVFHnKJ2zQWVI9oKKzgIwISihZXK4Ry5dNX3mU+CjMA1oBTF4JETY1XsW1p3cHn5X\/sb3LkrLKHbUdrljaiSuDSNTMCkGJdNgURBLlWzj8la\/V9aBDrUgXaQKDiTsscBAkhRepJ8kLRtmGTQ5g9cUrD38b8VvB28WBuFmFY0CkTt0O+N6npOgk1qxKmOZ6n9igCT5oAnj3kTF3yYh84+Yv82t4Sks24CMDovcb8wx9zYUjabCjbwt+QsG3c0QO81n0zKCc+DQZSclKH8144iJfyKeSIOcDWhWms8R0TJ\/qf48kXLiY\/uPuamfuRwFpnS7ZWRgeLlDADZLPqYzJ3aONYf09fzM1T7n5eh3z5nsPE61Yhe6ey1IKO12aqTyqQnHv2koQF\/qbUBapwLtzGHp9GUmZH5Iz8uJYnWpj6Rso9nhx40VxxV5QLpI6E8XoDeFZ2qPRFG3gfpEk4EU9ffYftIKbaFiYKa6L2xd7XI4xSQaLfLf3Z1R6ojcv8GT9W+QRylPz+d7iSEJi0MbB+cp1mGad8MTpE+Vyoa\/zbfnpkti+x5Yfmr+DezLhirDzEEbUpmkF5ttghDoNmBRbdzv1ByZiwyE0krRyt5kvG2fQR5pm9jPrwv3KDZYS\/GJf5X54euXZy9P8iR5OZ0vccw+kSasb8i5PZgYw7cATOq3bIeh4wvZzCGjkv9vuiYcFtzBdh447gpIo7D0TICvxlZAnaeW+NNIVElyQJjRMhPXpDOwTctEy+16VxvGTbwHXs1oeoI0sXnfDqUQYBeiGHCrH4xfiGGEdi1SITjn0OMkZKPK\/5OEOmUgDysk9z4u3\/vzJj59tCN5UJgy6OwVChFsQWuf\/Gm4vzsLCwVc+GUgTNlGFtExNi3ZqJCJVRJwpU5Vzw9cQmaYJ\/TGKI7uDtTnGQYywWzeyg4krNpGpqi8SOhml9O97jw0X5+AzLS88SreQD4cnJiC4e0wEAvYqOlb9nucSqzo6HJOLxyjdSkCdX44fgSNZRmeE9AnG4uD6lLuWlPGg\/8u6n4ZPZ4StLKJB1yyVJ4xMhyfIZMdV+rGXfYOYVL7mODwVM8NaDd2erw0h6D0l5o1I+aEJP92jcgh05wFS9ubeDzpThS4WhhhkWSoqhY5WjVBFLA4caWYeOK3FcsMPlk5S60Uv5AN6i1PBUJvUUc+GYxsg3wRC9yMjHo54WTEMB255VA+gyvu432HUEjCcY48TKpnENmRW48OJgRVXCkfDD07kbe0\/esq2DR+hYixYtgtIenEoS9O8sU73qhjwiBDVQtlodoKdGBvQfAPOuJptosm8M\/u76i6nBZY8b+cfTCTsUoyBtI4RHEjboZHkzd2R8glbcG5p4E9WYKfkJknfOHn7jpyqpGRXAOWf6DSXaIJhyoUkNRbb5A5cORLjMfqx5Gv6032vOt1JDVGAyXuEvaKpIfaJMf9mu7bidN6Q8q2VVTLgQZ2XzZ1\/rIAxpxUBmWnF5bb5419wP5gADD\/RieIJrCvgoH4D\/C+i05+eTfTCutn0w5bT2NFInaNvhtzMuomNhI2WQU4KkjsvNnSKAmIuz7EUAeaiBnE7VMSOLrHHpxWZ6QOyvJJTMDFtdCdzScxuttmOFSFBYc26mFX9qjCpZBt1VF8LL2QreO\/ieSdpO1Rag\/Bb2B0NmOY4vWjELqCjqYFbPdrXaQ0pH5OXhvB5VOzk6rM0AqectMpaxeGPNwzRvU4s95ep6YxJJDB6MkxhfbjaDwN5FMrs4LNweYadupYC8+dg416wsTuehGotoORh+0frvbmZ2C9fWP2Y2b9HgO4riFB3uG\/2JhozgdJJNqVEsxx5obaRwjgwYSgyOWbFAa1uCUAD\/9rrEpWSoJRG94vTXZ3GQlcKOUvkOKkntXwM9QO3b6+G1Vh6HUTl3LGrHo+bdGNHC0GyBaF9Iww1BUwSeEKAJHY5QqbvwdnTB\/ASk50QR3DQu\/gAyZ+4G7w4yWKZID2WhlKBKmys6LNdmg3UGlkrburgRYTjN2envGA8NGc6J1\/pwl7egtL18DGH00EQSqYuczOhthjmCNHFTC5jEltVeXqVzP9AaD287hGNE\/RzHxBovsBp2L35hpwWli+0HKJUpaLnI6P7+9pfC7bEm3yjl8Il5Jegk4bFXathVFbYVDjmeNWqfDl+5nblewvJZTuC3hc8MoXuU6IHO0kcOZkOBST8dhyvSF9sE1Iir5m6DrfPUYfRtlom0Fo0urKcboW+0fZ3jAsC\/aBS0ehvKBSS2ItKQnHOhdnlM\/AFib4EEQyDf2EhF4M7Aqm328C3C2OeCSvFZI0YtelTrhD1RDHsdgZNo6rkViJp+L84uYTvbEHCgwpkFaOJR95EOKQygyEbkLv+ZXgSHsEjfMHL6eXYts9nnp75HnwEG1qAfZRKKiuE5iKJ+baay\/SahiHvnShhvu9eVoNP9SdawRZMaefM8REi0PVwBzg1dy1Aa42BSuYIA\/QKzXoA8lcjMUI6m22AqCELv\/QGXBXqYijdR7ZFO\/\/b33XBcL1viQOOepP16VGe26wC8cf0Z7tghLnQKDk0jl+sb\/wE9jSLzSdY2vuV5bSsd0cKyKsQTIRranrsnWeDBmjJwc6xKGxIGVPNYtc5DpR95HJMBiL\/mM1s0rFPCXz9hPLxPi6fu3hCk1pOK7zcG8MaKHmEXR9e4+LaUmAGrvF+qx+9mI2RHP7ZlH8kcYIjBg8pkbrhf6ZUmKs\/MJIocMkbsDCb+HDlMmgmIzhWvtHbybJ+ln6I1UQSsIqRLxEB+sDAerdsIkdtT9pckbF7P5QjAu2nu0UPZ4bpIStTYXfw+xrCVHeq8G3HFfksXakxDtQQAtcP8qUeE0KlAilN+Q\/D9cYBEl5+D+ukcGV3ZbiXrrPz\/dTL\/ttpuvJJ2OTBQtBqQLgmrpZsgduY8ESs3ySiuMgHgTK26pKwVM=","iv":"86a6d47209bb598bc743d914e156344a","s":"3a4b4d3f18f44a15"}
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