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Commerce

What does the Chinese currency devaluation mean for the luxury industry?

August 12, 2015

Chinese consumers may spend less on luxury with the devaluation of the yuan Chinese consumers may spend less on luxury with the devaluation of the yuan

 

By Sarah Jones

China’s devaluation of its renminbi is intended to boost the country’s slouching trade, but the impact of the altered exchange rate will likely extend to the luxury industry.

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