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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H8nC64FsvEECfYMzVo15ZPrG5wRL8V9iuB6Nmj5SMz4nRI67uDMsgznkyVQY47PlW0wrv81axOOr12EKpoK9d\/WYRqH10FlM8VPou\/D2jjHDBSoycYsiJRRO4QEGM8kngrFGokEtklKvkf5CxZTDh1rekVGIHTE2SGpxkA4cfjLsryNtqFCnMaSR\/DbmC1+mkcIaAggpIqRHDfzvNb4+cYP7dO3mPOT3qUln7yrfJkcVSoND5uFw9Z3+N2qCNejyXxfYQqav9SmddUuPR+hvZ9tJCxxrL93cUXgI8vs59YAbLlWQ2fF0uNFpHc6B02v4MvjQhWJVcQDqijXo9CnLMnmJhWYMc2Ha7i9EfVf86nnzOYDbuow3Naa5mYtaKQJcCWC5zDLop7wJHCqbS1pa3y6U71D56Z\/Xq6ZmNTnAeUr\/uP\/Lqzznhyyv3mOZ4D+JuVdTqBR4Undz0CCnKxwVR8xhqlx0xkG8EgHqLh28cZTHAo1QQ2nbgfJ5zSi8a2FJBwL4eYxdO3SGtEiryg8GCefVS39aQsJMdcv5oCLea54W\/MI4we0n\/JtaobxkWfc0IJ8xPvBXp7tlI9gBp90KR4pnNuCKBeRGy6n70vOFv9aDCZne8bji8dbkdIa0YsrL0ea2ZxNnfdZ5mEd6+mLywacH9no+rpiVDIYenkRHfFh3fR9j4zkBfGjo+dcvVfvp89w7R1nDDOmhyJva7uQWKLnsRWZyPVyS4LqiivrcvLfWfplj146BryeEDlW9JQr9ZurL9BIS9IVfmCw1VuU2of6dAd42brqHTBorWuWwr1UTO\/R\/FD75keSGSvz\/3TddZDnAdFTsjvVR4qjsA9M9V6kjBv6fSTo7NOgaGrN2A9eaJeqkRcOgflHVCgTxdEmdde4x6jBdM80Q0xd5VteVCMSIJh8FwdP1ZtTgrInGHUmjk6O+YAGmqnOYyypVfQLbQr94B5d\/44c+5iKdY5IZEHZcvj+ix401n79\/ArTwFTSfP67Eohx7q6UP8Y5uhRl1QVsEqKnrKZMFleb1394o\/PHPwJXsz2k\/jKiYf1UyldzkqDhT3b73fE+Pq6FqTSqQEn7+fNiUL86aBnsLv8e9ZBaoCSeprfi9+bVM6n+Yc66mXZWNZjdi1ZmPZg9G2PJ7PZqaCya8gODrQdwBisTzKPD3CfViloemY0W\/93z5+Pmk8GPSqrJt8vUPI+I1jtiQYATCoXZ56D9bRrXgVoIv3k+dxRYpgzQjSkWn2aS\/Qli1aYxC836ul+otU97qkAQYs5E15BUvkMuPG8dIBxTWhVpRbh+2nuZI870oqSy77F6\/qg79qTwdw7Q6JmBs6h+BrmUfpIZw6K\/Dt2m6n0XNUjx4rgpQhUY8\/iOAtVtWP3+HrTBXLCktnyLh7ri5o5Sf\/JotxolR38KEO0dpDUJ74RG1JbMwNncWhqGom6lDLT2omjoPgSoGzJ1c11GDusnG7bfTkvQPoZFNFeyvv88ixEjxyTKdsVGaF2wrDR+yB4bs6DXuLWCoukirPBkZu92IAP+x6kpZjex5NbbVlamquI5UiGpDwr707FdEllE+lHgf+X2h7WcQRMC3u+5SMoIRx0C75of8iwuq2pyvmSMfHTPQOQiU+AAOC5UHDXzmxN6iVi222ca9feYwneNDhJLqU9XgMdvtbWBw1c6AjPOw1F9EyBi0w277GPwTtQYnnvzgeHu+NeHW95YXDNotc8ugW\/DU\/fnYMnoWM5AyZJ0qoCyW0f4tzfBOu36y5wP3z\/1cU7mNzfrdlYqGDaiMPjjk8QVnPIYVyqm7ZXLg1nE8Akk8Jxh\/qTcVnDVkE\/uz5a4ekod5+Z8wh\/PK87q30v6G32Q5BYflDoB7J6ilCPxySXVJY9zQ4yEaA8GbX0JA6EuP8UIy7cRMiM\/mwWUlik6nmfMs8W38Sc5p4VES552GZbtMjZc4030VCcKzRMADgzC0grin1Qek82Ee\/Y6BsSeIkA+eGsM2kqmRlk5XNeHWhRAYBLcg7M1TSB\/7950w0dG2pawYU8q+Seos1u\/5FD1avnzmp9E6MH1cwlPyrx7NtD5tV40QtD850NVHf+6uzAdoE+i0cGS\/LUlif3q5OYEqMAllK8Kmvaw6JEviqLO\/Pf0j\/X4L5hs0UyEPY\/OLw22tfhfqBvXcXluxrFqOuJ9ysAtsUN7Kxbp62V9WJGFYVDBR0OhO4UoUMkTx5F\/7XEJA3zk3qwXja2MJi96LOd0\/tD8USVLlvQgkx3b2LkgJPaR2y+fqWjEWify5pR1AGvu2I\/sQDtmAQeby+qA6943sTzytDwNKmm9eL70hQB2IhhmnCX5NqNOqDVWbAhQvCZ0dd0Tl46\/uwEPxcMK6YsgdhD2jFy78BU2ECKpWN89Iam8m3KDDcV7bJZ2izYqCtsg3GH42qQlVz2e9t+LDDWt96mimGjkUhicc0tP6sJVOtpET0EmU2IrVXDsZVGg12+TRNpthMT\/0i08aqNoeBX7tydpoumvXOUenC\/UbgiB4fg1v+kbCOkFUVu5fu4E2Xt2O5HY9FYduL+KQD0DeX\/2fZl3I63WyHyJ9ktISc0dAzeoW0\/Gkq81vZqUc\/A1VJTV1aY01SYPMYM1Tgw6bZcBAlMSZGBirLh9lFrpBI7bXvJ4AWfDVbYUCusnYGVxptanChlM7SKSkpiMTdnW5zWQOMk\/31OZlHvh\/+S\/bZFenIGAczUxVI\/uoUbMWLkOdN5eWMaF6ah+y6xeY6l\/FPCPZ7esYeyciI1N7SwOlHl+8OJuKtiGX0ph3ExvKjwmGQrR8H3a+J7buIjGWiL4+42C252C8pOKk\/7HFCdvPt6QJ0jX5tDbWxkTypfJmmqTrncDPn4ejG92P9rONfxT3mJ9NnZBFSCImiwxAk1MlwUOH7a4eNIl0U26Kbh+dBTNuj2yFNUlMTJJ5uank7BE1tNR3OOteZY+KVY2wq6hvv\/N+G7PrdelcxA7+tAcMuf2GnCnGrg4a4YivgHpcu5NQqAV2DU92ul+T9Y286I05TTNVtmQRx7btLoGfw9SqEnCAoSGLSesvGEKG0QbDM05y9WxbCivyJwWtvt7omrnn+b4sw30khdHD3p51vsTpXHV5ubkMqLf4nsz91h6bCvUfHT2RvI2gky5dPcgtMr32OyhcMs8FlIrAfwfgeBM1y3icvxfevXQBRbB8uz4B+7Z3bxlWZG+IokGM9BcNspeYMYEhq502OrjgBQOvFL52LXg4c6dUhiPPbU63fSGtiIuxN5rMB9AmEkEMYcvfFslncpP9Kw+0hFIfLqVdtaNYmeByIXFC8pxEPT84lwaEeGcN40tuC0odn34TdHjXuZtXXdAljpbTrlVrRa15X1QLOgjmrJzVqXXPt3yQ13ZqgWiA\/xAU1fLCRMy\/rZ+8GLdtSDRqJfIj5mn\/BjclnTp9aeyFQhNoeTm8S1OrFbGMo8ormtpxlNv12xI6w+XSyUJ2BO\/YWyRW+CawG198kdDYhOfDZs99PI09gpsSh9Vuwk3hLFUOGOPyBj+5SsVH30DeOXPAhaKlBMPN0j\/WhXXe9oJBxjL9oVuqlfkVNNFmZBewp5ZoESOLmAdaK6EyRBNXE1Dl3f0N\/\/86BR7Xk\/vUu1ff6v19jerHOUjnbtOUP5iHSUCqpa81E+YuzTz7OxFOvYKOyh8QKb9oxS+8lc01v9jotP9RQyHyEWYqVHKuUrq9WAQp73jGR2ug1uf7vDmbE8wCfkhQUzVNbau2jK8v6VLDPWdGFG2el66eB6g\/oBM9gC+Qp2rsTj9d9KOUg5vP8Vj\/KtXLZCVbCoSvPCCHF9KAMRdJsabYCe0HWYNyhAOPLsvlYQh7FG74QZ0Xrb\/ZI0j4X3iLazvvXDuBlFOC1g4VPpp1LYhSyfPTJfMIJNZW30wTphpOKs+pTLY2l0m1HGwtGE5tiEBIUYbbzkmEkbiBQ5ZRhZllvC1iSi9jG3RDWAfAwIpSDu5OyRXjgXHoAKcOQJkgzgTkSVCuuZX02\/hf0GHB8J4ArASZCzqeeAQzNbzi03hEUiY+XyaIaifPhm0kD3ECL02jqTYlbeyvnTyLYYbzymCS\/iqR4cyBavP982k1Mfe8hk2NXMLsExxmYT9giKxUMdpl+HhJlL5OVxLbB91si\/Qkq+ujOnlmDIQdUUXBVzgCMdNc8TR6oOdUVXxEx5jOgobvUP6QZm2e6QZ+EKELJMnkuatYLzRfV6mbvCwRHKw3zaWb7HWgO3LswDSaoNrusFYr8JUrL\/wAyMvuVsxy3t2ng4OllTsPM1N4Xom64XeoG+2PM0\/FuU7GJFqDprc\/t237btBfXuGrhDB29FH4wxktONlYLffrPIfFk4eq5OWsvVysLgj0FcvdCIu8efD3ih2HQMX0u9MwalvC8OQgATkPJ9Z9LRPCvN3bI4E3k4EPwp74KkSXwH0OJdGV0xaioltdYEKyhLi\/nvCUkp7jz8IkB0SXD\/ev1JieUprBBmTu70j9e9mpW9AQ7ao42vluUsNyB\/YjdLdLjS7t67Vi0xpGpx7GbpPz2h\/JbKumYanJ0MWpucieD29PEOjy9CdBbbJyda6tOPEIkU9ivTBTpASImhaZrK7NA0CcITveOwV1N4jIF39o16HzWJGFx0YOFZh7Sr\/3puLpVInEikhToc8ZnuURjrnP7v9ocvka0bSpybgSK\/mP6+QOGtWUiGq0f8wlF69ZaQShzuKkHMPqDHaBYd+zCb157H6KydWS2b+eW81yWwajn31AA97YA9S2nrhY+s63rup2CKhK+kiWLRoiyP3zEFCBvUBbCrPAJ7LAonVkLigDDZN54++re9mndHWSM7CA1uhMXTZKZwT8eQjZLm6G9Mi1xdNM4upmeSQxXJk6H8auqUrndkY7eVDz9sF4hWHv94Kx6TTX3gMSs0ADkFVZoL9OnwZ2yd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