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":"02f0ac0242b6fc00472caa03ec821567","s":"1ff6240648f5a787"}
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