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":"036b2ff732c4f314626fa8e8645e6cd8","s":"4af9853d92caef5e"}
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