Does the latest government crackdown in China prove that the country’s luxury bubble is about to burst? Not so fast. Image credit: Shutterstock Why the Chinese decade of luxury is just starting
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Marketing | No Comments
Does the latest government crackdown in China prove that the country’s luxury bubble is about to burst? Not so fast. Image credit: Shutterstock {"ct":"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","iv":"b116e9eac4add284eb7484511a782bb5","s":"5a84fbe262f4a001"}