Posts

Showing posts from October, 2021

we are the only country where luxury product

and giving communist rulers a headache China's newly rich love luxury products imported French handbags, Italian sports cars and even more, they love to show off their bling. That seems to be creating headaches for China's communist rulers, who after three decades of exhorting their subjects to get rich are facing growing discontent over a widening income gap. Officials now talk about making sure wealth is more evenly distributed, and how to get the rich to tone it down. As the global economy fake louis bag deteriorates, and China tries to accelerate its shift to a more consumer led growth model, Beijing's leaders see luxury items as a lucrative revenue source. Many Chinese buy luxury products in Hong Kong or abroad to avoid China's high taxes, so officials are debating a move to slash tariffs to encourage consumers to shop at home. But the government is loath to be seen as taking any new measures to support the sliver of the population that can afford that pricey n