Chinese consumers opened their wallets to shop even as travel dropped during the week-long National Day holiday that ended Thursday.
However, tourism spending of 389.1 billion yuan from Oct. 1 to 7 was only about 60% of what it was in 2019, and down 4.7% from the same period in 2020, according to China's Ministry of Culture and Tourism.
May as well buy luxury goods their homes will be worthless soon
Moreover, Foreign asset managers are eyeing China’s vast pool of savings that amount to $18+ trillion over TWO THIRDS the ENTIRE DEBT of the States of America ($29+ trillion) in SAVINGS. Enjoy your Capitalism = Greed + Debt. 😉
And because China lifted 800 million of its citizens out of poverty. Roughly 2,5X the ENTIRE population of the States of America. What has the States of America done for its citizens? Never mind world knows the answer. It’s all over the news — NOTHING. 😉
The same bad news about China, CNBC is still better than CNN, BBC, the New York Times; CNN, BBC, the New York Times China news, is simply an insult to the intelligence of readers
Keep buying LV!!
China has 1,4 billion people. According to OECD, 10% of any nation’s population has debt-free spending clout. That puts China at 140 million+ with debt-free disposable income. That’s roughly 4,2 X the States of America. Tell us again why the States of America is needed?😉
horrible