Chinese government scolds luxury. The Party urges Millennials to frugality: “They are running far too much into debt”

Chinese Millennials, who are very fond of luxury, keep increasing considerably. At this point, there are a lot of them indeed. Very good news for luxury and high-end brands then. Yet, their number has been growing far too much: that is why China’s government top representatives are rather concerned about it. In fact, they fear…...

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