Retail
March 9, 2020
Many brands have been hurt by the lack of spending in China during COVID-19 but are hopeful it will return once it ends. The reality is more complex. Image credit: Shutterstock
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","iv":"e60f6e77f41737042ade665817d07552","s":"86dafdc475da8482"}
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