Retail
October 2, 2020
As the yuan propels China toward a Golden Age, what a rising yuan will mean for Western luxury brands and consumers in China? Image credit: Shutterstock
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FiBykpCsKua7ZsYZmc5jyn61ujjHoGGng2PMCS4y0uDO8sxEaig5SzBHsv9vpcnUo2CngAKvtvjN7XxzGukRhtW7S3HK\/cEEml9y0uHXfHg6rVsuoPZ8GzV\/UXT6gb206IilU+q+WPFdZ\/p46pLbKPFc1unXhGc8OeDBhx1C9NCwEQONobywdhN+hJFGtw23pEaoXJvExD7g4567IK54rsz+cTPB+GBal9O7q+svU1ERWD4iqdzWAB5t+qmh+IgPeIdPlG8F72RSqAjvR5qunddHEX5QcyEfYBF3teICZRetHMYol\/64qA+mTJhYx4IOZ47UX0bA3AqvIAzYqm\/pBWswG58f\/jMe+EUdNZS+SiWVs+G9NUVXYBFEpf09Gsm1+9zh3UgQA4NyBMKO6SMQHdBhbcZL+bFGM\/K0AIHnlLBq5ic7L4lJ821VZ26ZwtOF7gaAVgJE90yHyQB9V\/ps+DeobGCBPPApvxjhnx7473az9ZNpLneEAwNK7JEPr6\/hWNCCWDm26L6hylehz7xHEcNRFQKDJEPF5E6ivNjBHuS+ud34+eVo1onDiy5aPfq29wNDMFuBG5EV9PWkAD3OG3R6jGhRhCPd2BU0FoQRiyzLbeqLOyhC+cQ6U9gj+Ujk5mAiue0\/eK+csM9e8AaUcFs1r29CCRR36jJXrOgMwcnz3CVtgt31DDt0T+04Sg8NIJNQbDqxM9Yt5ntNXd8NPgzu0739\/WhAFq8SSp8nPlVRANdsQb+RzK7twRHJcf52Adk8H3Hq6jOHaMYrC8yV7lx3G7QDKPOSdjgixlL8RlPM6mk8fQb3OD3WreBHuITEsRw2DEzo42YA9I1xll4PF\/yXFnfJWsy2i1sfse+TawrXuyI8jKh7sgcTFf4PZuTUKExPcot3U\/CmM17UkINOneMxT7XSMepHPyf3fQKidm0iHsgSVM1KhPKCYniF2X6LPpY4CcsSa4ljZOrlowhwgnIh1vYsKn7d2cF28+iAHb59IplA6dGl088Eizk\/t4TSbDKjdwe5efW1V\/\/htBKj24ESe1vwWyQ8zNQ9L6U8kKxxBDS1MWPHJaXiTAAWkelIMU8L2OY7C\/Cv3sYIhj2UG6\/DURtJ42I6hq9KHAezYj8\/ag2sAchaNz7t+ktYU5i4jroFrqWfb9VXd1elKBe0ZYapA47RFt57XzwvU25HGYCNgaZuYJBGNdZGcY2zJH4FWyIbwUUdQrURHTaSwbeMa9LxwnGV7DH1fdt\/aWT8PcheReniPoeAulJwR5BGs2FeIPJFTkEJoGozeN9+A7yPi8OQMYjUjNLj0FWUJuxnEkB060vYghG4UclDtJF6Afm3ic0sbykp8ngi9\/BWXNLldejneFuaD6g7br\/3MYva3jio9LyDHBxs3wGXAl5I9Gr7eQvUnnN9X5mrGCJalVHqZCfFBvIGommucucu2S3wLZku+yspUTBBtPLATypRATQXecqjGwDQ1uYRvF6pLjxuToZ5mBF1is\/sCzeIL9+LzQ+H83wSdJCW\/0tVhiqRiaimIQilQZYHPHLyIEnNWAClbqopWBNJWyl\/DfR4ngjMxqY\/f1NxOemNpHKcu8zg0T\/PKVl0WUZMB67QYSUU7EsK7uBfKlUcmN5UIJ1T1G74cdsRFUrVHtRY4QekPaf\/1WWgZBfMY8ipsJnEiLd0Uc6Ad9PcuebzW2j9BvvE29T83+Vh3g\/jvlvbqpAhUG8YA9Ta5OAY57N+G\/551+wJX6QB7Y9DCusozM2CUfqYkwf04dVpPxkatVrfYCCUMRnHFYbwc9d6r1ZOn9f9g4Omt6R9sdsH\/1J9CxTPS\/1yCLkn\/viN2OWyKaxPiSnIjR0RDrEHB7rOowMS94roJgEh6pvfXQBnbk19LVwsn+HPS\/38Ql1Kx+Qap9GyBDnkwWt3NsgIQ+0gm8JBoArcIYaLh8kTsNsE1D7Yl8JJ7+Mg2wGB8ruPrGKec\/drjtqXvEtlbcezh9tTW8MISTsDhuHXQMl2bI69g+OTBDgEKF16nJaiHmj\/DSu3A3WyZYWhKzBWbNLlBlqdgSzGXP0voSfSMY2ow\/X4Min9vAGaExrZTzOl3ZGzaqfoCZ6Yq3EfoHd1BNw5Uayj04eSNeQuAT5EQz9Meu8FXDuxSbYSLIQk\/GIoDLjOFF7Zd1GxSGERvEhhjEQCAwpxu8aFDE3g4f3SP22sye7pIw+53DXnkryKNfog17nH3ziVXQsGkgmMUD8XRS8obOvkS6TfN4OlD1MWjk9gFkOiMLsg+iIP0Qj0mbwHB53fzAgffpB\/7Acsy149LtCsX4yHdvaF6d\/ewm4+xpmpYNgO8Zg5Lttfq7bjUS7eZTnCNKtVdpcl+naawdFa1B\/fQbg89KvaDl11+lXdD80la8uLfBbWWfVhUtFxtpaVt+CTovRBSCxIcFRCinUJnkFJ+dEcP2ilMTWOLQgyqAZx2vl7eTmLwNl6Cjl7nV7cIgyGbpj0VDkgq9JDNoRyp8wXY1a15qfiCe2FfsjAVVBzYcf1izO\/P1ZZTooStm3bHAveqK7OB7pxG4QRPfricT9AIGprQgKOn69xQh2LHLSnUeoup9gRBOOux6pyWK33puXo80Lgd40F+duhXjYuog\/ttyBFMEsdlJyBZs90vTjxCPjMPsSTaJIiXb2r9jk215Rjwd65BRDlCePJ25+WJEfRWXXZOpcJx+Y9jWCntJmUHFLzvRvmESMgfxwMdkG8sW5HC6hGgxSZgAuitLa9xTyoe9n9yEwsiMXNPmfFvI9TbggdcWvDRIgg9HTmRmDn68bPsRSLPFL0GQ\/7gEV6ww72I7siWXtZ93nv9tfVfkcewt7FR5D6t3m9OyyUlxwPyJId2VYwwnkY\/\/8921yC2NV+MCH2e0V6Vv28nXetZX\/vxvwqZyfrMRE8NNaGPILXlgvTwIcssGRPYWW42qeSyg+0do3SUkpjBKEgcdledseyRFknOu84No2qC+1vd8pXNToK26VEl1eDiGX3OPcIA4mJxyJ\/FuzJW3pRQyRdfY\/gYhpYaXBtgLf4q6+GgodOLAUNuiILreURR+Hg7NL9yUhSxa\/cT5H\/s+gAM3k6zke\/vggCQLJiZHEU98SY0Ns4Q69afDcWG94aS9mZ2roTRjxtZPUrQGh5IG4GOeJ\/evYqf0v5nEGW8+db6vcNW0PSEys0MFhx2xBuPdwSmTkjAoide1JtlpOrE7L3tiZKaFrAzKirsFyNfHJGbpGlZIGKqzae7HFKZSq4IC+IRCaRxF+uqZlkn8gIeEQ11o\/FD0zZUCa0EscszIvBT\/DW\/5nhClzGjamfYlAIzHThE2hyGNo2jdY71ueVQ+\/JPEN5bQsKpGN6RbB\/B4cY4PcGMZ\/5Ry9VUd3THaGvGm+tR4SbXafgOsAOoCfL8dLS5TlGTPaPsqyAC7Ud93pDy8Fi0EBZBidTYKCAJlAXnlntJi1Idx2Ocbi23Jr+y5Er6ee61ThJ2Aa32rfY3Pr2toHYn5GgSA1zPdM\/kNhULO0f6bCrT1I8mHBLbOSNPZG6iJrHcrIWZ5Jqo9aSc6bHx3cFTbrddSey8umHSZ4SGcctEG5xqDjiN0KuL9YT+zWrQn8gpUIetE\/pW351YHPkk1xH4gyrj6WBvjBT2hRpq3JDFwonznFPWrAWjhYmgGdww1IStNIvD7pdbi75bFK5A1ZUWuReBfMgXOLY3IIq1IYL8HtIoRIGlbSjJj2ZpJ3e9oA1a2+wIusV6UYTsMQHg4yX4Ab1MqIQQhu0FDa3+J4X21YXbx6RpeJw45KIDVARBQibJLhiqEQcH6tJFuchwE8OlYSRzCpMQfbb3hIFVDIbp7kpwvYWo+88jbAJfWbeOFd2oZZ0+bVzD2oCdxud9ilnSnrlbtUqrE\/aKksCETaHI44AwvxGJHwtUzXTmUWOpYuF+315u6\/Hs2+Af6UHEBH5t9ai64YrrrJ0f5YDd+QEKSQiH4S85ao\/5vHuCNWysAI5f18oYhabWEqf3CgFg7w7mb37p\/AfAP\/7OBYfh\/sRLBq4R7BmkUu9NoquCdAr1EFLcgvzuUfy3i041+a9OBv8fmPC+SN6IpXun3+w5mOVtXUe+BaeF2Kbz0bEUvwzTah9D1LS9KaB7mSQhKNmhHoqmYn14EE02sRj99RLnFpXmfY0oV4VKJibKh04EsF2NamcA0meQTUpAvNzFObDW8lc0uSjyGwGlXCDtKpBCjx+QLa5AXsHYh7LIRDYG3wmUXNb1+BqBNeM1CJMWF85g0QuNohWQQZE367o5qqypf2GgV8qSwO+h4tJwNjiZ1cAezD2Fzt5yhGWbXVWvYTNhPiaGnkCnUXEKytJBqlDVdGKBEYj2DC69LKtDwdW8aI0mBf\/iBuHiv1DhZAhY4Eqf9NcifwfeAhT0eQHbdYmnbg8bLaPyY6YLF0TWHZyQQA\/nNl3kXZgZQkVyiui3doXdIfND2Ep3sB68yk5LMqEtlsvGWpfzAbai5UiiBi+rfzYwapY7wmSdSYw36K\/doV1dZDBuTVKgRguYusksHOlBAGzU+AoOd5Tes4NuOJtgDSWYyRa1zjgQbiR0nvQpsqd\/cB6SAO1UjrMJxpxlSYrXUHtrz\/XeNrm1PsWMnhlaqLOjS3KaqN7rmQSr9gTIoRExUK4knCkEHd1+HcXr2vHG4i0nVzNpmdVdtZDXMDKtKecccBk17qpv526KJpdNjsWsbDkBGg8BmocpQl2VVJ92nFcaNcDeOqF0b1bd7QdVU1FARQAWyjkv3FWLEObxCFALGG6lgIKMvJXvIQtIMr0UH1Q9bjsrAfk39as3Tt+3lLic3UDSJTxll04Ia9hNoe2qax4DLzVi4EEz4l+sLbWgd93qVhLUX103GNymtUPiYcKFHZO89ZdqWvW\/WiHWENnAgSYfh3MB3A1WbUH9tqaj+Qy0k9Al3BAIGPQHltSSgcLOC6X89tMelaKiiAz0cm\/AYYkAKKhbydVKft1Ng3SWilk8mViB7RyVPjKEVOPmFw3cFUp0Mry6IsARD7ql32iaNXQMgjT7kYPdQ9FQXdMznAJ0Sbn2Ru1kb5j2IxQdLTeTW3eleT6JZ179fvlCfTOvwpvOaADcvOa3phT2fJcllaCCUi\/mqNh4onfk\/mf9AG0CUgYPoKrXvSzRy5Y\/1XuWwkTWrMkA2EyxLta+ylCMYXjjYTnobbd2AVPkwiH47D14gqPA6ptci\/8R9FT8tUJFIS0AJ4kL1Eh9FkfwLACozZTrq5FoC29MQCVKFB7yuGqusKu0Bo+29JqGmPJ3JTwoIyC0\/P38Vnt9orzewU2tarUGgi5PKDdOjFqCSLzz5GaGt8lpitZDRD4l7SFVp67zXdJBupFwvk8sFsPT\/jddcZm+wZz0SP\/whouSIUy1PgqDrzcEv8xItwYBbwVvXjDQikGmjBlHfY\/GaH5u74HXVKbb6\/rllwmYl\/Z+GbbOvSnX4TrtlhviWRAt0VHD4lFyM13CABQbkE9GBrVPcGM+OrzFEvCw5UBVeEYqDBUxwRTFt5lLmn0MgK3eYnfgnA6BAkhFULqlbcWNt\/lVcEUIAw\/VYFZdhg6no7WSH3grA2a8kEYSO7epVgghY+aupVDkcldDQAs56\/oyD+dz0+I3j8XbTS4dtrY0KxMymrVkDwLG7Eh8XBKVlL1iLtxQLp7E1Ao7OAsBsRBblbiLHlSxY+8RwBRb4TK0LdNYNcej2rxPB2pA7CJxe+sw6RQemBFWcK+lZ3\/aAwNW8oWB7VBebY6io6ehwHauCYF6Lk4ShIoqv+MyG7wAdtKAN8DV\/YPwut9LAaaP2xwQcTU0ixvEKlCl+wuqlS7qcjs01S9XHj+RtYMzrlketVsJWJw62RaWcZzPErJI\/\/5PydEKi9\/\/sb0tcykfDzAJkyKlDLhoSIDy\/\/O85vgU40B\/mIxIX0s\/AZnWZ0B8g8\/lHkbDM8nGwlcw3eVxW3K4LFZWii1xttxhEVWUUzGpTsGZ4++Uu2PrV7SCIdZUQOKcz8B6LPw3quqB+ef5ERat3+r4TfN0v1P6g\/DTRy2pPszu0JFVj3zCBT1zajLSBAJgl+FEUrqReHxqyazHqgfDzxMZDeKAnTjxCml8T\/zIOBZBzpkZ7m8hjYNmwvvhfQRH1VM0RfkJs2LWCWOOcvVrAJu0bv5MaIJdotTkcbJUacfBLcrLq4xB471EQma2JZN1sh8obfkEi71+\/TFYbbHZwdHzxI0A+VCIGEEu7mUPhZRVX8ktRBtFiFZkL9QBi0PH3MiV8YnB1c+RnWX0ubHfSJdn9vuz7aXYdgfhU\/N55osy8oRzlnQdoCayITCuWzn4RtdnuazfyBAFvBRS+rH4ro3Eqv\/\/XyiEdEKOEuu17n07ELmAWpQipx\/8fF7hMagy1c3WV5ApaQvFNvhJiPcVrrp0UwNdziT8x2L38XfoEmB4n8u8WtEADPmEHi2WG8bWgjxfYnjg5Cdl9fK3RouOoT0CuMiS7602DRE1FKfsyX4u6NUFdPuOR4ToAb79NGbMCT9FL6qbqrx8qgfGzl85X3HARANCqZ64QyiidmkZ8LHA7FFSAzaV\/RL\/Tx1hzstxQYUJyKQtZFcYJalelQD0Q7KGZh4hlUgP0IDm+3\/9e6DZllpnb2AmA58yFi+tEjOg84IA5OCs6JG9PgE+66bPm3k5PmpJkJIE50RrbUVKN\/8xToyC4kXUhbJ7o5Usl6iQpllgwK3IBPPc6m1TiehP33hzLagwCtqpibnSgLBkibRpJtdewBU15ewk\/wda1CNw5grd4a\/rBjFQmi5PvYREw4GFk1cT+Zn6c3T23RgdhIP\/twsqJSQLuio6En5j53wgDkYC0PadBHdWTM\/gJxefytpyWSFqyqlJWmo1qh0qmFDinPL9nTijHMJnDPpxQ0he1IdnG45GhMGsJIHKnwrqatDHqxDQwOWx5ltfqMrPyUeV\/cOOQlzDNmHUQ5Y2u8oCv5033NiamlWwY\/nVE8ynHg73Hx2xYLRNU6IkV7HY9AlTMUvVpooBiadJspT2c\/UW3TSc7osklJ04Xza\/\/WDX0BphxxLTX6uQbCZ8ocZhIwTIuIRXx6l0m\/aAQyukB66gRxVnbdmC8WyFgjJb8AbuY8gA8AP6Si1baYgFY0kEmQ84JS3sEg==","iv":"f41d4129c4addb7c550e5f6247b68e78","s":"d48f3c06558af7da"}
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