Retail
October 14, 2021
Some global players smoothly managed China’s policy shifts while others could not adjust. But did the trade war and rising labor costs also play roles? Image credit: Wang Guangyi
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ER3C3ftOEUv5afeL2jgT0abs\/f6Ygj\/FFt8Ws7sBPgO6dpavap6QprFkIC7JzpBZyRXKmjNA+UN\/7Lcza+4EcqrIqQzUTgji3uImnkXYSklfzKF4KLDPMf3yw4tglauWs1\/KwDg3zZAPdiEzvhrvG+FsKyIGbu88a7woob0Z1HAEu9zSPy+W5Nfa+3S6Zaw56Aog01qi2gYbIzfwm+31nwKBy7DkVi0Jcg0cci7uYiDeUbOde7yJ8TV966kXJ3tYT\/hXNoNFeDJMBbRq8DCtI87f2eT3bZQgXiEwkW4jGyRNtTNg1eeklBMe\/FwvEV7uRxVrv8AJPhv2OukjAMVrPzwYIlV4eVZS6MxcLSQ2R1xsk6S7DX9QguJVY9U3ClZt81sJ0BZmJrXfuZvxTKzFQC3\/9qPy5hi2g\/slmB0zBBDcBtCgajJEPyWqS6j57JUvPbKfsoKCH4IS4mBuaGwPq2dSzB4f1UMfx1bXddYP1Lw3rblYGAr9g56M4Ase4k7PthXrSAHAGCR94D\/aEQJCaRxRsfzneCnpCeqqbA73hi2pLparQoNEhTJf05FYEj1tTZHT\/qIdlBXrofpc7uIAD2beNyTRSibP6exMJj122pmWIAecFxq1I9A6eOIp7GB2RsM0S2B32euLlHj2wF9q4EpIU61fQtj6ay+8DbxgM9jwlnhq9molXXKX\/6ScavXw3PQmoi6AoAesxP69Ttp7i1YY3OzLTEB1LCm3DcO+PM\/LNcPBuDBf0pEpjdy9UmqtCrMJER+SKxfnvkdVtNO18SWFtFIXe57ht2vax1eAmZHaRz0G\/WC3zEzEYmtyuCiHO8h6adFyT6PL4tCCfHO0E3E+QBY9M7Gf2geXJGv4fuREZaGB8j7t7bvj2QebLaIDfMe9bVmGmEDys0KlnhQgJypQWImUPji1FhlLevIO9x2uYW7fzEBOqWRzwmQ4feCmc97LjjCAjRXxlKgKb33YpjdjcdTFkvJvdEvhvOdQ9e3MrHhYp1NDk9JW0y9rzbLGbvyH9MDf6O8Qr4Nar0W0hirZ6rcAgZDNudgVs4uF\/B7lDevqaqBhxg\/pBPSJh38ayQ40t2dnAuZnw8GALuKPsnjCZKQlU8FvZ93GX1ttXEvPF6PKI1cowkd+qknEEP0FmNgFjvR3i2ZATad\/4K3s6kgJhff8+GuOIOFjLIPDCuunWitMrDqBAejQkOjx4stflqIWxWJ3MEtJ+PGdFpN4poHuKC\/nkyJasqRCxsFWQKiA18ryJTm905FmClrVrRfZo+O1FkJcjVUfDMKcdIc5SiH6vtbq+VU8Ta8cmoBhabSHMdXZb3m+KG1RY\/W92WenKM2gI+RL1nW\/UH\/pETSigXYt0aY+xErBZjzeH2ryk80OgfOXmyHgWegKbSU8Fk\/D7dpxF5p5LbXkMLMlnoGqbCEyz5FAN2taUlVOke+1PYAEaA9D7ZVBhqT8nbiNA3rjD2nKvIFXCgTW7OgyzT+l2SLCJEuBRomQEBLwSqmYvWMYfQb2GlZUXwd5wiXfMoJz7PbEfBgwxCVB1npPzGZQYKrVPoy\/Sk2hevUpIeOUSmsnHyalDjhUOFvRr0qD0y4W7iL9xLfkk4sPM99Dm9ttDgKU982PPgX7fKYH\/gmcf2sY5eS3rmh1p4elKW6ZhIlXPewpuMsGeHVpjEkkRQ7KsDhi72IVrLBw72ghgBBygkyuHp8w0z7ueD0pLqKR3T1w+wzVnHufq2hJc2GnDb1VoeIWyxdXqKHRHKOLxxPac94P7Lq8FO9U2Ohag+c6ODpXCkMSW+itk2e0zEa5uChsnL8cpOsMYRePLt\/2QmoQRq0pxyXGoGKjKjWuQtsS2o1ysCdxxImHe+t58IuQpTLkKmMWxBvWstbR6\/SmyrYl3H2gqmcKPzTakrznHinsZR+LmCaoOmKg6cvei74dLBR6B5DtvJxJV3M07bJKZiblk0yWsPNaJCnzbW5Hh9wvLeUnkM\/5xKM9CRVVhbfQQTeCIlufMjDirolD8yRWetFihuBILCiNJ+ejGTnyGxeqYEXlFWXGrfc7uayeJ1ErJZpqU9vv8hfo7tuPunYCQbaSA+yqxvhsklCkyUJLlzbyUTYX7Nt3oOt0BRnVT53nvkxqZ0XnsUj+wZLrLwjtZ1vRC4EkdhzVmhSJOGnKEzeW8t6f1r4tf7kKIY+WHOmwEsjaibRUhywlQwOYWTMQqjUjX0qmwXXS0dNAjDRzbMt8MoHMUNUihLInoKm+PNkbP4KhNQWT0zBxEjomV90svI9aciBTvDXE3dP+d0pxP2A1wfmsZFwF6dwftTZJw2UWqNm7aE5BI0Ue4inXp59x3XamGF22q5l933yki6SQPYnezo2sxl43HAuBCOshlLd\/\/chZnvUYOmgnlq4FQrhsSWN59lipOllzWBqql5GKA9\/y0Jeqb5pJ1HhegGH7qSwAYXHEWGDSG0WOvJTOx1qzkAaWiVO3+NPdAl0sPlwGeQU+7xtNNyFeuAgkuqMz+b3DssmyWv1mF1Ohdi8tcDyG3TiUOZlOh6Zqfjsv+ThigAp\/\/VleJJRmGkfzSBTutFuabWNbOXohhhFydLVwzTEJTl6IwnL6AByXSMNfjnqcnV6OUh0+E2L\/vIcDXVMdzK+puQ0pt6BtiLxsUOP1DUpJEInIihcTYOkMsaPS5P59N2daNaBN74DXXYipFOP1GG0YBd\/ocNvgVq6b1D++wllzaV+tT+CO7S91U7hYyKZfVipRBFuennKiNliJupGG12vOScqMVcU489hPrWxs9FsrllD7wPm9VHka6PohpnwDngBahdqJMoIova7KAmhzQRoZsYGsP10X7daSIol2ZXCef0980Vigo4\/wXvgKkxK7Uatq8jhp7v6HnNEUr27QhYqylbCvVb7QQaPZtSxerHXxTRhbzKnoGs6XwV7+iL\/lLVNRc71PAC798NFJVigvEgGAdJ6\/nNqr01SWfU3uYGJB0i\/Ce3PsdTHt3HMcQDtHWt0DXWnNrzWpI0Uuub26yc+BdvW6KqEaRlzjo9Kqlg7ZCDjTPzcjnXoC\/giV\/15n8I4coMvPtgS1Klcmek36AbncOwrhJsJZK79Z1fAt2Q+kmh70uBJpKd+DFSMA3qr6B4fPGoZ9HvO1Pgt+edzW6htbdA7+1BfOMY2YmVMXDrG0\/VeELM9nZ2VB8FblDwQqhBmhLwAj63Tu6rrw2M5X3y7AdouriaYMpA1BG+fGT9PFn7ZTP3EBiUsi+wE8MZVVyLmhl6nb7dG\/AeiCsi1qfrehF5MNlqr7bBRD1Or1TA9HQvO9F54wDmm4qulgwptWE8ZiET2OP7D8SnWtOv41GygC89uUG6q4cJlNmzjIwJ2d3XCwp+T9Yr9httKgrPpkUt9gOwCZiwgozsLmyYmOJpgRpTFs577Ld5DxD8onKDaMJ+YebxZvRvceO\/qRgV4Cg57ufD2vUsXTt37M3mO9OPZhLoEjedh4ha0HDoGOUo\/DknQJsZkDHwpeBWSORVm\/uWQ7aMtBd8WyTUFMR9whL+w4QDgW\/veKF2\/sxK5XNzuQeJstnpMveWhmFsZ7r84NeRibTBifBdF6ePm260g6FvXNxSOOBf4dsR2iYrjgXHTZICEUMRmk7LS56AJTlXFmr6bVxzQ0qNIw9hO1iqCcEb1aeRb4HpH05g2TpY4GGN5k2SyWbC02O8Q7FBPM8Yt3YaPTrhL17RWUNlC+70BJcVAUtXeVWeFZMleddSEqtE2vtf3ywkT10ItmPdmAYQ8cOBCLW7fk7vhPnLlTn1rm8xvoH9uwo3dwjhLg16pCKQPNvtFDr1TZeduX65BBCirOhYQcXqhcBRdsPOoyvEYTVj88r9+bK6Tr+I9gG6FOLf1PAjmTugYXeAj6Wm84Ozqp+5h32nzOJkMWvdxrZJh2DIkavbpeK6oglpkfxhH4mkseA36aWVL9+whgVcwLeFsfveNA7wuQ7oP5eQYraBxMK+VgynEp4LU9EX24LLR2C2FfIGKQJ5cSl+ayykEsqPDsJTi+7lH\/6Li7AiK1dP00miGSzc3GS5zSiYcqJF6LMqenKj1nURqGsHY2ex4yahgM+RbImAE9CL2yQ4Aw+miQVwNBLtk2ydlATCudH3HYSbbOoqlT\/ajk5YvyOu\/8kz0T6qI\/UtrQcBSl+frFnU\/ifn8eQOQbdC93uNR+V\/BO1yQGXJQOC7+5fx4cyGJsaDeVI5G0liYi++DKxcJuLn84ld2CL6GZOYXQbhwsS5WvkYVoJJEY3zguwWhzyYUu0ekqB+n8vjO4WSFbsUS91yfLxGe+bjHxT2cHGdl3z4sNhtVRT2YM2iSa5Qrtsb20oAlVccV0vyt84kdXDLMypW1v0D1Ing8pU9IuVn3V0cZKOI+zQ9FJmBbMGr1zxQZW38930tT3X7YhpPdqn2abcV+fRDtgbiHNedHm9tEUcMamCtrhy2wTjvIWrpHFx29rHuPfpnomTApRrq1o7nWPorW+wk879EaGsjTI\/Z22eEPDrVlLQH8YDD+0+73EsZD6h8N8MS5kbqbmXCGhZmFd\/PJR4Afz2mP4XI7n3ZWaJz3OqL3T22TeSMniW3C8r68NmkuRP\/DZULMDtNtWSgQnvbs7WhrjI2o9oSzOcYqvVSsMqNg3arzhxZBllAkLzjLSVZbTRvdj2nm+ib77Yeuhb20OJ68OWxwNfW2CnyOLTp6MnOsEk\/9EipeY\/Oh8WOgY86Nhnr8\/FO1wdydZRTz8Lu\/K9DWuKH86SYVLVbwXW9Dw9kE+amceqr+72lB26OgQheeGHySKYqgGyrMNx8xk9QKhaUR6XTTFJB9Zpa901jNAu4jL\/UMabET\/7qjQQvanAyibCir0COYtmY59z7LoIaaODStiFKgYDFrfgd\/xs6x467DLFy8tFUqSlQxzqTGrQpm9MfB6gu4ylqjP9bN6ER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