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As luxury brands connect with China’s young, the dangers of debt loom large
Posted By
a Luxury Daily columnist
On
September 5, 2017 @ 2:00 am
In Featured,Financial services,Industry sectors |
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Owe my g-d! Photo: Pornsawan Sangmanee/Shutterstock.com
By
Qin Qian
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","iv":"c449061b349eaaf87c8ebeffe799b20f","s":"d1d21825cb9d456e"}