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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","iv":"9b16e5dd29756b72c4723a7f6cca5cf6","s":"5f7f08345a78dfd3"}
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