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":"9db853c0722d5d99dec6552871e232a6","s":"bffdf6aa847a3059"}
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