China has prioritized GDP growth over unemployment, while official statistics minimize this by offering an unreliable snapshot of China’s unemployment data. Image credit: Shutterstock
Why China’s high unemployment is bad news for luxury
Posted By a Luxury Daily columnist On In Featured,Industry sectors,Retail | No 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","iv":"7c4345d1aacc0e991c7ddc6a57feb275","s":"6c166da9fdb661bb"}