Marketing
August 31, 2021
Does the latest government crackdown in China prove that the country’s luxury bubble is about to burst? Not so fast. Image credit: Shutterstock
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","iv":"4a21cafbc28d187129a90ca0809be901","s":"c434299ad874f0d0"}
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