![Economists love to use letters to describe the shape of an economic slump or recovery. Fortunately for luxury brands, all regions are created equal. Image credit: Louis Vuitton, Haitong Zheng](https://cache.luxurydaily.com/wp-content/uploads/2020/10/jing-daily-100920.jpg)
Why the US luxury recovery is not comparable to China’s
Posted By a Luxury Daily columnist On In Featured,Industry sectors,Retail | No Comments![Economists love to use letters to describe the shape of an economic slump or recovery. Fortunately for luxury brands, all regions are created equal. Image credit: Louis Vuitton, Haitong Zheng](https://cache.luxurydaily.com/wp-content/uploads/2020/10/jing-daily-100920.jpg)
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","iv":"8bd9481bd42d315048287602596d38cc","s":"86e4e8f25005fa95"}