Write About Economics: Luxury Goods Decline in China

Luxury goods decline in China
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There is a tragic issue of the decline of luxury goods in China that has resulted in an economic drawback in the luxury goods sector. The luxury industries include car industry, jewelry, gala banquets catering, and Maotai that is a high-end brand of liquor and the favorite in China is sensitive and need a therapeutic response that makes it interesting and got the interest rolling. Several factors contribute to the decline of luxury goods in China. The first factor is the campaign by the new president to sweep away corruption especially among top government officials. Secondly, there is hurting of luxury goods sales in China by the rich because of demonization. The last factor is the uncertainty in the world’s stock exchange that has currently been against Chinese luxury products ("International d...