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Anyone who has been to China would have noticed how much more expensive foreign goods cost there. From Starbucks to Nike, Haagen Dazs to Prada, foreign brands are often sold at a hefty premium in the Mainland.
This infographic explains why this is so and sheds some light on why there are often throngs of Chinese shoppers queuing up outside a luxury store in Hong Kong or anywhere else around the world.
Hong Kong’s lingering turmoil suggests that its economic future is not assured. Recently, the Chinese People’s Daily accused Washington for colluding with Occupy Central protest organizers to try and foment a “color revolution.” In the West, the charge has been downplayed. Today, Hong Kong must cope with political, economic and external risks. Read more
Joseph E. Stiglitz,
Jeffrey D. Sachs,
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