How to Profit From the Growing Luxury Market in China
Emerging Asia's role in the market for high-end luxury goods is mushrooming, reflecting a shift eastward in the global balance of spending power. This shift has crept along for years but has accelerated recently due to the global economic crisis, which has hampered economic growth in many countries. US consumers ended up living beyond their means by borrowing against asset bubbles – housing, stocks, etc. - which have burst and may be weak for years. By contrast, household spending by Asia's developing nations is expected to increase as continued growth, rising populations and improving health/retirement provisions reduce the need for…
