Price wars: China's middle class 'cuts down on large...

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Price wars: China's middle class 'cuts down on large expenditures' as deflation deepens; shifts to second-hand luxury stores

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Chinese consumers are changing their spending habits. Economic challenges are impacting luxury goods consumption. People like Mandy Li are opting for second-hand luxury items due to pay cuts and property value declines. Deflation fears are rising with consumer prices falling. Price wars are erupting across various sectors.

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