Europe has been a traditional winner in China’s luxury market, but both brands and countries are losing market share to Asia, and to a lesser degree to the US, discovers WSJ wealth editor Wei Gu in a discussion with HSBC’s Erwan Rambourg. Chinese travel more, and discover more and existing products.
Category Archives: Europe
WSJ’s wealth editor Wei Gu discusses why Chinese investors massively invest in the US and Europe, and why Manhattan looks cheap compared to Shanghai and Beijing, with Michael Klibaner, China head of Jones Lang LaSalle.
Paris and Europe in general are losing track as hot spots for buying luxury goods, as the crisis hits China’s middle class, and consumers move from luxury goods to lifestyle, tells business analyst Shaun Rein in WSJ. “Why buying expensive goods, if you cannot have clean water and air?”
Chinese tourists not only boom in numbers, they are much harder to understand, as their wishes diversify. China hospitality expert Roy Graff discusses at the China Weekly Hangout the place of governments, travel agents and the tourists themselves.
Gambling enclave Macau faces some stagnation and looks with envy how its US counterpart Las Vegas is doing. Business analyst Ben Cavender tells the Macau Business Daily how Macau can follow in the footsteps of America’s iconic gambling city.
Low wages in the world’s factory floor China have been for decades a deflationary force in the global economy. But as labor costs rise in China, developed countries can no longer count on getting cheap products, tells business analyst Shaun Rein in Global Sources. “China will focus on high value-added products.
Wahaha tycoon Zong Qinghou was a high profile US passport holder who backed out of his US citizenship. WSJ wealth editor Wei Gu explains that the liability of a green cards is growing, as rich Chinese discover they have to pay taxes of all their income. What are the alternatives?
Most wealthy Chinese have already bought themselves a foreign passport and properties, but now the higher middle-class is moving part of their assets abroad, tells WSJ wealth editor Wei Gu. And although Chinese restricts exporting capital abroad, Chinese find enough loopholes.
Bored with Hong Kong, Milan and Paris, China’s rich are turning to new places, notably in Africa, writes Wei Gu, luxury editor of the Wall Street Journal in Scene Asia. Botswana, Namibia, South Africa and Zambia are on the agenda. 60,000 visited Africa in the first half of 2012, a jump of 68%.