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July 22, 2008
Phrases like “Chinese Growth”, “Asian Tiger”, and so forth are overused and easily jettisoned as meaningless sound bites. But the three story high Louis Vuitton shop in Beijing, while also overused, is far from meaningless for many residents. There, aspirational Chinese acquire high value luxury goods at European prices. The knock-offs are bought just a quarter of a mile away, in Silk Street, by Western tourists. These are the same tourists who generate the brisk trade in knock-off branded...
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