China wealth plans for "common prosperity".

[TimepieceRPP]

https://www.reuters.com/business/chi...om-2021-09-20/

Hope can cool down then hype little bit... Will it be?

[SDGT3]

Besides the taxes on the personal side for the wealthy in China, there's a lot of business uncertainty going on there as well. Fasten your seatbelts because things are going to be very bumping for worldwide markets moving forward.

https://www.zerohedge.com/markets/fu...ve-goes-global

[YGRLX]

And this affects celebrities wanting to buy luxury goods how?

[GreatScott]

Everyone in China now gets a Rolex, the waiting list just gained 1 Billion people in front of me

Sent from my Pixel 5 using Tapatalk

[TimepieceRPP]

Originally Posted by GreatScott

Everyone in China now gets a Rolex, the waiting list just gained 1 Billion people in front of me

Sent from my Pixel 5 using Tapatalk

I am behind you.

[ugoblue]

The Chinese Communist Party (CCP) may make it more difficult to buy luxury watches in China. The stock market is also spooked that Chinese companies are about to default on a large amount of debt. The former would reduce luxury watch demand in China (if the Chinese could travel oversees than they'd buy there but because of Covid they can't). The latter may reduce wealth everywhere.

[TimepieceRPP]

Originally Posted by ugoblue

The Chinese Communist Party (CCP) may make it more difficult to buy luxury watches in China. The stock market is also spooked that Chinese companies are about to default on a large amount of debt. The former would reduce luxury watch demand in China (if the Chinese could travel oversees than they'd buy there but because of Covid they can't). The latter may reduce wealth everywhere.

As far as I know, CCP is trying all measures to stop their citizens going overseas, e.g, making it very difficult to get the visa, being afraid of bringing a lot of money out of the country.