Re:Oh no, I betrayed America
by Fade_Dance on Monday July 07, 2025 @09:36PM
(#44496183)
This isn't a new trend.
When it comes to luxury, some of this trend is even on the way out. If you at Estee Lauder's earnings calls, they are having serious issues because of the drop spending in duty free zones by Chinese.
Overall you're right of course, just thought I'd add an anecdote that I happen to recall.
Chinese citizens are prohibited from investing abroad and keeping money abroad. It might be that the signs you describe are more about getting around that prohibition than about hedonism.
Re:Oh no, I betrayed America
by budududuroiu on Monday July 07, 2025 @09:46PM
(#44496240)
I’m sure it’s some grey area. DBS Singapore saw some $6bn inflows from China in the first half of 2023. Regardless, I did see gold jewellery sold by weight in China too, which is much more indicative of use as an asset than a beauty piece
Re:Oh no, I betrayed America
by deadfoxygrandpa on Tuesday July 08, 2025 @03:50AM
(#44497984)
yeah i dont think this is true. where did you hear this?
Re:Oh no, I betrayed America
by userbinator on Monday July 07, 2025 @09:55PM
(#44496280)
While Louis Vuitton is closing stores in SF
There are other reasons besides China causing them to do that.
Re:Oh no, I betrayed America
by supportengineer on Monday July 07, 2025 @09:59PM
(#44496294)
Yes, such as the complete abandonment of law enforcement in SF.
Re:Oh no, I betrayed America
by mysteryalias on Tuesday July 08, 2025 @12:42AM
(#44497134)
You obviously have never set foot in SF if you’re spouting this nonsense. Hey everyone, the city with an insane concentration of wealth and corporations is also a lawless anarchist zone, just ignore your eyes and ears and it’ll make sense…
I’ve never been there but I don’t see how those two things are incompatible. All cities have good and bad neighbourhoods and wealthy people won’t live in bad neighbourhoods because they can afford not to.
Re:Oh no, I betrayed America
by supportengineer on Tuesday July 08, 2025 @08:11PM
(#44505156)
I spend several days a month in San Francisco
I'm not sure what time frame you're talking about, but I lived in Bangkok from 2019 to 2021, and Chinese tourists were all over the place then. That said, the mall next to my apartment no longer has the Incredible Hulk standing in front of it, so maybe you're right and the american influence is fading. ¯\_(ツ)_/¯
I have always thought that this is largely due to the fact that Chinese people still cannot inherit their parents' wealth, and that is why Chinese middle class and upper-middle class people travel a lot more than their Western counterparts. Is it not the case?
Re:Oh no, I betrayed America
by StrangeDoctor on Tuesday July 08, 2025 @01:12AM
(#44497295)
I’m not sure what you mean, they have a 0% inheritance tax, and a fully codified succession framework mostly through civil laws.
So, my perception was probably misinformed.
Re:Oh no, I betrayed America
by Gathering6678 on Tuesday July 08, 2025 @02:27AM
(#44497617)
This is incorrect.
> Unrelated to article per se, but I’ve noticed a distinctive shift as to who tourism-dependent countries cater to. Thailand, Malaysia, etc. all shifted their tourism to cater to the Chinese tourist market, as Westerners don’t spend as big when travelling.
I don't know about Malaysia, but IIRC Thailand is one of the few places Chinese nationals can travel visa free. Westerners have a lot more options.
If travel restrictions focus the the firehouse of Chinese tourists on a few locations, I'd expect those to end up catering to Chinese more than other nationalities.
Similar thing with luxury brands. While Louis Vuitton is closing stores in SF, they’ve custom built a huge boat-shaped one in Shanghai.