Chinese Millionaires Fly From China To London To Buy Goods Made In China

[ralphmalph]

http://www.dailymail.co.uk/news/article-1342311/UK-SALES-Chinas-Gucci-generation-splurge-1bn.html

Err, Are they not cheaper in China?

Are they all fakes in Chinese Shops?

Are the Chinese Thick?

Why oh why fly half way around the world when you have factory outlets?

Edited December 28, 2010 by ralphmalph

[Guest spp]

http://www.dailymail.co.uk/news/article-1342311/UK-SALES-Chinas-Gucci-generation-splurge-1bn.html

Err, Are they not cheaper in China?

Are they all fakes in Chinese Shops?

Are the Chinese Thick?

Why oh why fly half way around the world when you have factory outlets?

They look like students to me.

[_w_]

It can't be right.

Vile wide eyed foreigners are the source of hot money flows into poor victimised China. Surely not the other way round!

[scepticus]

http://www.dailymail.co.uk/news/article-1342311/UK-SALES-Chinas-Gucci-generation-splurge-1bn.html

Err, Are they not cheaper in China?

Are they all fakes in Chinese Shops?

Are the Chinese Thick?

Why oh why fly half way around the world when you have factory outlets?

oh thanks for that.

There's a blog post in that for me.

[theonlywayisdown]

http://www.dailymail.co.uk/news/article-1342311/UK-SALES-Chinas-Gucci-generation-splurge-1bn.html

Err, Are they not cheaper in China?

Are they all fakes in Chinese Shops?

Are the Chinese Thick?

Why oh why fly half way around the world when you have factory outlets?

OP, did you even read the article you linked to?

I'll quote it here in case you didn't:

‘China’s rapidly-growing economy has generated a vast new market for luxury goods. But the high taxes levied on imported Western goods in China makes purchasing these products in Britain 20 to 30 per cent cheaper for them. They are also attracted by the cachet of buying a luxury item from its country of origin.

Hence the reason why they're shopping in London, its cheaper. Also, when you're loaded I doubt you'd be going to factory outlets to get your gear...oh wait, LV/Gucci don't do factory outlets

[ralphmalph]

OP, did you even read the article you linked to?

I'll quote it here in case you didn't:

‘China’s rapidly-growing economy has generated a vast new market for luxury goods. But the high taxes levied on imported Western goods in China makes purchasing these products in Britain 20 to 30 per cent cheaper for them. They are also attracted by the cachet of buying a luxury item from its country of origin.

Hence the reason why they're shopping in London, its cheaper. Also, when you're loaded I doubt you'd be going to factory outlets to get your gear...oh wait, LV/Gucci don't do factory outlets

Yes I did read it. I factored in the Airfare and the hotel bills and the meals.

Gucci do not do factory outlets. Er wrong!

http://www.ciaodarling.com/italy/factoryoutletshopping/gucci.htm

Edit: Also I forgot to add what has Gucci and Louis Vitton got to do with being made in the country of origin. Are they British Brands?

Edited December 29, 2010 by ralphmalph

[ken_ichikawa]

Firstly some of them are library pictures, I've seen those pictures for the last 3 years running now.

Secondly even if they have a horrible time Chinese face rules make them make out to their friends and family that it was absolutely fantastic. The 1990s and 00s were a barren time for Chinese migrants. The hot food biz if you were not established was unprofitable, wages fell due to other migrants.

But when they went home to see mum and dad and their friends they would say it was excellent I'm making $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ etc. This would convince other whipper snappers to come out and try the same. They would taste the reality but they too not to be seen as stupid would praise how good it was.

My great great grandad in 18xx had this happen to him, he had a terrible time in Liverpool, but said it was great and cool. This made my great grandad come out he had a terrible time too etc. (all of them were asked to leave at gunpoint btw)

[scepticus]

It can't be right.

Vile wide eyed foreigners are the source of hot money flows into poor victimised China. Surely not the other way round!

the hot money flows will always, eventually, return to the source.

http://liminalhack.wordpress.com/2010/11/04/water-water-everywhere-not-a-drop-todrink/

The really difficult thing for people to grasp here, is that the countries which have been running negative real interest rates for a decade or more (and yes, Germany is in this category too, when everything is netted out - especially domestic wages) now seem to have ended up as the worlds creditors and have the strongest economies to boot and are coming over here buying up all our property and bling.

Now, isn't that an odd, counter intuitive phenomenon, surely negative real rates destroy capital - not build it?

One wonders then why the evidence points in the opposite direction?

[theonlywayisdown]

Yes I did read it. I factored in the Airfare and the hotel bills and the meals.

Gucci do not do factory outlets. Er wrong!

http://www.ciaodarling.com/italy/factoryoutletshopping/gucci.htm

Edit: Also I forgot to add what has Gucci and Louis Vitton got to do with being made in the country of origin. Are they British Brands?

Perhaps they are also visiting friends/family, aswell as shopping? you asked some questions, and I replied.

Seems like you're quite bitter about the chinese, asking if they're thick. Funnily enough, they'll be the richest and most powerful country in the next 10 years.

Yes, of course Gucci and LV are British brands, made in the good old UK!

Edit: are you implying that there are Gucci/LV outlets in China? if so, please google it for me and post the link, tia.

Edited December 29, 2010 by theonlywayisdown

[Guest The Relaxation Suite]

http://www.dailymail.co.uk/news/article-1342311/UK-SALES-Chinas-Gucci-generation-splurge-1bn.html

Err, Are they not cheaper in China?

Are they all fakes in Chinese Shops?

Are the Chinese Thick?

Why oh why fly half way around the world when you have factory outlets?

There will be considerably less traffic between China and the West when they're at war with each other. I'll bet my last slice of Dundee cake on that.

[montesquieu]

I must admit to being a bit shocked when I first saw the prices in shopping malls in Beijing, Nanjing and Shanghai.

Prices for branded good - even some non-branded ones - are way higher than anything you pay in Europe. Doesn't matter if they are made in China.

Semi-literate farmers turn up at these places, flush with the money they got lucky with, and spend it at the urging of their wives, on total tat (but expensive European tat - fancy knitwear, Italian or English shoes, German suits). it's all about the price you paid - spending more is a measure of how well you've done, not how stupid you are (though come to think of it though we have that here especially in my main hobby, high end hifi).

The average mainland Chinese student you see here is most likely the child of one of these types (or a similar set of parents who did well in the boom years) they drive the best cars on campus, don't mix with the natives and can't wait to get home with their freshly minted MBA or MA in international business.

I don't draw conclusions from it but it's a fascinating phenomenon.

[Realistbear]

It can't be right.

Vile wide eyed foreigners are the source of hot money flows into poor victimised China. Surely not the other way round!

Much like all those accusations against the US and their big oil companies such as BP, Shell, Total, Exxon taking advantage of the poor Arab Sheiks who buy up more luxury goods than the Chinese elites per capita. The real victims are the poor Arabs enslaved by the Sheiks and Mullahs who point to the West as the cause of their poverty while using religion as an aggressive opiate to keep them from turning on their own leaders as Armourdinnerjacket has so recently demonstrated in his "Iranian Election."

.

[SarahBell]

yay! We can be a nation of shopkeepers!

[easy2012]

the hot money flows will always, eventually, return to the source.

http://liminalhack.wordpress.com/2010/11/04/water-water-everywhere-not-a-drop-todrink/

The really difficult thing for people to grasp here, is that the countries which have been running negative real interest rates for a decade or more (and yes, Germany is in this category too, when everything is netted out - especially domestic wages) now seem to have ended up as the worlds creditors and have the strongest economies to boot and are coming over here buying up all our property and bling.

Now, isn't that an odd, counter intuitive phenomenon, surely negative real rates destroy capital - not build it?

One wonders then why the evidence points in the opposite direction?

There are indeed many countries running a small -ve real rates and have strong growth.

I can quote you many more examples of countries running -ve interest rates that have not bring to much progress (Myanmar, Hungary).

Many factors affect a country's progress and a small -ve rates is, in my view, a fairly small factor if the country has the infrastructure/culture/regulatory frameworks to deploy those capital easily to earn rates far higher than the rates of inflation.