Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Chinese Millionaires Ordering European Bling

Recommended Posts

http://www.msnbc.msn.com/id/13321073/

China's increasing demand for high-end bling

Economic boom fuels 300,000 millionaires' appetite for luxury goods

June 13: CNBC’s Margaraet Brennan looks at the burgeoning market in China for hot luxury brands like Cartier, Burberry and Louis Vuitton.

Updated: 2:37 p.m. ET June 14, 2006

Margaret Brennan

Reporter

NEW YORK - China doesn’t just have a thirst for oil. It wants high-end bling.
Made in China is a label we are all used to seeing. But, these days China is also doing some buying. As its economy booms, so is the demand for high-end bling.

Perhaps a wealthy China is not all that bad as we can at least export our Chav hats to them? So long as they don't have a "made in China label" that is.

On the other hand, they had better watch out that another Mao Tse Tung does not rise up and commit fanshen on the blingers.

Share this post


Link to post
Share on other sites

If half the people in China are rich enough to buy a 10g gold wedding ring, that's 6500 tonnes of gold. What would that do to the price of gold?

The German bundesbank for example holds 3400 tonnes of gold. I believe the US federal reserve holds about 8000 tonnes.

So, wedding rings catching on in China (and the Chinese having enough money to buy them) would have a massive effect on the price of gold I think.

frugalista

Share this post


Link to post
Share on other sites

If half the people in China are rich enough to buy a 10g gold wedding ring, that's 6500 tonnes of gold. What would that do to the price of gold?

The German bundesbank for example holds 3400 tonnes of gold. I believe the US federal reserve holds about 8000 tonnes.

So, wedding rings catching on in China (and the Chinese having enough money to buy them) would have a massive effect on the price of gold I think.

frugalista

Now there's a thought.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.