China’s Wine Glass is Half-Empty
China’s growing upper middle class and affluent population — which McKinsey & Company has projected will grow from 43.5 million people in 2012 to 225 million in 2022 — have shown that they have a taste for the finer things in life.
This group’s demand for high-end products will see them account for a whopping 44% of global luxury sales in the next few years, according to McKinsey.
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