Economics
Chinese Corruption Crackdown Slams Sales of New Year's Bling
One luxury consultant sees a move toward brands that are 'a little bit less Gucci, less Louis Vuitton'
Chinese New Year
This article is for subscribers only.
During China's boom years, Shanxi province was an economic backwater notorious for coal mine accidents and air pollution. According to a 2013 study by researchers at Princeton University, the University of Texas-Austin, and Peking University, the number of Shanxi infants born with neural tube defects is 18 times as high as in the United States.
Now, Shanxi is at the forefront of China's latest trend: the new frugality.