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China's Resilient Shoppers Face Fresh Test From Market Headwinds

  • Consumption shrugged off mid-2015 stock rout. Can it again?
  • New Consumption in next decade to top previous 25 years
Shoppers and tourists crowd down Nanjing Road East, the city's main shopping street, during the national day golden week in Shanghai, China on Saturday, 01 October, 2011.
Photographer: Qilai Shen/Bloomberg

China’s consumers, having shrugged off stock market turmoil last year, face fresh headwinds as shares sink anew, the yuan weakens and the economy grinds lower.

The willingness of shoppers to keep opening their wallets through the market’s ups and downs -- as they did in 2015 -- will be key to whether the world’s second-largest economy avoids the kind of hard-landing scenario keeping global markets on edge.