Xi Jinping
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A decade on, China's imperial financial gambit goes awry
The two parts of the OBOR project are the ‘Silk Road Economic Belt’ and the ‘21st Century Maritime Silk Road’. The former connects China with Central Asia, Eastern Europe, and Western Europe through land; while the latter is a network of sea-based routes to connect China’s southern coast with the Mediterranean, Africa, South-East Asia, and Central Asia.
China's push to redistribute wealth unsettles luxury goods industry
Shoppers in mainland China are vital to brands such as LVMH, Hermes and Gucci. Last year, as the coronavirus pandemic took hold worldwide, China's case numbers remained relatively low and the country's share of the global luxury market roughly doubled, according to consultancy Bain.
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