Last word from the East: The 'new normal'

Edward Bell

This article discusses China's 'new normal', where slowing economic growth has led to consumers demanding greater value for money.

Last word from the East: The 'new normal'

Edward BellFCB Greater China

There's a lot of talk about the 'new normal' in China. And with the slowdown now percolating every corner of Chinese life, one is left with a palpable sense that, from consumers, the 'new normal' calls for 'more value'.

There was a time, several years ago amid the double-digit growth era, when the deep frugality of Chineseness almost gave way to financial flippancy. People were so confident of the future that the cost of things was rendered not unimportant, but less relevant. When everything is going up,...

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