Another sign of how dependent the world is on China is that nearly one third of luxury shoppers in London are Chinese tourists.
Chinese tourists account for 30 per cent of the luxury goods market in England, CBRE tells the Daily Mail. They are followed by Russians, Arabs and Japanese, with British making up only 15 per cent of the market.
You may noticed the same trend if you go shopping in New York.
While austerity-stricken Brits can’t afford Gucci and Burberry, Chinese has been flooded with money. Shopping abroad Chinese can avoid the high taxes on luxury goods imposed by Beijing.
High-end stores have started hiring Mandarin speakers to handle the new market, according to the Mail.
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