(AP Photo)HONG KONG: China’s consumers have cut back on purchases of everything from iPhones to Swiss watches as the trade war with the US hits the economy. In 2018, Chinese spent 926 billion yuan ($137 billion) at restaurants and stores ringing in the Year of the Dog. With Chinese consumers in the global spotlight, here’s the outlook for some industries that count on them spending to ring in the New Year holiday. The French fashion giant LVMH on Jan 29 reported strong demand for its spirits and leather goods from Chinese consumers. Tourists are still going to be flocking to Macau this holiday, according to Lawrence Ho, CEO of the casino operator Melco Resorts & Entertainment Ltd.

Source: Bangkok Post February 02, 2019 09:00 UTC