“Retail trade being the way it is, I cannot encourage anyone in my family to join this business. “In the past, people changed phones as soon as the new model came out. China needs to keep up the pace of expansion to deal with a pile of debt amassed during its boom years. He said younger consumers in China are more wary of spending on luxury goods and cars than their parents. Nike Inc. has posted 20 straight quarters of double-digit sales growth in China.But in the consumer arena, bad news begets bad news.

Source: Economic Times October 10, 2019 03:59 UTC