Money talks: Luxury for the masses?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 28 March 2017
⏱️ 16 minutes
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| 0:00.0 | Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey. |
| 0:11.0 | So no excuses not to visit your in-laws this Christmas. |
| 0:16.5 | Trains now on Uber. T's and C's apply check the Uber app. Hello I'm Simon Long, finance and economics editor at The Economist and this is Money Talks. |
| 0:30.0 | Later in the programme, Indonesia transformation, |
| 0:34.0 | it thinks that solar can become much more important than wind, |
| 0:37.0 | but it also wants to develop hydroelectricity and gas, |
| 0:41.0 | which are relatively underdeveloped. |
| 0:43.2 | And sand. It may seem abundant, but in fact it's a scarce resource with demand outstripping the rate at which it's |
| 0:49.8 | naturally replenished. |
| 0:51.2 | Because regulations aren't enforced well enough, not a week goes by without reports of |
| 0:56.4 | the goings-on of the San Mathia in India. |
| 0:59.7 | But first, a bit of luxury. It seems that almost every week on money talks we touch at some |
| 1:06.1 | point on the massive economic impact of China's rise. Perhaps in no business is that more true |
| 1:12.2 | than the luxury goods sector. |
| 1:14.0 | The emergence of a Chinese middle class with money to spend, |
| 1:17.5 | and few inhibitions about flaunting it |
| 1:20.0 | led to a boom for expensive fashion, luggage and watches. |
| 1:24.1 | But under President Xi Jinping, a crackdown on perceived corruption |
| 1:27.7 | has made Chinese consumers more |
| 1:29.5 | diffident about showing off their wealth. |
| 1:32.1 | How's that affected the luxury business? |
| 1:34.0 | Adam Roberts, our European Business and Finance Editor, has been investigating |
... |
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