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President Xi Jinping’s campaigns to crack down on corrupt government officials and promote a more equal distribution of income have made displays of wealth not just passe, but potentially dangerous. (www.bloomberg.com)

submitted 1 week ago by [email protected] to c/[email protected]

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[–] [email protected] 5 points 1 week ago

Coco Li, 46, used to spend about HK$600,000 ($77,000) a year — or roughly 20% of her income — buying luxury items. After losing her job as an executive at a multinational company in Hong Kong, she’s curtailed her habit and put some of her Hermes handbags up for sale on mainland Chinese online platforms.