January 18, 2021
China today reported 2.3% growth in GDP last year, making it the first and probably only major country whose economy expanded in 2020.
But a marked decrease in consumer spending, contrasted against a resilient and robust luxury goods market, offers a glimpse into how uneven the country’s recovery has been.
Despite seeing its first GDP contraction in nearly 30 years in the first quarter of last year, China appeared to bounce back relatively quickly from the coronavirus pandemic. Thanks to Beijing’s draconian measures to contain the virus, its focus on reviving sectors like infrastructure, and strong overseas demand for Chinese goods, the country has had a V-shaped recovery since the middle of last year, and reported 6.5% GDP growth in the fourth quarter. Although China’s GDP growth in 2020 is the slowest the country has had in over 40 years, it still beat analyst expectations of 2.1%.
China s Recovery Props up Swiss Watch Exports in November December 23, 20 by John Jeffay
(IDEX Online) - The alarming decline in of Swiss watch exports slowed in November, buoyed by a robust recovery in China.
Exports are down 23.5 per cent year-on-year in the first 11 months of 2020, according to new figures released by the Federation of the Swiss Watch Industry.
But the sector s biggest single market, China, saw sales up by almost 70 per cent to $338m, a stark contrast with October s 15 per cent increase.
Sales to the UK were up by almost 22 per cent, but they were down in the USA, Hong Kong a
The enigma of Japanese youth
July 2019
Japanese people
aged 20 to 40 are
much less into luxury
than their parents,
who experienced the
countryâs industrial
boom. They prefer to
save for their future,
or spend their money
on experiences. As in
Europe or the USA,
the middle class is in
the grip of uncertainty.
The luxury sector is
trying to adapt.
The enigma of Japanese youth
July 2019
Japanese people
aged 20 to 40 are
much less into luxury
than their parents,
who experienced the
countryâs industrial
boom. They prefer to
save for their future,
or spend their money
on experiences. As in
Wednesday 16 December
Five years after the law was changed to allow the registration of non-traditional marks, application numbers have dropped dramatically. In an extract from an upcoming feature, the Japan Patent Office s Kensaku Takase and Yuka Matsuzawa considered the future of such marks in the country. Read more
WTR sat down with Tiki Dare, who next month takes up the mantle of 2021 INTA president, for a wide-ranging discussion including priorities and task force focus. Read more
IP counsel at the Federation of the Swiss Watch Industry and the Jelly Belly Candy Company revealed the impact that covid-19 has had on in-house workloads this year and the practices that are likely to continue long into the future. Read more