How would luxury react towards sanctions against China?

What if China decided to provide material help to the Kremlin? Beijing is now taking seriously the USA’s threats in terms of potential sanctions. The impact could be very heavy for China, as well as for the rest of the world, considering the nation led by Xi Jinping is much more integrated in the market than Russia.

Second biggest economic power worldwide, China had already undergone some sanctions related to the trade war which Trump’s America was leading against it.

It was then that the Middle Empire renewed its economic strategy already used under Mao Zedong: Chinese protectionism and self-sufficiency.  Furthermore, the country can count on a form of guaranteed stability through its control of capital, a way of containing currency flooding out during crisis. Not to mention that further to the targeting of ZTE and Huawei by Washington, Chinese economic analysts deemed necessary to advocate a lower dependance on imports, including in the tech, agriculture, energy, and of course luxury sectors.

Yet with an increase of 36% in sales in 2021 and 74 billion dollars in turnover, the luxury goods market in Continental China continues its growth in 2022, despite the Covid-19 pandemic which is still paralyzing some regions in the country and the cities of Shanghai and Beijing.