China’s ‘common prosperity’ push, consumer nationalism stir new challenges for global brands

Feb 27, 2022 | INVESTING

Multinational brands looking to tap China’s enormous consumer market are being forced to rethink their strategies amid Beijing’s “common prosperity” initiative, rising consumer nationalism and changes caused by the coronavirus pandemic.President Xi Jinping’s “common prosperity’’ push – which aims to reduce China’s yawning wealth gap – is being closely watched by foreign companies and retailers.While Beijing’s plans will help boost China’s middle class population to an estimated 500 million by…

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