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Professor Advocates for 'Luxury-Phobia' Shift to Boost China’s Economy

1/21/2026

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Summary

Story summary

Peking University professor Su Jian argues that overcoming a 'luxury-phobia' is essential to boost consumer spending in China.
He suggests luxury goods should be viewed as a sign of social progress, in contrast to the government's austerity measures.
These measures have fostered a culture of secrecy among officials, who avoid visible spending to evade scrutiny.
Policy circles continue debating how to shift attitudes and stimulate consumption in the economy.

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Story summary

Peking University professor Su Jian argues that overcoming a 'luxury-phobia' is essential to boost consumer spending in China.
He suggests luxury goods should be viewed as a sign of social progress, in contrast to the government's austerity measures.
These measures have fostered a culture of secrecy among officials, who avoid visible spending to evade scrutiny.
Policy circles continue debating how to shift attitudes and stimulate consumption in the economy.