What's In A Name?

A tour round high-class shopping malls in Hong Kong on a non-working day, in particular the designer brand goods stores and counters, would suggest that the SAR's luxury retail sector is still faring much better than that in other big cities like New York and London, which has buckled under the onslaught of the financial tsunami. Whether Hong Kong shoppers' unaffected glee is due to deliberate oblivion or ignorance of what's going on in the leading world economies, or absolute confidence in spill-over effect of the mainland's gargantuan economic stimulus package, it is anybody's guess. But the glaring difference in fortune between Hong Kong's and New York's luxury retailers can be detected in the former's obvious reluctance to offer deep discounts (via my observation) and the latter's panic-mode reaction to the present economic downturn (as reported in news).

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