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7+%2#282#>&5:1$%&2*&?42*"*!.'4'%)!+)607!?7!Z',!S'+'$.4#!+#-,+!)#$)!$%!$+)-%(+#(%&!R^m!-:!"#(%'+'!$.'!#$;;7!,()#!)#'!

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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E-.!7'$.+!"#(%$!#$+!?''%!:$5'0!:-.!()+!$?(/()7!)-!4-;7!0'+(.$?/'!&--0+!

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8/14/2019 Bates 141 10 Changes in 2009

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7+%2#282#>&5:1$%&2*&?42*"f-,'3'.8!'%-.5-6+!$03$%4'+!(%!'064$)(-%!$%0!(%3'+)5'%)!(%!)'4#%-/-&78!

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8/14/2019 Bates 141 10 Changes in 2009

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e%!$!5$.B'0!4#$%&'8!"#(%'+'!4-%+65'.+!%-!

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K(5(/$./78!:-.'(&%!?.$%0+!,(+#(%&!)-!+644''0!(%!"#(%$!4$%!%-!/-%&'.!'9;-.)!&/-?$/!$03'.)(+(%&!

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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*5'.(4$%!*;;$.'/8!,#(4#!5$0'!()+!%$5'!(%!)#'!bK!

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8/14/2019 Bates 141 10 Changes in 2009

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Chinese brands go global

47

d-!/-%&'.!0-'+!"#(%$!+-/'/7!'9;-.)!5$%6:$4)6.'0!

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8/14/2019 Bates 141 10 Changes in 2009

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"#(%'+'!4$.!5$%6:$4)6.'.!a''/7!'9;'4)+!)-!?64B!)#'!

0-,%,$.0!).'%0!(%!)#'!$6)-!4$)'&-.7!$%0!(%4.'$+'!

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8/14/2019 Bates 141 10 Changes in 2009

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I4$&H5$"#&?"#O"10&+B&?42*"&

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8/14/2019 Bates 141 10 Changes in 2009

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?42*")&I4$&*$O&4+6$&+B&/"*A

bK!$%0!c6.-;'!(%!PQHQ

&.'$)'+)!(%3'+)-.!(%!/(3(%&!5'5-.78!=$..'%!D6::'))8!)#$)!#'!

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8/14/2019 Bates 141 10 Changes in 2009

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?42*")&I4$&*$O&4+6$&+B&/"*AO6)4#!$.4#()'4)!$%0!6.?$%(+)!S'5!n--/#$$+!,'%)!)-!"#(%$!

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8/14/2019 Bates 141 10 Changes in 2009

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?42*")&I4$&*$O&4+6$&+B&/"*A"#(%$!#$+!:-6.!5-.'!K#'%>#-6!+;$4'!

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8/14/2019 Bates 141 10 Changes in 2009

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v!"-(%'0!?7!D$)'+!HIH!

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8/14/2019 Bates 141 10 Changes in 2009

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! D.$%0!?4"*C$7+2*#&! C;;-.)6%()7!

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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?++02*C&B5+6&%/5"#/4&O211&6"0$&"&/+6$L"/0&&

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a-%'!$.'!)#'!0$7+!-:!;.'5(65!.'$07!5'$/+!$%0!

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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8/14/2019 Bates 141 10 Changes in 2009

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4$.0+!(%!"#(%$!.-+'!?7!U\m!)-!HQ]!5(//(-%8!$%0!,()#!HQ]!?(//(-%!76$%!+;'%)!-%!)#'5

J#(+!#6&'!6;)$B'!,$+!'%4-6.$&'0!?7!)#'!&-3'.%5'%)8!$+!*+($!J(5'+!.';-.)'0F!!!

K

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144

)#'!*Z*"!.'&(-%!(%!oI!PQQR8!,#(4#!

%-,!.$%B+!)#(.0!(%!)#'!,-./0

)#'!.'&(-%8!$%0!5$%7!-)#'.!4-6%).('+!

#$3'!+''%!+#$.;!:$//+

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;-(%)+!)-!'%0!)#'!7'$.!$)!^`

!!

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?'4-5'!$!)#(%&!-:!)#'!;$+)!?'4$6+'!)#'!4()72

+)$)'!#$+!.'4-.0'0!()1+!/-,'+)!4-%+65'.!

4-%:(0'%4'!(%!#(+)-.7

?+*B2%#$6&2%&=1:66$#2*C&k-$"#$*2*C&k&B"/$&%"82*C&

71"%#2/&"8$5%2+*&J#'!&/-?$/!:(%$%4($/!4.(+(+!(+!4$6+(%&!

*+($% 4-%+65'.+ )- .' '3$/6$)' )#'(.

8/14/2019 Bates 141 10 Changes in 2009

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145!!

*+($%!4-%+65'.+!)-!.'2'3$/6$)'!)#'(.!

;.(-.()('+

4-.;-.$)(-%+!$.'!+)(//!(%)$4)8!#-,'3'.!)#'.'!(+!$!:'$.!$4.-++!)#'!*+($+!)#$)!

)#'!,-.+)!(+!7')!)-!4-5'2*C&2#&%"B$&*!d('/+'%!+)607!6%0'.)$B'%!(%!oI!PQQR!+#-,+!)#$)!K(%&$;-.'$%+!;/$%!)-!+/$+#!:.(3-/-6+!

'9;'%0()6.'

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146!!

Source: Nielsen Global Consumer Confidence Survey, 2008

71">2*C&2#&%"B$&K;'%0(%&!-%!

'9).$3$&$%4'+8!+64#!$+!

-6)2-:!#-5'!

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147

'%)'.)$(%5'%)!$%0!

#-/(0$7+8!,(//!?'!46)!?$4B!

$%0!.(+B7!(%3'+)5'%)+!(%!

+)-4B+!$.'!+''(%&!$!0'4/(%'

;/$7!()!+$:'!$%0!;/$%!

$#'$0!?7!;6))(%&!5-%'7!

(%)-!+$3(%&+!$%08!

(%4.'$+(%&/78!.')(.'5'%)!:6%0+

!!

Source: Nielsen Global Consumer Confidence Survey, 2008

f(+)-.(4$//78!*+($%+!#$3'!?''%!?(&!

+$3'.+

@ (//( ( 1 /(: : #(/ #

@"82*C&2%&6"02*C&"&/+6$L"/0&

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@5(//(-%$(.'1!/(:'!:-.!$!,#(/'8!)#'!*+($+!,(//!+''!:.(3-/()7!+4$/'0!?$4B!

$%0!$!.')6.%!)-!+$3(%&!,(//!'%+6'

c3'.7!+(%&/'!4-6%).7!(%!)#'!@J-;!HQ!

;6))(%&!(%)-!+$3(%&+1!(+!0.$,%!:.-5!

)#'!*+($+8!,()#!$%!$3'.$&'!-:!^Im!+$7(%&!)#(+!(+!#-,!)#'7!,(//!6+'!

)#'(.!0(+;-+$?/'!(%4-5'

4-5;$.'+!)-!I^m!&/-?$//7

!!

Source: Nielsen Global Consumer

Confidence Survey, 2008

?+*%:6$5%&"8+2

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149

e%!l$;$%8!(%3'+)5'%)!).6+)!

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,#-!(+!+''(%&!$!.'%','0!.(+'!(%!0';-+()+!$:)'.!/-+(%&!$.-6%0!lZhHQ!

).(//(-%!;'.!7'$.!;.'3(-6+/78!(%!

+$3(%&+!)-!+'9('.!(%3'+)5'%)!

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,#-!(+!+''(%&!$!.'%','0!.(+'!(%!0';-+()+!$:)'.!/-+(%&!$.-6%0!lZhHQ!

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E*%:5"*/$&L++6&e%+)'$0!-:!?-..-,(%&!5-.'8!

4-%+65'.+ $.' +)$.)(%& )- ;.-)'4)

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4-%+65'.+!$.'!+)$.)(%&!)-!;.-)'4)!

,#$)!)#'7!#$3'

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e%!+;()'!-:!(++6(%&!$!;.-:()+!,$.%(%&8!"#(%$!T(:'u+!;.'5(65!

.'3'%6'!.'$4#'0!SAD!PU]

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.(+B!(%3-/3'0!,()#!?--B(%&!$!:/()!$%0!

;.-3(0(%&!4-%+65'.+!,()#!$!.'$+-%!)-!;6.4#$+'

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&')!)#'(.!5-%'7!?$4B

!!

71"**2*C&"4$"

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'94'++!$%0!'/(5(%$)(%&!.(+B8!)#'7!$.'!.'

'3$/6$)(%&!)#'!%'4'++()7!-:!'3'.7!;6.4#$+'!)#'7!5$B'M!'3'%!-%'+!)#$)!$.'!$::-.0$?/'

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!!

d-!/-%&'.!0-!;'-;/'!?67!,()#-6)!)#(%B(%&!-:!)#'!4-%+'L6'%4'+

8/14/2019 Bates 141 10 Changes in 2009

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),(4's!e%!PQQU8!5-.'!;'-;/'!,(//!?'!.'%)(%&!

(%+)'$0!-:!-,%(%&

(T')h-68!(+!$!,'?+()'!)#$)!#--B+!bK!

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5$.B'0!(%4.'$+'!(%!)#-+'!,#-!

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D.$%0!?4"*C$7+2*#&C;;-.)6%()7!

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J#'!)(5'!#$+!4-5'!:-.!?.$%0+!)-!#'/;!4-%+65'.+!+$3'8!.$)#'.!)#$%!+;'%0

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8From attitudeTo gratitude

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I4$&?4"*C$&

>)%5*$0##%#1?*$;0&$055$06(1#$-%'?%',$#1&$#)+(1,)$

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"#$//'%&(%&!)(5'+!,(//!+''!;'-;/'!4.$3(%&!5-.'!;-+()(3'!

(0'$+!)#$)!+;.'$0!$!4#''.

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!2112+*"25$&

J/#282%6&S(4#$.0!D.$%+-%!,$+!

%$5'0!"()(>'%!-:!)#'!h'$.!

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4-55()5'%)!)-!:6%0(%&!

&.''%!'%'.&7!+-/6)(-%+

!!

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I4$&C1+L"1&%$"5/4&B+5&5$

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V"$6+'+W!(+!-%'!-:!)#'!5-+)!

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C1+L"11>&&

!!

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)# / ) HU`Q1 */ B )# VA

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Source: WGSN

)#'!/$)'!HU`Q1+

a'%'.$)(-%W8!)#'+'!7-6%&!;'-;/'!#$3'!

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!!

But now Chinese Youth Are Becoming Big Givers

Q+OZ&Y92##1$&R6=$5+5%\&"5$&L$/+62*C&Y!2C&H28$5%\&&

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8/14/2019 Bates 141 10 Changes in 2009

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E*&3"1">%2"Z&

$;=$/#"#2+*%&B+5&

C1+L"1&L5"*!!

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=5$62:6&+*&

=+%2#28$ #42*02*C

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Z';+(1+!%',!/-&-!(+!$//!$?-6)!

6%$06/)'.$)'0!;-+()(3()7

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8/14/2019 Bates 141 10 Changes in 2009

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Halfull by Kay Rosen

7$+=1$&"5$&>$"5*2*C&B+5&6+5$&=+%2#282#>Z&

5$/2=5+/2#>&"*

8/14/2019 Bates 141 10 Changes in 2009

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a.$::()(!B%())(%&!

v!"-(%'0!?7!D$)'+!HIH!

d+1:*#+:52%6&S()>2"$./)-%1+!a(3'!D$4B!a')$,$7+!;.-&.$5!&(3'+!#-)'/!&6'+)+!)#'!-;;-.)6%()7!)-!3-/6%)''.!)#'(.!)(5'!)-!(5;.-3'!$%0!$++(+)!)#'!/-4$/!4-556%()7!(%!,#(4#!)#'7!$.'!3$4$)(-%(%&

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/':)-3'.!&$.?$&'

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)-!'$.%!()

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9From high techTo slow tech

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G$=$*

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J#'!)7;(4$/!?6+(%'++!).$3'/'.+!?$&!(+!4/6))'.'0!,()#!&$0&')+8!4$?/(%&!$%0!

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VD7!/(3(%&!-6),$.0/7!5-.'!+(5;/'8!,'!$.'!(%,$.0/7!5-.'!.(4#

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`Pm!-:!bK!"-%+65'.+!,(+#!)-!@0'24/6))'.!)#'(.!/(3'+1!Y(1+/*X$

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8/14/2019 Bates 141 10 Changes in 2009

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+(5;/(4()7!3($!)#'(.!,'?+()'

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!Y%4.5%/%#C$%&$'(;$#(1/)%',$*2*+C#)%',$;*$?(7

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