Calling the top in Western-Sino relations
For the past decade, China has driven global demand.
While the West fretted over fiscal deficits and, in turn, outsourced economic policy to its central banks, the People’s Republic has repeatedly turned on the fiscal taps, fueling a bull market in commodities, consumer goods and overpriced perishables.
As any fashion aficionado will tell you, the luxury goods sector has been one of the main beneficiaries of Sino-spending — with Louis Vuitton handbags, Moët champagne and Burberry coats flying off the shelves in metropolitan centres.
However, one luxury good stands shoulders above the rest: the Hermès Birkin Bag. A handbag so rare, that a Hermès store will often refuse to sell you one when it’s in stock.
So it was of little surprise when this afternoon we stumbled across this on luxury fashion site Moda Operandi (h/t to the Washington Post’s Anna Fifield for flagging).
Behold, the Chinese flag Birkin Bag:
Yours for a cool £115,962, with a £57,981 deposit. Assuming it’s in stock, of course.
Given recent geopolitical events — from China’s slowing economy to tensions in Hong Kong and Trump’s trade war — will we look back at this crocodile-skinned monstrosity in five years as the top in Sino-Western relations?
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