China is quickly growing to become the world’s next great superpower. It is the truth. However, many people wonder what will happen in this often secluded Asian country where there is drastic increase in numbers of middle class families which mean increased purchasing power. The demand for foreign products has driven the frenzy for products such as Apple iPads and iPhones which is popular among the growing population of Chinese young adults. The upper class of China’s elite are now looking into purchasing some of the world’s most luxurious brands such as Louis Vuitton, Hermes, Armani and Versace just to name a few.

This is the power of branding, the imagery that possessing these luxury goods defines who you are as a person often commits people to greed or in many cases nowadays, creating fakes.This is a growing issue in China because often prices are so high for the real item yet the demand for these brands is ever increasing. In my opinion, I think it is good that China is opening up the markets for foreign goods, however, the government needs to crack down on those people who are committing crimes by creating forgeries that sometimes can harm people, in the case of tainted milk products.

Full Article:

Economist

http://www.economist.com/node/21542819