A SHIFT IN THE MOOD: CHINA BANS LUXURY GIFT COMMERCIALS

A SHIFT IN THE MOOD: CHINA BANS LUXURY GIFT COMMERCIALS

courtesy PPR Holdings/Gucci group

China's mood on foreign luxury goods seem to have soured.  Not the population's of course, but that of the economic watchdogs of the Chinese government.

In a late move which is making many head turn, the Chinese government has banned advertisement for certain luxury goods, in an attempt to stem the growing habit of conspicuous consumption and decadence that is hitting the markets, courtesy of the growing middle and upper class. 

The effort has been branded by the authorities as an attempt to cut down on 'extravagance and corruption'.  In fact the habit of giving significant gifts is common during the Chinese new year, which starts this week.  And since the economic boom the country has experienced, more and more often the prized possession has become synonymous with luxury brand goods.  

As the government is trying to bridge the increasingly wide gap between the rich and the poor, even approving a plan that would increase the minimum wage by 40%, the Chinese government is also hard pressed to repress what is a growing consumerism and attachment to material things.  

This, the government contends, fosters corruption and the erosion of much taunted values such as thrift and modesty.  The whole of the Chinese tradition, especially since the revolution, has been founded on principles that clash direclty with the new found appetite for capitalistic acquisitions.

Indeed such shifts have occupied a central place in the conscience of the political mind.  The thirst for a more capitalistic 'opening' of the country and the significant divide between the have and the have-nots is a major threat to political stability, since such divide is the main source of strife and malcontent in the poorest citizens.

Source : BBc news 2.6.13