The message for restraint and austerity flies in the face of the need to rebalance the economy from a manufacturing/export led one to a consumer led one.
LA Times: “President Xi Jinping is pressing the Communist Party’s elite to cut back on lavish living amid growing public resentment. The economic effect is far-reaching.
BEIJING — Exports of elegant Swiss watches to China have plunged. Sales of Mercedes-Benz and other premium sedans are slowing. And high-end restaurants, coming off their worst Chinese New Year festival in years, are starting to change their menus to lure ordinary families.
At a Montblanc shop in downtown Beijing, sales clerks recall the days when they rang up as many as 10 of the top-selling fountain pens every day. And never mind the $1,400 price tag: The platinum-plated pen capped with a half-carat diamond was a particular favorite. Nowadays the store sells one such pen every two to three days, said a saleswoman surnamed Ren, adding sadly that her pay is commission-based.”
CHINDIA ALERT: You'll be living in their world, very soon 
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