Word: gucci
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...typical weekend afternoon, Beijing's Silk Street Market buzzes with the sound of tens of thousands of tourists haggling over antiques, jewelry and knock-off Gucci handbags. Rickshaw drivers normally scoop up these marketgoers, pedal them to their hotels and return with pockets full of foreign currency - a lucrative cycle drivers can repeat dozens of times a day. In recent months, though, the Silk Street Market's once reliable bustle has thinned dramatically. "I haven't seen a single tour bus pulling into the market this morning," says Lao Qian, a 49-year-old rickshaw driver taking a long lunch...
...London on the country's southern coast to launch its campaign for re-election. Inside the city's stadium, in a pen between the stage and a sea of supporters in the ANC colors of yellow, black and green, stood the party's VIPs. Many of the men wore Gucci and the women Prada, but mixed in with them were 60 or so people, of both sexes, in combat fatigues whose camo caps identified them as veterans of Umkhonto we Sizwe ("Spear of the Nation"), the ANC's disbanded guerrilla wing. A well-dressed young man whose baseball cap announced...
...willing to pay for something that they need, or something that they want very badly. A Blackberry is a status symbol of sorts. It is certainly a device which has utility. The iPhone shares those elements and is also a much more powerful symbol of the owner's prestige. Gucci with a touchpad...
...wear or carry a single appealing object for the length of the movie. This is oddly comforting. We're officially 14 months into this recession, and many of us are not just tightening belts but swearing off shopping altogether. Confessions, perhaps inadvertently, assures us that being deprived of Gucci boots can be a good thing...
...quickly a new story can be written may depend largely upon the Chinese people becoming a whole lot better at consuming more and saving less. But, while the authoritarian government continues to pull the strings in many parts of society, Beijing cannot simply order citizens to buy Gucci for the good of the country and the world. Chinese save much of what they earn because the government has yet to provide the web of social services available in other countries. China's national social security system and government health-insurance schemes are drastically underfunded, and moreover don't cover...