The Bloomberg article was interesting. The scarring being done to the diagou channel seems somewhat permanent. Especially concerning that more Chinese consumers has been forced to try direct e-commerce, if thats been mostly positive they won't bother with overseas shoppers again. I think it highlights the risk of achoring to what A2 made pre-Covid. I not saying they will downgrade yet again, but the assumed bounce back of the diagou channel in line with tourism and travel seems like it has been disconnected.
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