AnewZ Morning Brief - 29th July, 2025
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 29th of July, covering the latest developments you need to kno...
China’s deepening deflation is reshaping consumer habits and forcing dramatic price cuts, with luxury goods now selling for as little as $30, and second-hand markets booming as economic pressures weigh on household spending.
A Coach handbag once sold for ¥3,260 ($454) can now be picked up at Beijing’s newly opened Super Zhuanzhuan store for just ¥219 ($30), as demand slumps and sellers flood the market.
Driving the trend is a combination of falling incomes, collapsing property values, and growing overcapacity in multiple industries, from autos to coffee. Consumer prices dropped 0.1% year-on-year in May, according to official data released Monday, reinforcing fears that deflation may become entrenched.
"The economy is definitely in a downturn," said 28-year-old Mandy Li, whose wage was cut by 10%. "My family's wealth has shrunk by a lot."
Luxury buyers like Li are increasingly turning to second-hand goods, a segment growing over 20% annually, but now oversupplied, leading to deep discounts well beyond the usual 30–40% markdowns.
Zhuanzhuan and other platforms — including Xianyu, Feiyu, Ponhu, and Plum — now commonly offer 70–90% off original prices on branded items. Some sellers say they are being pushed to the edge.
“It’s 20% more sellers every year, but buyers haven’t increased,” said one business owner anonymously. “Outside of Shanghai and Beijing, there’s no room for growth — many new stores will shut down.”
Experts warn these price wars are unsustainable, threatening the survival of businesses and possibly accelerating job losses — which could deepen the deflation spiral.
“The middle class — their salary has really decreased,” the second-hand store founder said. “That’s the number one reason we’re seeing these trends.”
Even luxury owners like Professor Riley Chang are considering selling but find the market unwelcoming.
“They push your price as low as possible,” she said. “It’s not worth it.”
Economists caution that while flash sales and ultra-cheap menus may seem good for consumers in the short term, the long-term effect could be harmful if business closures and job losses mount, further stifling economic recovery.
Вы
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Ukrainian state-owned oil and gas company Naftogaz has signed its first agreement with SOCAR Energy Ukraine, a subsidiary of Azerbaijan’s SOCAR, to import a small volume of natural gas via the Trans-Balkan pipeline.
Freight traffic on the vital Middle Corridor trade route has nearly tripled through Georgia in the first half of the year, officials have confirmed, highlighting the growing strategic importance of the South Caucasus as a key artery for commerce between Asia and Europe.
The inaugurate BRICS Motor Rally will take place from 9th to 15th August 2025, along the route from Yekaterinburg to Moscow. The event is supported by the BRICS Business Council under the chairmanship of Braz, the Russian Ministry of Foreign Affairs, and the Russian Chamber of Commerce and Industry.
Kazakhstan’s Ministry of Emergency Situations reported today (28 July) that a fragment of a military helicopter, which vanished from radar during a scheduled flight on Friday, has been found in the Almaty region.
India’s defence minister has rejected U.S. President Donald Trump’s assertion that he brokered a ceasefire with Pakistan in May, insisting New Delhi halted fighting only after achieving its military and political objectives.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment