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Alternatively, households stop buying expensive foreign goods and substitute cheaper but potentially inferior domestic goods (eg. baby formula that may be laced
by 9nGQluzmnq3M 7y ago
Alternatively, households stop buying expensive foreign goods and substitute cheaper but potentially inferior domestic goods (eg. baby formula that may be laced with melamine). So domestic manufacturers can still win, even if households don't.
- mattrp 7y agoI’m under the impression - perhaps incorrectly - that a big portion of foreign goods are related to mobile phone services purchased from overseas vendors. It’s possible some of this can’t be substituted...but I don’t know what percentage of spending this represents.
- 9nGQluzmnq3M 7y agoThat sounds unlikely, given that Google's Play Store is blocked in China and everybody uses local stores instead.
- ww520 7y agoThat's if the foreign goods are substitutible.