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"But this has come at significant cost and, as the second wave in Victoria showed, success can be very fragile."

"China has relied on digital technologies and decentralised economic policy to drive up consumption, rather than centralised stimulus payments through direct deposits or debt-financed guarantees as seen in Australia," they wrote.

"China is a market that really values premium brands, and it seems to put a real value on premium Italian brands. Alfa Romeos have always been built in Italy."

"But the problem is, the aviation industrial players of other countries can't really stand as rivals to the US and Europe, given the current global aviation industry competition scenarios. The suggestion from the EU is more like something to mediate disputes and ease the situation, while the US is eager to crack down on the EU, and excuses can't really convince the US."

"China is definitely a highly dynamic market for luxury brands, which see growth momentum largely coming from the country," Zhang told China Daily in an interview. "With the younger Generation Z consumers shaping up to be the backbone for luxury brands, their desire for socializing, interaction and sharing are propelling us to delve into the realm of social retail."