Chinese consumer. So I've seen reports that China's consumers have increased their consumption of domestic brands over four and ones amidst the recent trade war. I've also seen a lot of these TikTok videos of different people running sort of wholesalers out of China that are producing, let's say, Fendi bags at a fraction of the cost that it's being sold to American consumers or European consumers. I'm not entirely clear what's happening there if this is being promoted to distributors in the US, directly to consumers, to domestic consumers in China. I'm curious to understand about that too. And I'm also curious to understand how much of this reported move by Chinese consumers to domestic consumption of Chinese brands. I've seen some talk about an accelerated shift away from US consumption. How much of that move was already in the making? And how meaningful is it on the margin at the very least to possibly kind of offset some of the demand crush for Chinese production from lost overseas (13/45)
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