The growth of the middle class in China has been staggering over the last 15 years or so and I do agree with your statements as a whole, but how do you think th

The growth of the middle class in China has been staggering over the last 15 years or so and I do agree with your statements as a whole, but how do you think the looming recession especially with the housing and development industry of China will pair with a middle class that, as all middle classes do, will bear the brunt of this load. This is a fairly new middle class system which is in my opinion built upon a fragile foundation. China has curated every aspect of their economy to create such a class based on assumptions that are now beginning to fault as growth slows to a halt and the economy begins to suffer. I think that upper middle class luxuries, while still in demand, will not return to the former glory of pre-2020 for quite a while for this reason.