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What slowdown? Chinese shoppers set new 'Singles' Day' spending record
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What slowdown? Chinese shoppers set new 'Singles' Day' spending record
Chinese consumers spent a record amount on Alibaba platforms Monday during the annual 'Singles' Day' buying spree, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US singer Taylor Swift. China's economy is in an extended slowdown exacerbated by the US trade war, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy. US President Donald Trump has repeatedly said his tariffs on Chinese goods have put the country's economy on the ropes, but the state-run tabloid Global Times said the shopping figures proved otherwise.
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