Chinese shoppers splash on luxury goods, but still won’t eat out, Economy

HONG KONG (BLOOMBERG) – Chinese consumers are back to binging on luxury handbags, cosmetics and cars. But this shopping enthusiasm is not extending to mass consumption in sporting goods, beer and restaurants. An uneven recovery is under way in China as the world’s biggest consumer market also becomes one of the first nations to rebound from the coronavirus pandemic that continues to ravage the global economy. Bored after months of strict social distancing measures and unable to vacation overseas, wealthy Chinese consumers are seeking comfort in retail therapy. This bodes well for dozens of luxury goods makers whose growth was…