L.A. Times - Asia: Restraint is the new red in China

L.A. Times - Asia Headlines from latimes.com

Restraint is the new red in China May 20th 2013, 03:38 President Xi Jinping is pressing the Communist Party's elite to cut back on lavish living amid growing public resentment. The economic effect is far-reaching. BEIJING — Exports of elegant Swiss watches to China have plunged. Sales of Mercedes-Benz and other premium sedans are slowing. And high-end restaurants, coming off their worst Chinese New Year festival in years, are starting to change their menus to lure ordinary families. Media files: 16x9

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