Europe's Luxury Firms Won't See Quick Rebound in China Demand: Artemis

The transcript discusses recent changes in Chinese economic policy aimed at stabilizing the property market and boosting consumer confidence. It highlights the potential impact of these policies on European consumer goods, noting that changes may not be immediate due to evolving consumer preferences. The discussion also covers the shift in Chinese consumer preferences towards local brands in certain categories, while European luxury brands maintain their desirability. The transcript emphasizes the need for time to see the full effects of these changes.

What does the term 'animal spirits' refer to in the context of consumer behavior?

In what ways are local brands competing with European brands in China?