If there was a 25% devaluation of the dollar against the yuan or 25% import duties on Chinese goods, as some highly influential US economists are suggesting, China would sink into a deep recession as exporters already operating on wafer-thin margins are plunged into insolvency. American businesses, which rely heavily on China as the assembly plant of choice, would also find itself deep in the mire.

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The Western press does not report on them. But these women are transforming China—in a big way.

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These premium brands continued to do what they do best: produce expensive but timeless classics with unimpeachable quality that will last a lifetime.

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