They've done a spectacular job for their clients and we continue--we're very excited about, one, we're excited about the region and two, we're excited to have a team of that quality doing real, on the ground research throughout China, which is, now, if you sort of look at the larger Chinese market, it's the second-largest market in the world, and there just aren't--there are many more world-class U.S. teams than there are world-class Chinese teams.
Rising housing costs in Shanghai, Beijing and Guangzhou have exacerbated the problem of rising inequality in China, as the major city centers become unaffordable to many middle class and lower-middle class Chinese.
Though the big shopping budgets of many Chinese tourists are sustaining the growth of the luxury-goods industry, the bus tours that escort most middle-class Chinese tourists in Europe usually book them into budget motels on the outskirts of Paris.