Shaun Rein, managing director of China Market Research Group, says that he remains bullish on Pop Mart's prospects in the long-term even though its revenue might be slightly weaker in the near-term, and that he's not concerned about any potential boycotts of American products in China.

Beijing

Economic uncertainty is influencing Chinese consumer behavior, with many opting for affordable premium products over high-end luxury goods. Analysts note that brands like Pop Mart are expected to perform well in the medium to long term, despite some short-term sales weakness due to price sensitivity among younger consumers. The current market sees older women and international tourists driving sales, particularly as China eases visa restrictions for several countries.

Despite ongoing geopolitical tensions, there is little evidence of widespread boycotts of American products. Chinese consumers are prioritizing value and brand equity over product nationality, with brands like Ralph Lauren and Hoka seeing strong demand. Domestic brands such as Xiaomi and BYD are also gaining popularity due to their competitive pricing and quality, reflecting a pragmatic approach among consumers amid economic anxiety.

Economic anxiety determines Chinese consumers' choices, analyst says

So luxury may not be doing so well but what about the likes of Pop Mart and LeBoubou? We just saw Tim Cook there get his one-of-a-kind LeBoubou all decked out in his own likeness. What do you make of these kind of blind boxes, you know, more mass market kind of goods? So medium to long term I'm very bullish on Pop Mart. So right now consumers are anxious, so they're trying to buy something that's premium or luxury but still affordable. So it's kind of like the Chinese version of the lipstick effect. So Pop Mart over the next, you know, 6 to 24 months is going to do very well. I think their numbers are not so great coming out after August because they launched the mini LeBoubou for about 79 RMB while the larger size is 99 RMB. So what we found in interviews is that 20 something female consumer was angry and actually quite angry that the price was 79. They felt that it wasn't cheap enough and so they stopped buying. What we've seen when interviewing consumers in stores in China in the last month is that it's 40 and 50 year old women who are still driving sales and it's actually tourists. Because China has gone visa free for a lot of countries, you're seeing a lot of Thais, a lot of Malaysians, a lot of South Koreans are coming to China to buy LeBoubou, another IP that they can't get in their home countries. So in the short term I think some of the numbers are going to be weaker than people expect but in the long term Pop Mart is still a buy. It's got great IP, it's got great brand equity and it's the right price point for consumers who want to indulge a little bit when they're worried over real estate and the geopolitical overhang. Tim Cook is in China to promote the iPhone 17 and the iPhone Air order starting on Friday and they only hit actually the market next Wednesday. In terms of the trade war and the impact for Chinese consumers willingness to buy American goods, how is that doing? So I'm not concerned about boycotts of American products. I'm not seeing the guochao or nationalism trend you know really be hot and heavy where consumers will say we're only going to buy domestic Chinese brands. Actually because of the anxiety they want to buy whatever is the best product at the best price point with the right brand equity regardless of nationality. Which is why you can see sales of Ralph Lauren even though the whole luxury sector isn't doing very well. Chinese are going crazy for Ralph Lauren products because that premium luxury prep school image is hot right now in China. Hoka the running shoe company is also booming because you see people are going out and running like crazy now. Ten years ago you wouldn't see people in China running outside because the pollution was too high. You know I would run around Century Park every morning and I wouldn't see anyone. Now you see tons of people from their 20s all the way up to their 70s running around Century Park every morning and a lot of them are wearing Hoka shoes again from the United States. So I'm not worried about boycotts on American products right now. Consumers just want what's best. Now the reality Emily is most people are buying Chinese brands like a Xiaomi like a BYD because they're as good if not better than the American brands and they're 30-40% cheaper. Right now I'm using a Xiaomi phone to do this interview with you because it was 30-40% cheaper than an iPhone and you know what I wanted to save my RMB. I didn't want to go out and splurge so I replaced my iPhone with a Xiaomi phone.

The Trump administration is awaiting word from the Supreme Court after asking it to allow the immediate deployment of National Guard troops to Illinois to protect Immigration and Customs Enforcement officers. A lower court blocked the move.

Portland

Tensions rising in Portland, Oregon over immigration tactics

President Trump posted a video of a U.S. military strike on a submersible suspected of smuggling drugs. Two people were killed in the strike but the survivors were brought to a Navy ship. Trump says the U.S. will send the them back to their home countries for prosecution.

Washington

Trump says survivors of U.S. drug submersible will be sent home

The U.S. State Department issued a warning that Hamas appeared to be planning an attack 'against Palestinian civilians,' warning that such an attack would 'constitute a direct and grave violation of the ceasefire agreement'.

Tel Aviv-Yafo

Middle East Conflict

State Dept. flags ceasefire violation by Hamas

Britain's Prince Andrew said on Friday he would give up using his title of Duke of York following years of criticism about his behavior and connections to the late U.S. sex offender Jeffrey Epstein.

Windsor

Prince Andrew gives up title of Duke of York

Ukrainian President Volodymyr Zelenskiy came to the White House on Friday looking for weapons to keep fighting his country's war with Russia, but met an American president who appears more intent on brokering a peace deal than upgrading Kyiv’s arsenal.

Ukraine Invasion

Trump pauses on sending Tomahawks to Ukraine

Tension is rising between the U.S and Venezuela. The latest threats from the US warning of stronger measures against Nicolas Maduro’s government — have sparked both fear and fragile hope across Venezuela.

Caracas

Venezuela on high-alert amid U.S strikes

In the aftermath of a destructive Typhoon Halong, historic floodwaters have destroyed remote communities across western Alaska, forcing hundreds of evacuations that could continue for days.

Kipnuk

Mass evacuations in Alaska after record floodwaters

Mr. Trump seemed open to trading U.S.-made Tomahawk's for Ukrainian-made drones, but then he argued Ukraine might not even need new weapons if he can broker a swift end to the invasion.

Trump says he'd rather broker peace than send Tomahawks to Ukraine

President Trump announced that he has commuted former New York Rep. George Santos' sentence on Friday in a post on his social media platform Truth Social.

President Trump commutes George Santos' sentence

The head of the World Trade Organization said on Thursday (October 16) she is urging the U.S. and China to de-escalate trade tensions, warning that a decoupling between the world's two largest economies could reduce global economic output by 7% over the longer-term.

WTO urges U.S., China to ease trade war or risk global growth

John Bolton pleaded not guilty at a Maryland federal court on Friday (October 17). This comes after the former Trump administration national security adviser was indicted on 18 counts for his alleged mishandling of classified information.

Greenbelt

John Bolton pleads not guilty to criminal charges

Buckingham Palace announced Friday that Prince Andrew is giving up his royal titles. This comes after a posthumous memoir by Jeffrey Epstein accuser Virginia Roberts Giuffre emerged.

London

Prince Andrew giving up his royal titles, Buckingham Palace says

U.S. President Donald Trump is meeting at the White House with Ukrainian President Volodymyr Zelenskyy Friday as the war between Russia and Ukraine continues. On Thursday, Trump spent more than two hours on the phone with Russian President Vladimir Putin.

Trump set to meet with Zelenskyy

Ahead of a meeting with Ukrainian President Zelensky, Trump cast doubt on supplying Tomahawk missiles to Kyiv, citing U.S. stock concerns. He also discussed the issue with Russian President Putin, who opposed the idea, raising questions about future Ukraine aid.

Trump questions sending Tomahawks to Ukraine after Putin call

At least one person was killed and dozens of police officers injured in widespread protests overnight in Peru against President Jose Jeri, who assumed power just days ago. The government will declare a state of emergency in Lima within hours and is preparing a package of measures to tackle rising insecurity.

Lima

Peru to impose state of emergency after violent clashes

The espionage case against Christopher Berry and Christopher Cash collapsed after government officials refused to testify under oath that China posed a threat to national security.

MI5 chief warns China a ‘daily threat’ after spy case collapse

NATO is increasing its capabilities on its eastern flank after recent Russian drone incursions. At the same time the EU has announced a major defence policy roadmap aimed at deterring threats from Russia.

Šiauliai

NATO, EU step up defences to deter Russia

The U.S. military flew three B-52 bombers on missions near the coast of Venezuela, according to a Global Strike Command spokesperson and a U.S. official, as the Trump administration continues to exert pressure on Venezuelan President Nicolás Maduro's government.

U.S. flies B-52 bombers off the coast of Venezuela

A federal judge overturned a Homeland Security decision to cut anti-terrorism funding for New York City. The ruling comes as the Trump administration faces lawsuits from Democratic governors over similar cuts.

New York

Judge blocks Trump cuts to New York City's anti-terrorism funds

China has accused the U.S. of stoking panic over its rare earth controls and said Treasury Secretary Scott Bessent had made "grossly distorted" remarks about a top Chinese trade negotiator, rejecting a White House call to roll back the curbs.

Global Tariffs

China blames U.S. for global panic over rare earths controls

U.S. President Donald Trump on Thursday said he had a "productive" phone call with Russian President Vladimir Putin and announced plans for a meeting with Putin in Hungary.

Trump says he plans to meet with Putin in Hungary

Israel said it was preparing for the reopening of Gaza's Rafah crossing with Egypt but set no date as it traded blame with Hamas over violations of the ceasefire. A row over the return of bodies of hostages from Gaza retains the potential to upend the truce.

Jerusalem

Netanyahu says fight with Hamas 'not over yet'

Tumultuous scenes unfolded during the public viewing of late Kenyan Prime Minister Ralia Odinga's body. The 80-year-old's coffin was on its way to a Nairobi stadium when security forces fired tear gas and gunshots into the crowds. At least two people have reportedly been killed.

Nairobi

Kenyan police open fire at mourners at Odinga public viewing

Pakistan and Afghanistan agreed to a temporary ceasefire on Wednesday after airstrikes and ground fighting ramped up tensions between the South Asian neighbors, leaving more than a dozen civilians dead and 100 wounded.

Balochistan

Pakistan, Afghanistan agree temporary truce after fresh fighting

U.S. President Trump confirmed CIA covert operations in Venezuela during a press conference in the Oval Office on Wednesday. CBS News' Ed O'Keefe asked Trump about what that means for Nicolás Maduro.

Trump authorizes CIA covert operations in Venezuela

Israel is still limiting the number of aid trucks allowed to enter Gaza nearly a week after a ceasefire deal was agreed. It’s told the United Nations will only allow 300 per day - that's half the minimum number agreed under the truce.
The UN says even 600 trucks entering daily would not be enough to meet the needs of the population.

Gaza ceasefire fears as Israel limits aid trucks to less than agreed

President Trump confirmed that he has authorised the CIA to go into Venezuela and conduct covert operations.

Trump says he authorised covert CIA operations in Venezuela

Hamas is back on the streets of Gaza in an attempt, it says, to restore law and order -- and to send a message.

Hamas executes Palestinians accused of collaborating with Israel

A federal judge in Oregon has extended temporary restraining orders that block the Trump administration from deploying National Guard troops to Portland. Meanwhile, federal agents in Chicago used tear gas to disperse a crowd after a car chase ended in a crash.

Chicago

Federal agents deploy tear gas in Chicago despite court order

A federal judge on Wednesday temporarily ordered the Trump administration to halt the firing of workers during the government shutdown.

Breakdown