European markets have received a big lift from the global boom in luxury sales – a piece of unambiguously good news for the region.
Nonetheless, this success story also raises a troubling question: has Europe become too reliant on a sector many see as a symbol of decadence?
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Financial Times
Ruchir Sharma is a writer and investor, and the author of four books, including most recently "The 10 Rules of Successful Nations". He is chairman of Rockefeller International.
