Nike and Adidas become status symbols in China

09/12/2011 | CNBC

Yifan Zhang, a 25-year-old university teacher, recently bought a pair of Nike basketball shoes that cost him almost double that of a domestic brand as it has become desirable in China to be seen in foreign brands. "Nowadays in China you do pay attention to other people's opinion of you," Zhang said. "If you choose something like Li Ning and Anta people will say well, this kid is not rich enough to afford brands like Nike and Adidas."

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