What China's lackluster Singles Day says about Xi Jinping and deflation

Government appears content to let prices stay depressed

20241118N Singles Day

Singles Day discounts pictured in a store at a Beijing shopping mall on Nov. 11. © AP

YUSHO CHO, Nikkei staff writer

TOKYO -- When China's mobile payment app Alipay suffered a brief service disruption during this year's Singles Day on Nov. 11, it was a fitting metaphor for just how far the country's online shopping extravaganza has fallen.

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