The Splendor of Moscow and Shanghai: A Comparative Study of Russia’s and China’s Luxury Markets, Middle Classes and Consumer Behavior

In recent years, China’s and Russia’s middle classes have been mushrooming in size and appetite for fine goods, feeding the global luxury industry. While sharing many similarities, such as a common authoritarian, communist heritage, China’s and Russia’s consumers are marked by differences, social, cultural and economic. This research endeavor will flesh out these differences and similarities in a multicultural, multifaceted and necessarily multidisciplinary fashion. This paper will explore the capabilities and preferences of Russia’s and China’s rising middle classes, as well as variables affecting consumer behavior, in a comparative study. Given the breadth of the subject matter, this research paper draws from a variety of sources in political and economic history, economic theory, macroeconomic evidence, cultural, psychological and sociological concepts, and news media.