US-China trade war blamed for Pace Gallery Beijing’s closure, but is it last straw for art market? Two views

//US-China trade war blamed for Pace Gallery Beijing’s closure, but is it last straw for art market? Two views

US-China trade war blamed for Pace Gallery Beijing’s closure, but is it last straw for art market? Two views

Art dealers are usually unrelentingly bullish about China’s market potential.Sure, China has a lot of restrictions on doing business compared with the openness of Hong Kong, but Western galleries (most recently Perrotin, Lisson and Almine Rech) have continued to open branches there to promote their artists in a market with the second-highest number of billionaires in the world, and to capture any growth in domestic transactions that may arise from tighter restrictions on capital outflow.So you…

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By | 2019-07-11T08:30:14+00:00 July 11th, 2019|Entertainment|Comments Off on US-China trade war blamed for Pace Gallery Beijing’s closure, but is it last straw for art market? Two views