The boycott of American products is very real. What we do not know is how large the impact really are. For example Hermes posted a record quarter in China again, doesn't seems to be hurt by whatever downturn there is in China.
That’s a reasonable interpretation, thanks. I’m not sure that it tells us much given that Apple and Hermès are in fairly different markets, unfortunately.
The population of people who can justify a $1k scarf is a small portion of the population who can justify $1k for the object they use for almost everything, even in China.
You can buy a scarf that works just as well for much less, and you can buy a phone that works better for Chinese consumers for much less. The reason to buy an iPhone or a Hermès scarf for a Chinese consumer is fashion.