The ills of blind pursuit of pleasure

A recent news report on outdoor advertising around Beijing made interesting reading. The Beijing municipal administration for industry and commerce recently posted an announcement on its website, asking outdoor advertisers to self-evaluate and rectify by April 15 advertisements that are against regulations. It also asked advertisers to avoid ads that are in "poor taste", refer to "imperial-aristocratic elitism" and promote "hedonism and worship of things foreign".

The administration's goal is to create a "fair and harmonious" environment and beautify Beijing. Though it is a routine municipal measure, the reference to "hedonism" points to a larger issue: the status, nature and meaning of luxury goods in China.

Let us talk about the status first. Many billboards in Beijing and other major Chinese cities advertise foreign luxury goods. The Chinese luxury market is growing at an average annual rate of 20 percent. By 2015, China is expected to surpass Japan as the world's largest luxury market.