BEIJING/HONG KONG: Leo Liu, manager of the sprawling Wankelai store in the Chinese capital of Beijing, spoke into a microphone, announcing progressively steeper discounts in a flash sale, until he finally sold a cotton jacket and a woman's undershirt.
In a symptom of China's deflationary economy, Liu eventually found a customer for the jacket at 20 yuan, or less than a tenth of its initial price of 239 yuan ($33), but he ended up giving away the 39-yuan undershirt, for which nobody wanted to pay.
