China is intensifying its crackdown on lavish spending.  South East Asian LDRs are rising above 100 all over. Investment banks are shrinking, and GEMS commercial banks may FINALLY figure out that mobile phone banking is 98% cheaper than branches.  Think about it -- US banks closed 1,500 branches across the US and branches have been declining since 2010.  GEMS banks will figure this out soon.Dubai is taking market share. Japan is really cheap now. Even Italian [...]