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141 Main News: Art Businesses Reel from Market Downturn
By Annette Meier
The Piazza of K11 Art Mall in Tsim Sha Tsui, Hong Kong, 2022. Courtesy Wikimedia Commons.
Amid a sharp decline in the international art market and in China’s economy, industry giants—including the international auction house Sotheby’s and the Hong Kong property conglomerate New World Development (NWD)—have faced severe financial woes.
