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Dwindling discounts threaten China's online consumer paradise

Two main causes: consolidation, and a deepening investment drought

SWALLOWED UP: Didi has acquired Uber's Chinese ops. The deal wasn't the first merger to end internecine subsidy wars, and it won't be the last.

Hong Kong

FOR the past year, Li Weiling has been living large on the cheap in Beijing, courtesy of deep-pocketed investors from around the world.  The 30-year-old advertising professional has been swinging like a sultan on a salary of just 6,000 yuan (S$1,214) a month: summoning...

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