What’s the Labubu doll got to do with China’s economy? #bloomberg

Banking & Competition - Chinese banks are facing intense competition for customers and record low profits [2] - A Chinese bank was prohibited from using Leubu dolls as incentives due to concerns about increased costs and reduced profit margins [1] - The use of promotional tactics like Leubu dolls highlights the weakness of China's domestic economy [2] Economic Factors - Stimulus efforts, including lower interest rates, have negatively impacted Chinese banks [2] - Policymakers are grappling with deflation worries and sluggish demand in China [2] - Slower-than-expected export growth, particularly plummeting shipments to America, underscores the importance of US-China trade talks [3]