Group 1 - The first "Chinese Culture in Peru" photography competition award ceremony was held in Lima, Peru, attended by notable figures including the Chinese Ambassador to Peru, Song Yang, and representatives from the Peruvian government and media [1][3] - Ambassador Song Yang emphasized the strong partnership between China and Peru, highlighting the importance of cultural exchange and the embassy's support for similar initiatives in the future [3] - The competition, organized by "Peruvian People’s Daily," "Today China" magazine, and "Public Opinion" newspaper, received significant attention and participation from various sectors in Peru, showcasing the theme of "Cultural Integration and Shared Beauty" [3][4] Group 2 - The photography competition featured works from the Chinese community, overseas Chinese groups, and employees of Chinese enterprises in Peru, capturing the essence of Chinese culture's presence and development in Peru [3] - A panel of experts evaluated the submissions, resulting in the selection of outstanding works that reflect emotional resonance and cultural innovation between the two nations [3] - The organizers aim to enhance the understanding and appreciation of Chinese culture among the Peruvian public, fostering deeper cultural exchanges and strengthening bilateral relations [4]

Core Viewpoint - A plush toy from China, Labubu, is creating a speculative frenzy in Europe and the US, surpassing even cryptocurrency trends, indicating a shift in traditional business logic and market rules [1][2]. Group 1: Market Dynamics - The hashtag Labubu on TikTok has garnered hundreds of millions of views, showcasing the intense fan engagement and excitement surrounding the toy [3]. - Labubu's offline sales are exceptionally strong, with consumers queuing for hours at Pop Mart stores, and new releases selling out within seconds, often leading to bidding wars where prices can double or triple on resale platforms [5]. - Due to the chaos caused by the rush to purchase, Pop Mart has had to suspend all Labubu sales in the UK [7]. Group 2: Cultural Impact and Consumer Behavior - Labubu's popularity is rooted in its unique blind box purchasing model, which turns buying into a ritualistic experience, combining elements of gambling and excitement [12]. - The character serves as a status symbol in the fashion world, with its presence at major events like New York Fashion Week, reflecting a trend where owning rare or fashionable Labubu toys signifies cultural sophistication [14]. - The phenomenon aligns with the "lipstick effect," where consumers opt for small luxuries during economic uncertainty rather than high-priced items [14]. Group 3: Modification Trends - Initially, consumers were excited about purchasing authentic Labubu toys, but this quickly evolved into a trend of modifying the toys, such as giving them exaggerated features like long eyelashes and enhanced body shapes [15][18]. - The trend of modifying Labubu has gained traction on social media, with videos showcasing these transformations going viral, despite the risks associated with such procedures [20]. - The rise of "Lafufu," a knockoff version of Labubu, highlights a growing market for cheaper alternatives, with some consumers preferring these for their quirky and imperfect characteristics [34][36]. Group 4: Cultural Exchange - The global Labubu craze exemplifies a blend of consumer psychology, social media influence, and cultural exchange, where both Chinese and Western markets are influencing each other's trends [36].