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Podcast: Asia Matters Podcast
Episode: The Luckin Scandal: How 'China's Starbucks' Crashed
Description: The pandemic-related lockdown continues in much of the world but in China they are getting back to work. That gives us a chance to look into a major scandal from the business world that’s come to light in recent weeks at a company called Luckin Coffee, once billed as China’s answer to Starbucks.The company, whose shares are listed in New York, shocked investors in April when it emerged it may have simply fabricated over $300 million of revenue last year.It’s an extraordinary story, with big questions not just for Luckin’...