【单选题】

More than any other industry, the luxury-goods business needs people to feel good about spending money. So at a recent conference in Moscow,BernardArnault, the head of Moet Hennessy Louis Vuitton (LVMH), the world’s biggest luxury-goods group, went to great lengths to dismiss investors’ fears about the impact on the industry ofAmerica’s credit crisis, a possible recession and the weak dollar. Indeed, Mr.Arnault said he expects the industry’s sales almost to double in the next five years, thanks to strong demand from emerging markets and the creation of new wealth across the globe.

After a depressing period at the beginning of the decade when the terrorist attacks inAmerica, the outbreak of SARS and the war in Iraq reduced international travel and people’s appetite for frivolous things, the industry has had three excellent years.According toBain, a consultancy, sales of luxury goods grew by 9% in 2006 to 159 billion ($ 200 billion) and will reach about 170 billion this year, which would double the 1996 figure.Europe remains the biggest market, with about 40% of sales, though the strongest growth is inChina, Russia, the MiddleEast and some LatinAmerican countries.
Can the industry really double again in half the timeAnalysts atCitigroup say thatChristmas will be good this year for luxury-goods firms, but they are more cautious about next year because of worries about falling demand inAmeric
A、It is tempting to think that luxury goods are isolated from the broader economy, because customers are rich enough to ignore it, says Luca Solca, a luxury-goods analyst.But the industry’s expansion into a broader "aspirational" market, by selling to the merely affluent, makes it susceptible.
And as luxury firms expand inAsia and theAmericas, they will continue to suffer currency woes. Most of the industry’s production is in the euro-zone, mainly in France and Italy.Even the optimistic Mr.Arnault complained at his firm’s recent annual meeting that the euro had reached "incomprehensible" levels against the dollar and the yen. Luxury companies could shift more of their production to countries with weaker currencies and cheap labor (ie,China), but some customers-especiallyAsian customers-want the elitism and craftsmanship associated with products manufactured inEurope.
At least sales in emerging markets are growing fast.But Melanie Flouquet, a luxury analyst at JPMorgan, an investment bank, says that this growth is not enough to offset a slowdown inAmeric
A、Chinese and Russian consumers account for around 7% and 4% of global luxury sales respectively, compared with 16-18% forAmericans.Even so,European firms are sticking to their plans in New York,America’s fashion capital. Gucci will open its biggest shop in February in Trump Tower, a shiny skyscraper on New York’s FifthAvenue.Ermenegildo Zegna will also open a shop on FifthAvenue next year.And this weekDolce & Gabbana re-opened its spruced-up shop on MadisonAvenue.
ClaudiaD’Arpizio ofBain thinks luxury makers need to follow GiorgioArmani and segment their customers more carefully with different product lines at different price ranges. She predicts that the industry will see solid growth rates of up to 10% a year in the near term. This means that the industry could double in ten years-by which timeChina is likely to account for more than a quarter and maybe as much as a third of the world’s consumption of luxury goods. Yet Mr.Arnault’s rosy prediction seems unlikely to come true.AsAmericans tighten their purse-strings, over-optimism is a luxury even this industry cannot afforD、
According to the text, what is the traditional view towards the relationship between luxury industry and broader economy
A、The better the economy is, the more profit the luxury industry can get.
B．The worse the economy is, the more profit the luxury industry can get.
C．Its sales volume depends