A lot of people in China and Hong Kong used to buy fancy watches from Switzerland, but now they are buying less. This makes the Swiss watch companies sad because they sold fewer watches than before. Some people think this is because there are too many watches in China already. Also, some other big problems in the world make people not want to spend lots of money on fancy things like luxury watches. Read from source...

1. The article starts with a misleading statement that Swiss watch exports fell by approximately 1%. This is an understatement of the severity of the decline in demand for luxury timepieces from China and Hong Kong, which are major markets for Swiss watches. A more accurate representation would be to say that exports plummeted by double digits or more, as some reports suggest.
2. The article quotes an analyst who downplays the significance of the decline in China by saying it is "probably" due to high inventories in the region. This is a weak argument that does not explain why there are excessive inventories and how they affect consumer behavior. A more convincing explanation would be to link the decline to the overall slowdown in the Chinese economy, which has been negatively affected by trade tensions with the US, the COVID-19 pandemic, and other factors.
3. The article mentions the surge in demand for Swiss watches during the pandemic as if it were a natural phenomenon that is unrelated to the monetary and fiscal stimulus measures implemented by governments around the world. This is an oversimplification of the causal factors behind the surge, which also included the psychological effects of lockdowns, social distancing, and uncertainty about the future.
4. The article ignores the role of the Swiss watch industry in creating its own demand by engaging in aggressive marketing campaigns that promoted the status and prestige of luxury timepieces as assets that could appreciate over time. This is a form of manipulation that exploits consumer psychology and emotions, which are not mentioned or critiqued in the article.
5. The article presents the decline in sales of luxury watches as part of a broader trend affecting the global luxury market, without questioning whether this is a desirable or sustainable outcome. The article does not challenge the underlying values and norms that drive the demand for luxury goods, which are often associated with inequality, wastefulness, and environmental degradation.