Asia Week celebrates art, opens amid economic slowdown

World Today

New York’s annual Asia Week kicks off Thursday. The 10-day festival brings together the world’s leading collectors and dealers of Asian art.

CCTV America’s Karina Huber reports.

Asia Week New York is the world’s largest celebration of Asian Art. While Chinese and Japanese works dominate, there are pieces from all over the region.

Many of the buyers are expected to be from China where buyers there have helped fuel the Asian art market in recent years. However with the economic slowdown in China, demand is expected to be more subdued.

Experts say the high-end market won’t likely feel the pinch, but the mid-range market where items sell for between $20,000 and $90,000, could be affected.