While this place is more rationalized than it was a decade ago, it is still a wild and chaotic immersion into the emerging consumer culture in China. In my experience, Americans are both fascinated and frightened by the need to haggle for every product. It is quite different than the predictability of the typical American department store or shopping mall. Tourists in Beijing frequent this market, although it is also common to see locals there also. Make sure to check out the toy market located directly behind this building.
You can find out more about the Pearl Market here:
http://www.tripadvisor.com/Attraction_Review-g294212-d321012-Reviews-Pearl_Market_Hongqiao_Market-Beijing.html
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