I've posted articles about materialism a few times, and more or less was about HK people (women in particular). Well, here's this generations (and next and so on) luxury shoppers -- Chinese consumers from Mainland China. Of course, people in the industry knows that already (still doesn't stop some HKers with too much money and paid US$5.6m for Andrew Lloyd Webber's wine collection). Jewellers in HK knows that come Friday, Chinese from over the border would flock to HK and buy luxury watches, rings, and other bling. Even just being a normal joe on the train around this period, you can see girls dressed up to the tee for a weekend trip to HK.
This causes problems, as pointed out by FT's article about the property prices in a massive rise.
Not sure about the great power, but definitely great responsibility to keep the HK economy from bursting.
Now all this country (Ireland, I mean) has to do is to tap into this market, if they ever pull their finger out.