Hard times for luxury Swiss watches as sales drop 10%

Swiss watch federation reports huge drop in exports to China as official crackdown on bribery makes it worst year for industry since 2009Sales of luxury Swiss watches dropped by 10% last year following a crackdown on corruption in China.The Federation of the Swiss Watch Industry said 2016 watch exports fell by more than 2bn Swiss francs (£1.6bn) to SFr19.4bn as the Chinese bought far fewer luxury watches, which have been used to grease the wheels of politics and commerce in the world&rsquo