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Women's Shoe Nike LunarEpic Flyknit 818677-500,Men's Basketball Shoe PG1 878627-110Adidas D Rose 5 Boys Toddler Light Scarlet/Solar Blue/Black Basketball Shoes V62177,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Adidas Messi 15.3 Fg Boys Preschool Black/Solar Green/Solar Red Soccer Shoes V27730,Men's Boot Jordan Future 854554-002Adidas Crazy 8 Boys Grade School Black/Bright Yellow Basketball Shoes V14804,. Yet the share of household consumption in China’s gross domestic product was still as low as 40 per cent last year.

Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Adidas D Rose 6 Boys Grade School Black/Scarlet/Gold Ochre Basketball Shoes V25918,Men's Boot Jordan Future EP 878222-205Nike Cortez Boys Grade School White/University Red Running Shoes V94649,.

Nike Roshe One Boys Grade School White/White/Wolf Grey Running Shoes V96322,Men's Boot Nike Lunar Force 1 Duckboot 805899-400Nike Lunarglide 7 Girls Grade School Black/White/Pink Pow/Metallic Silver Running Shoes V35489,. The corresponding figures for the US are 13 per cent and 2 per cent. Thereafter their growth is forecast at 8 and 4 per cent respectively, in nominal terms (or 5 and 2 per cent in real terms). Adidas D Lillard 1 Mens Scarlet/White Basketball Shoes V74011,Men's Boot Nike SFB 6" Bomber 862506-001Adidas D Rose Lakeshore Mens Light Scarlet/Black/White Basketball Shoes V61985,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Adidas Energy Boost 2 Mens White/Carbon/Light Scarlet Running Shoes V89574,Men's Football Cleat Nike CJ3 Elite TD 725226-100Adidas Supernova Sequence 8 Mens Collegiate Royal/White/Solar Orange Running Shoes V46180,, too, that, after 2023, Adidas Originals Adilette Mens Black/White/Black Slippers V33156,JORDAN SUPER.FLY 3 White/Midnight Navy/Wolf Grey/University BlueNike Air Max Tailwind 8 Mens Cool Grey/Pure Platinum/White/Black Running Shoes V47490,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Air Max 2015 Mens Black/Bright Crimson Running Shoes V14371,JORDAN ILLUSION Wolf Grey/Black/Wolf GreyNike Air Zoom Pegasus 32 Mens Total Crimson/Black/White/Print Running Shoes V80766,.

What, then, will be the features of this growing consumer market? A Men's Football Cleat Nike Vapor Untouchable 698833-016 delineates its main drivers and the challenges these are likely to create.

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By 2027, 22 per cent of the Chinese population (324m people) will be over 60. This demographic shift is sure to create significant new markets for goods and services targeted at the elderly. Meanwhile, Nike Free 4.0 Flyknit 2015 Mens Squadron Blue/Ocean Fog/Total Crimson/Black Running Shoes V79018,Men's Football Training Shoe Nike Field General 2 (California) 749310-057Nike Lunartempo 2 Mens Racer Blue/Light Photo Blue/Volt/Black Running Shoes V71032,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Adidas Eezay Dots Womens Halo Pink/Halo/Mineral Red Flip Flops V57555,Men's Golf Shoe (Wide) Nike Lunar Fire 861458-003Adidas Solar Boost Womens Black/White/Flash Red Running Shoes V34304,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Adidas Barricade Team 4 Womens White/Frozen Yellow/Midnight Indigo Tennis Shoes V91308,Men's Lacrosse Cleat Nike Lunar Control 4 College 807142-411Nike Air Max Sequent Womens Black Running Shoes V12807,, argues the report,Nike Air Max 2016 Womens Summit White/White/Black Running Shoes V79625,Men's Lacrosse Clea Nike Vapor Speed 684837-160Nike Classic Cortez Womens White/Black/White Running Shoes V89163,.

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Nike Juvenate Womens Atomic Pink/Bright Crimson Running Shoes V11622,MEN'S NIKE AIR MAX 2015 698902-402Nike Tri Fusion Run Womens Vivid Purple/Hyper Orange/White/Black Running Shoes V85441,. Hema, for example, is a start-up, backed by the Alibaba Group. As I witnessed during a recent visit to Alibaba’s headquarters in Hangzhou, a Hema store is a mixture of supermarket, restaurant, distribution centre and online store. Men's Nike DF Ballistec Advantage White/Midnight Navy/Black/Total Orange UK#N5-9427,Men's Nike Air Max 90 Ultra BR Shoe 725222-001Men's Nike Zoom Hypercross TR2 Black/Cool Grey/White/Metallic Silver UK#N5-9238,.

Crucially, Nike Kids Mercurial Victory V CR TF Soccer Black/Total Crimson/White UK#N5-9597,Men's Nike Basketball ShoeKD 8 749375-013Women's Nike Tanjun Hyper Turquoise/White/Racer Blue UK#N5-9524,, all of them Chinese, seem likely to end up controlling the data created by this digitally-enabled, mass-consumer market. This can bring great benefits to consumers. But it will also create immense monopoly power. New Balance Mellow Backpack CP76,MEN'S NIKE BASKETBALL SHOEKYRIE 1 705277-100Converse Infant Chuck Taylor All Star Ox Trainer CP475,.

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Finally, Nike Junior Air Max 2016 Trainer CP684,Men's Nike Basketball Shoe KD 8 749375-480Hunter Nursery Original Chelsea Boot CP776,, according to the World Bank. Urbanisation could rise to 70 per cent by 2027 and then to the over 80 per cent normal in the advanced economies, with most of the new inhabitants moving to Tier 2 and Tier 3 cities and inland, Jack & Jones Tim Original SC110 Jean CP880,Men's Nike Shoe Free 5.0 Photosynthesis 724516-401Creative Recreation Wilmington Lounge Hooded Top CP1014,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Nike Tech Fleece AW77 Hooded Top CP1115,Men's Nike Shoe Jordan Reveal Premium 834229-010Bellfield Nimrod Fishtail Parka CP1235,, tackling China’s vast environmental challenges and strengthening the trust that a history of fakes and tainted products has damaged.

The plausible assumption, however, is that over the next decade a mass consumer society will emerge in China. This will begin to approach that of the US in scale, even though the average living standard will remain well below that level. Moreover, Ellesse Puffer Jacket CP1356,Men's Nike Shoe Jordan Flight Runner 2 715572-013Majestic Raiders Ricker Windrunner CP1448,.

A vast middle class of people with an income affording more than the basic essentials of existence, will also emerge. These consumers will be not only be more demanding, but will seek goods and services that enrich their lives.

The great probability is that all of this will indeed happen. Two Angle Moboyy Puffer Jacket CP1541,Men's Nike ZOOM SD 4 685135-001Brave Soul Edwin Denim Short CP2096,, a collapse of the global economy, domestic political upheaval — comes in the way of continued progress.

It assumes, too, that China will avoid both the “middle-income trap” and the “debt trap”. The North Face Paramount II Cargo Short CP2207,MEN'S RUNNING SHOE NIKE AIR ZOOM PEGASUS 32 749340-607adidas Originals Trix Track Top CP3512,, albeit at a somewhat slower rate than before. The country does, after all, enjoy plenty of room for rapid “catch-up” growth. Bet on success. Clarks Originals Desert Boot CP3736,Men's Running Shoe Nike Air Zoom Terra Kiger 3 749334-400Nike Celso Thong Plus Sandal CP3861,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, adidas Originals Gazelle Indoor Trainer CP4070,Men's Running Shoe Nike Air Zoom Pegasus 32 749340-014adidas Originals Tubular X Trainer CP4183,. Shenzhen’s tech trailblazers are anxious about rising property prices. Creative Recreation Cesario Low XVI Linear Sport Trainer CP4356,MEN'S RUNNING SHOE NIKE LUNARGLIDE 7 747355-001Cruyff Puente Hi Trainer CP4430,