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Women's Shoe Nike Air Zoom Pegasus 33 849812-406,Men's Basketball Shoe Jordan Extra.Fly 854551-001Women's Shoe Nike FS Lite Run 3 807145-404,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Women's Training Shoe Nike Metcon 1 813101-005,Men's Basketball Shoe Jordan Extra.Fly 854551-003Nike Roshe One Girls Toddler Copa/White/Blue Lagoon Running Shoes V48524,. 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, Nike Air Max 90 Boys Preschool Copa/White/Blue Lagoon Running Shoes V48612,Men's Basketball Shoe Jordan Extra.Fly 854551-610Adidas D Rose 5 Boost Boys Grade School Light Scarlet/Solar Blue/Black Basketball Shoes V62199,.

Adidas X 15.1 Fg/Ag Boys Grade School Black/Shock Mint/White Soccer Shoes V26266,Men's Basketball Shoe Jordan Ultra.Fly 834268-010Nike Huarache Run Boys Grade School Black/White/White Running Shoes V37271,. 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). Nike Huarache Run Girls Grade School Black/Volt/Pink Pow/Photo Blue/White Running Shoes V30307,Men's Basketball Shoe KD 8 'Aunt Pearl' Premium 819148-603Adidas Crazylight 2.5 Boost Low Mens Branch/Cargo/Black Basketball Shoes V40740,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Adidas D Lillard 2.0 Mens Gold/Dark Grey/Green Glow Basketball Shoes V56017,Men's Basketball Shoe Kyrie 3 TB 917724-001Adidas Adizero Adios Boost 2 Mens Black/White/Solar Red Running Shoes V36486,, too, that, after 2023, Adidas Supernova Boost Glide 7 Mens Blue/Solar Orange/Collegiate Royal Running Shoes V40502,Men's Basketball Shoe Kobe XI Elite 822675-105Adidas D Rose Mens Aluminum/Black/Light Scarlet Slippers V10119,. 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 Huarache Mens Persian Violet/Black/Pure Platinum Running Shoes V68060,Converse Thunderbolt Modern Unisex Shoe 155041C-015Nike Air Max Premiere Run Mens Wolf Grey/White/Cool Grey/Anthracite Running Shoes V99669,.


What, then, will be the features of this growing consumer market? A Men's Basketball Shoe Nike HyperLive 819663-606 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 Air Zoom Odyssey Mens Wolf Grey/Cargo Khaki/Lucid Green/Black Running Shoes V97214,Men's Boot Jordan Future 854554-002Nike Free Rn Mens Heritage Cyan/Black/Blue Spark/Laser Orange Running Shoes V58022,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Lunarestoa 2 Mens Black/Dark Grey Running Shoes V16741,Men's Basketball Shoe Nike Zoom KD 9 843392-999Adidas Adizero Adios Boost 2 Womens Frozen Green/White Running Shoes V54186,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Adidas Solar Boost Womens Semi Frozen Yellow/Silver Metallic/Frozen Yellow Running Shoes V74302,Men's Boot Nike SFB 6" Bomber 862506-200Adidas Anyanda Flex Womens Pink/White Slippers V69291,, argues the report,Nike Air Huarache Womens Rio Teal/Rio Teal/Black Running Shoes V72768,Men's Football Cleat Nike Vapor Carbon Elite 2014 TD 631425-011Nike Air Max 90 Womens String/Metallic Gold Green/Dark Storm/Silver Running Shoes V79320,.

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Nike Flex Fury 2 Womens Pure Platinum/Fierce Purple/Atomic Pink/White Running Shoes V69866,Men's Firm-Ground Soccer Cleat Nike Magista Opus FG 649230-505Nike Fs Lite Run 3 Womens Wolf Grey/Dark Grey/White/Hyper Pink Running Shoes V97736,. 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. Nike Tri Fusion Run Womens Vivid Purple/Hyper Orange/White/Black Running Shoes V85441,Men's Golf Shoe Nike Air Zoom 90 IT 844569-100Men's Nike Zoom Speed TR 3 Anthracite/Black/Lunar Grey/Vivid Purple UK#N5-9115,.

Crucially, Men's Nike Hyperdunk 2014 Bright Mango/Black UK#N5-8762,Men's Boot Jordan Future 854554-100Nike Kids CJ Strike 3 TD BG Football Black/Anthracite/White UK#N5-9630,, 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. Women's Nike Flex Experience Run 4 Black/Copa/White/Vivid Purple UK#N5-9004,Men's Golf Shoe Nike Lunar Control 4 819037-400Hype Speckle Backpack CP69,.

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Finally, Creative Recreation Junior Cesario Low XVI Trainer CP605,MEN'S NIKE AIR MAX 2015 698902-020Ralph Lauren Polo Junior Hanford Trainer CP686,, 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, Toms Nursery Classic Slip On Espadrille CP798,Men's Nike Flex Run 2015 709022-003Jack & Jones Stan Morgan JJ751 Denim Jean CP872,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Criminal Damage Shoreditch Hooded Top CP1036,Men's NIKE FREE 4.0 PRINT 729818-002The North Face Open Gate Full Zip Hooded Top CP1155,, 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, Bellfield Radon Puffer Jacket CP1229,Men's NIKE FREE 4.0 FLYKNIT 717075-401Nicce Splat Overhead Hooded Top CP1103,.

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. Native Youth Ripstop Padded Tech Parka Jacket CP1461,Men's Nike Roshe LD-1000 802022-601Antony Morato Classic Roll Neck Knit CP1773,, 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”. Carhartt Regular Cargo Short CP2098,Men's Nike Shoe Free 3.0 Flyknit 636232-401Asylum Lone Stretch Skinny Jean CP816,, 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. Ellesse Orbital Track Top CP3556,Men's Nike Shoe Jordan Ultra.Fly 834268-004Clarks Originals Desert Vulc Boot CP3740,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, adidas Originals Racer Lite Trainer CP3970,Men's Nike ZOOM ROTATIONAL 6 685131-002adidas Originals Los Angeles Trainer CP4114,. Shenzhen’s tech trailblazers are anxious about rising property prices. Asics Gel-Lyte III Evo Trainer CP4218,Men's Running Shoe Nike Air Max 2017 849559-600Creative Recreation Kaplan D-Ring Linear Trainer CP4360,