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Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Men's Shoe Nike Free TR Versatility Amp (USA) 833336-416,Discount 215471 Nike Dunk High Men Black Yellow Shoes,Men's Shoe Nike Roshe Two 844656-400,.
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What, then, will be the features of this growing consumer market? A Comfortable 204640 Nike Free Run 2 Men Gray Black Shoes, delineates its main drivers and the challenges these are likely to create.
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, Adidas Adipure Crazyquick Mens Black/Blast Purple/Vivid Pink Basketball Shoes V14189,Authentic 200344 Nike Free Run 3 Men Blue White Shoes,Adidas J Wall Mens Lucky Blue/Silver Met/Scarlet Basketball Shoes V62549,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Adidas Supernova Sequence 8 Mens Black/Iron Metallic/Solid Grey Running Shoes V21078,Discount 174288 Nike Hyperize Kobe Bryant Olympic Men White Red Black Shoes,Nike Air Max Excellerate 4 Mens Black/Game Royal/Deep Royal/White Running Shoes V18915,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Air Zoom Odyssey Mens Black/Wolf Grey/Dark Grey/White Running Shoes V37480,Inexpensive 226736 Nike Hyperize Kobe Bryant Olympic Men Blue White Yellow Shoes,Nike Fs Lite Run 3 Mens Anthracite/Hyper Orange/White/Volt Running Shoes V10981,, argues the report,Adidas Adizero Tempo Boost 7 Womens Mid Grey/Solar Red/Granite Running Shoes V64263,Discount 205986 Nike Lebron X Men White Red Black Crimson Shoes,Adidas Distancestar Womens Collegian Navy/White/Green Track & Field Shoes V45614,.
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The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Franklin & Marshall Small Logo Fleece Short CP2137,Inexpensive 214394 Nike Shox R5 Men White Black Shoes,adidas Originals Itasca Track Top CP3524,, 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, Timberland 6 Inch Premium Jacquard Boot CP3771,Discount 231555 Nike Zoom Hyperdunk Men Blue White Red Shoes,adidas Originals Stan Smith Trainer CP3975,.
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. adidas Originals Superstar RT Trainer CP4141,Shopping 238637 Nike Zoom Kd III Men White Red Shoes,Cortica Hercule Slip On Trainer CP4315,, 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”. Hugo Boss Gym Knit Trainer CP4499,Cheap 175111 Nike Zoom Kobe VI Men Brown Orange Shoes,Nike Air Rift Trainer CP4655,, 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. Nike Stefan Janoski Max L Trainer CP4840,Authentic 225161 Nike Zoom Kobe VIi Men Black White Shoes,Supra Noiz Trainer CP5038,.