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Adidas Voloomix Mens Black/White Slippers V31345,Men's Shoe Nike Air Presto 848132-009Nike Air Max Excellerate 4 Mens Black/Game Royal/Deep Royal/White Running Shoes V18915,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Nike Air Max 90 Mens Black/Wolf Grey/Dark Grey/Black Running Shoes V37459,Men's Shoe Nike Air Presto Ultra Flyknit 835570-007Nike Air Max 95 Mens Dark Grey/Black/Wolf Grey Running Shoes V49891,. 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 Dual Fusion Trail 2 Mens Black/Wolf Grey/Volt/Wolf Grey/Cool Grey Running Shoes V38315,Men's Shoe Nike Air Zoom All Out Flyknit 844134-001Nike Free Rn Flyknit Mens White/Black Running Shoes V86786,.

Nike Zoom Vomero 11 Mens Anthracite/White/Black/Opti Yellow Running Shoes V11250,Men's Shoe Nike Air Zoom Huarache 2K4 308475-400Adidas Superstar Up Strap Womens White/White/Black Basketball Shoes V95087,. 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 Response Boost Womens Vista Grey/Silver Metallic/Solar Pink Running Shoes V84439,Men's Shoe Nike Air Zoom Odyssey 2 844545-001Adidas Ultra Boost Womens Frozen Yellow/Midnight Indigo/Semi Frozen Yellow Running Shoes V54221,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Nike Air Huarache Womens White/Blue Legend/White/Hot Lava Running Shoes V89572,Men's Shoe Nike Air Zoom Pegasus 32 749340-003Nike Air Max 1 Ultra Womens Summit White/University Red/White Running Shoes V79524,, too, that, after 2023, Nike Air Zoom Odyssey Womens Black/Copa/Bright Crimson/White Running Shoes V16486,Men's Shoe Nike Air Zoom Odyssey 749338-004Nike Flex Fury Womens Vivid Purple/Copa/Blue Lagoon/Black Running Shoes V84820,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Fs Lite Run 3 Womens Black/Anthracite/Black/Dark Grey Running Shoes V13484,Men's Shoe Nike Air Zoom Pegasus 92 844652-100Nike Zoom Terra Kiger 3 Womens Chalk Blue/Racer Blue/Hyper Orange/Black Running Shoes V43925,.

What, then, will be the features of this growing consumer market? A Men's Shoe Nike Air Zoom Pegasus 92 Premium 844654-003 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, Men's Nike Air Max Invigor Game Royal/White UK#N5-8982,Men's Shoe Nike Darwin 819803-111Men's Nike Hyperdunk 2015 PRM White/Black/Bright Crimson UK#N5-9133,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Kids Flex Experience 3 Lava Glow/Pink Pow/Liquid Lime/White UK#N5-9523,Men's Shoe Nike Free Hypervenom 2 747139-800Nike Kids Air Max Invigor Black/White UK#N5-9582,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Women's Nike Lunaracer+ 3 Black/Hyper Orange/Vivid Purple/White UK#N5-9062,Men's Shoe Nike F.C. Free Hypervenom 2 747140-004Mr Lacy Flat Laces CP358,, argues the report,Converse Infant Chuck Taylor All Star High Mono Canvas Trainer CP482,Men's Shoe Nike Hypershift 844369-017adidas Originals Junior Dragon Trainer CP569,.

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Vans Junior Atwood Leather Trainer CP698,Men's Shoe Nike Free TR Versatility Amp (USA) 833336-316Nike Nursery Roshe Run Trainer CP787,. 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. Jack & Jones Boxy Leed Loose Jeans Denim Jean CP889,Men's Shoe Nike Free Train Force Flyknit 833275-013Converse Core Patch Hooded Top CP989,.

Crucially, Nicce Track Hooded Top CP1109,Men's Shoe Nike Kobe X Elite EXT 822950-001Antony Morato Leather-look Panel Jacket CP1207,, 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. Carhartt Anchorage Parka Jacket CP1287,Men's Shoe Nike MercurialX Finale II TF 831975-870Henri Lloyd Frensham Quilted Jacket CP1408,.

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Finally, Franklin & Marshall Small Logo Knit Jumper CP1799,Men's Shoe Nike Roshe One Fleece 749658-301Converse Core Fleece Short CP2111,, 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, Umbro Rio Jord Short CP2214,Men's Shoe Nike Roshe Two 844656-400Ellesse Zobi Shell Top CP3546,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Timberland Earthkeepers 2.0 Chukka Boot CP3758,Men's shoe Nike Tiempo Legend VI FG 819177-010Nike Celso Thong Plus Sandal CP3861,, 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, adidas Originals ZX Flux Trainer CP3974,Men's Shoe Nike Ultra XT Mesh 833910-001adidas Originals Los Angeles Trainer CP4095,.

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 ZX Flux Racer Asym Trainer CP4178,Men's Shoe Nike Zoom Hypercross TR2 N7 822785-043Converse Star Player Wax Tech Ox Trainer CP4281,, 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”. Cruyff Performance Trainer CP4411,Men's Shoe NikeCourt Air Zoom Ultra 845007-700Hugo Boss Hyllon Trainer CP4484,, 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 Trainer CP4646,Men's shoes Nike Mercurial Vapor X AG-R 717139-107Nike Paul Rodriguez 9 R/R Trainer CP4730,.

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