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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, Womens Shoes Calvin Klein Leila Black Patent,Lacoste Bayliss Vulcanised Premium Trainer CP4528Womens Shoes Calvin Klein Cirilla Sandstorm Leather,.
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Assume, instead, Womens Sandals Clarks Lydie Hala Black Nubuck,Lacoste Ampthill LCR3 Leather Trainer CP4534Womens Sandals Clarks Tustin Sahara Tan Leather,, too, that, after 2023, Womens Sandals Clarks Hayla Pier Pewter,Nike LeBron XI Low Trainer CP4576Womens Shoes Clarks Sarina Billy Black Leather,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Shoes Clarks Alitay Giana Black/Brown Spot Haircalf,Nike Air Force 1 Low Trainer CP4569Womens Shoes Clarks Cordella Alto Silver Leather,.
What, then, will be the features of this growing consumer market? A Nike Air Max 90 Leather Trainer CP4601 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, Womens Boots COACH Gillian Saddle Vegan Leather,Nike Air Max 93 Trainer CP4620Womens Sandals COACH Vitalia Rose Gold Matte Metallic Cross Grain,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Sandals COACH Caterine Platinum Metallic Tumbled,Nike Dunk CMFT Trainer CP4639Womens Shoes COACH Empire Black Star,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes COACH Justine Wildflower Suede,Nike Stefan Janoski Max L Trainer CP4643Womens Boots Cole Haan Tali Luxe Bootie 40 Stormcloud Suede,, argues the report,Womens Sandals Cole Haan Mercer Sandal Black/Asphalt Sahara Snake Print,Nike Roshe Run Flyknit Trainer CP4635Womens Shoes Cole Haan Gramercy Oxford Chestnut Gold Metallic Crackle/Black,.
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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 Womens Shoes New Balance W890v4 Combat,Nike Flyknit Trainer Chukka FSB CP4854Womens Shoes New Balance WT610v4 Thunder/Pink Zing,, 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, Womens Shoes New Balance Classics WL574 Blush,Puma Ignite PWRWARM Trainer CP4910Womens Shoes Nike Primo Court Mesh White/White,.
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. Womens Shoes Nike In-Season TR 4 Wolf Grey/Dark Grey/White/Green Glow,Timberland Newmarket 6-Inch Mock Toe Boot CP3790Womens Shoes Nike Zoom Fit Blue Lagoon/Copa/White/Dark Grey,, 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”. Womens Shoes Nike FS Lite Run 3 Chalk Blue/Racer Blue/White/Atomic Pink,Ralph Lauren Polo Harvey-NE Trainer CP4962Womens Sandals PATRIZIA Salome Beige,, 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. Womens Shoes PATRIZIA Grandview Black,Reebok Workout Plus Lo Trainer CP4998Womens Shoes PUMA Puma Vikky Blur Black/Coral Cloud Pink,.