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Nike Air Zoom Structure 19 Mens Bright Crimson/Volt/Voltage Green/Black Running Shoes V42014,Men's shoe Nike Magista Opus II SG-PRO Anti Clog Traction 889254-806Nike Free 3.0 Flyknit 2015 Mens Black/Hot Lava/Squadron Running Shoes V20320,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Nike Lunaracer+ 3 Mens Total Crimson/White/Photo Blue Running Shoes V81052,Men's Shoe Nike Metcon 2 819899-480Nike Zoom Elite 8 Mens Black/Opti Yellow/Volt/Total Crimson Running Shoes V23686,. 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 Element Refine Womens Glow Purple/Tech Grey/White Running Shoes V55838,Men's Shoe Nike Lupinek Flyknit 862505-300Adidas Pure Boost Sonic Knit Womens Black/Solar Red Running Shoes V28381,.
Adidas Anyanda Flex Womens Pink/White Slippers V69291,Men's Shoe Nike Lupinek Flyknit Low 882685-300Nike Air Huarache Womens Rio Teal/Rio Teal/Black Running Shoes V72613,. 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 Air Max 2016 Womens Bright Crimson/University Red/Bright Mango/Black Running Shoes V41879,Men's Shoe Nike Roshe One 511881-024Nike Air Zoom Pegasus 32 Womens Black/White Running Shoes V32326,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Flyknit Lunar 3 Womens Sail/Black Running Shoes V73210,Men's Shoe Nike Roshe One 511881-069Nike Free 5.0 2015 Womens Violet Ash/White/Hyper Orange/Black Running Shoes V84277,, too, that, after 2023, Nike Zoom Terra Kiger 3 Womens Chalk Blue/Racer Blue/Hyper Orange/Black Running Shoes V43925,Men's Shoe Nike Roshe Two 844656-200Men's Nike Tiempo Genio II Leather FG Light Crimson/Total Crimson/Metallic Silver UK#N5-8904,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Men's Nike Alpha Strike 2 3/4 TD White/Black UK#N5-9440,Men's Shoe Nike Roshe Two SE 859543-300Men's Nike SB Clutch Premium Squadron Blue/White/Black UK#N5-9494,.
What, then, will be the features of this growing consumer market? A Men's Shoe Nike Shox Avenue Leather 833584-006 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, Women's Nike Orive Lite Black/Cool Grey/White/Black UK#N5-9615,Men's Shoe Nike Train Ultrafast Flyknit 843694-716Women's Nike Air Max Invigor Premium Black/White/Black UK#N5-9579,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Zoom Vomero 10 Womens Vivid Purple/Black/Hyper Orange/Bright Crimson Running Shoes V84695,Men's Shoe Nike Zoom HyperRev 2016 Limited 820219-100Creative Recreation Infant Kaplan Holographic Suede Trainer CP506,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. adidas Originals Junior Adi Ease Trainer CP574,Men's Shoe Nike Zoom LeBron Soldier 9 FlyEase 846246-110Nike Junior Air Force 1 Low Trainer CP632,, argues the report,Converse Nursery Chuck Taylor All Star Ox Trainer CP738,Men's Shoe Nike Zoom Mercurial Flyknit 844626-002Hype Skinny Jean CP863,.
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Crucially, Criminal Damage Mount Hooded Puffer Jacket CP1328,Men's Shoe NikeLab Air Max 1 Pinnacle 859554-003Jack & Jones Violin Fur Trim Puffer Jacket CP1419,, 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. The North Face La Paz Hooded Jacket CP1528,Men's Training Shoe Nike Air Max Full Ride TR 1.5 869633-011Only & Sons Satre Slub Light Knit CP1841,.
Finally, adidas Originals Palm Tree Swim Short CP2282,Men's Training Shoe Nike Metcon 2 819899-400EA7 7 Colours Woven Suit CP3604,, 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, Timberland Adventure 2.0 Cupsole Boot CP3776,MEN'S TRAINING SHOE NIKE ZOOM HYPERCROSS TR2 749362-001Clear Weather Lakota Canvas Shoe CP3900,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of adidas Originals ZX Flux Trainer CP3971,Nike Men's Shoe Air Force 1 Mid 07 315123-111adidas Originals ZX Flux Techfit Trainer CP4090,, 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 Stan Smith Gold Trainer CP4174,Nike Air Force 1 07 LV8 University White/Gum Light Brown/WhiteConverse Chuck Taylor All Star High Trainer CP4305,.
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. Cruyff Santi Mesh Cobra Trainer CP4436,Men's Shoe Nike Roshe One 511881-112Le Coq Sportif R900 Jacquard Trainer CP4538,, 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”. Nike Air Flight 89 Trainer CP4630,Nike Air Max LD-Zero H Unisex Shoe 848624-002Nike Zoom Stefan Janoski Canvas Trainer CP4723,, 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 Air Trainer Huarache 'Blackout' Pack CP4869,NIKE AIR MAX THEA Pink Pow/FireberrySupra Owen Mesh Runner Trainer CP5011,.