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Womens Shoes Anne Klein Ardmore Tweed,adidas Originals Gazelle OG Trainer CP4066Womens Shoes Anne Klein Dane Medium Taupe/Medium Taupe Fabric,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
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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 Sandals C Label Darla-9 Pewter,adidas Originals Los Angeles Trainer CP4108Womens Shoes C Label Tavi-1 Blue,.
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Assume, instead, Womens Shoes Calvin Klein Shelley Black Patent,adidas Originals Superstar Vulcanised ADV Trainer CP4125Womens Shoes Calvin Klein Karel Indigo/Black Haircalf/Leather,, too, that, after 2023, Womens Shoes Calvin Klein Collection Gavin Tmoro Babycalf,adidas Originals Superstar Mono Trainer CP4138Womens Sandals CARLOS by Carlos Santana Glisten Turquoise,. 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 CARLOS by Carlos Santana Soul Black Leather,adidas Originals Superstar RT Trainer CP4141Womens Boots Clarks Fianna Holly Black Leather,.
What, then, will be the features of this growing consumer market? A adidas Originals Mr Superstar Supershell Trainer CP4134 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 Sandals Clarks Playful Tunes White Leather,adidas Originals ZX Flux Racer Asym Trainer CP4186Womens Sandals Clarks InMotion Sail Sage,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Clarks Santee Charm Cognac Leather,Armani Jeans Tonal Suede Leather Trainer CP4190Womens Shoes Clarks Alitay Giana Black Leather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Clarks Bayham Rose Black,adidas Originals Stan Smith Gold Trainer CP4174Womens Boots COACH Alexandra Fatigue/Fatigue Suede/Matte Calf,, argues the report,Womens Sandals COACH Bernice Chalk Soft Vegan Leather,Asics Gel-Lyte III Womens Shoes COACH Wanda Khaki/Chestnut 12cm Sig C/Patent,.
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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 Boots Hunter Huntress Green,Criminal Damage Python High Trainer CP4385Womens Boots Naturalizer Tipley Bridal Brown Leather,, 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 Sandals Naturalizer Every White Leather,Cruyff Puente Hi Trainer CP4429Womens Shoes Naturalizer Kyndell Coral Nubuck,.
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 New Balance WC1005 White,Cruyff Vanenburg X-LITE Trainer CP4435Womens Shoes New Balance WC996v2 Light Blue/Blue,, 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 New Balance Classics 315 - Cush+ Black,Lacoste Marcel Trainer CP4509Womens Shoes Nike Classic Cortez BR Fuchsia Glow/Lava Glow/White,, 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 Nike Air Vapor Ace White/Light Bone/Pure Platinum/Pure Platinum,Lyle & Scott Cally Mesh Slip On Trainer CP4546Womens Shoes Nike Air Max Sequent Wolf Grey/Vivid Purple/White/Hyper Orange,.