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Womens Shoes Anne Klein Obelie New Kenya Natural Leather,adidas Originals Racer Lite EM Trainer CP4003Womens Shoes Anne Klein Barnone Black,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Womens Shoes Anne Klein 7Faithful Black/Ivory Synthetic,adidas Originals Spezial Trainer CP4044Womens Shoes Badgley Mischka Thora Pink Satin,. 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, Womens Shoes Badgley Mischka Adore Silver Glitter Fabric/Metallic,adidas Originals ZX Flux Slip On Trainer CP4035Womens Sandals C Label Mollini-25 Black,.

Womens Shoes C Label Clower-5 Wine,adidas Originals ZX 700 2.0 Trainer CP4019Womens Boots Calvin Klein Kristi Black Toscana,. 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). Womens Sandals Calvin Klein Nasi Lilac Disco Kid,adidas Originals Tubular Runner Trainer CP4039Womens Sandals Calvin Klein Carini Cocoon Leather,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Shoes Calvin Klein Genavee Black Leather,adidas Originals San Remo Trainer CP4061Womens Shoes Calvin Klein Calayla Gold/Sand Gold Canvas/Leather,, too, that, after 2023, Womens Shoes Calvin Klein Mayra Perla Nera Metallic Leather,adidas Originals San Remo Trainer CP4062Womens Boots CARLOS by Carlos Santana Haven Wide Calf Taupe,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Sandals CARLOS by Carlos Santana Malor Black 1,adidas Originals Copa Skate Woven Trainer CP4078Womens Boots Clarks Glick Willa Navy Nubuck,.

What, then, will be the features of this growing consumer market? A adidas Originals Los Angeles Trainer CP4110 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, Womens Boots Clarks Pilico Shine Black Leather,adidas Originals Superstar 80s Metallic Trainer CP4124Womens Sandals Clarks Brinkley Jazz Grey,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Sandals Clarks Haley Moon Taupe Nubuck,adidas Originals Superstar Vulcanised ADV Trainer CP4127Womens Shoes Clarks Florine Portia Black Leather,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Clarks Ciera Tide Coganc Combination Leather,adidas Originals Pro Model 'Xeno Pack' Trainer CP4131Womens Shoes Clarks Crewso Riley Black,, argues the report,Womens Boots COACH Maddie Chestnut Calf,adidas Originals Gazelle OG Trainer CP4185Womens Sandals COACH Coral Nude/Midnight Navy,.

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Womens Shoes COACH Kia Saddle,adidas Originals Topanga Trainer CP4179Womens Shoes COACH Olive Black Pebble Grain Leather,. 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. Womens Boots Cole Haan Rayna Bootie WP Chestnut Suede,adidas Originals Tubular X Trainer CP4183Womens Sandals Cole Haan Elsie Cross Wedge 40 II Acorn,.

Crucially, Womens Sandals Cole Haan Penelope Black Leather,Asics Gel-Lyte III Womens Shoes Cole Haan Amalia Sling Skimmer Black Dot Print/Black,, 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. Womens Shoes Cole Haan Juliana Ankle Strap Pump 75 Black Suede,Asics Gel-Lyte III Metro Trainer CP4242Womens Shoes Cole Haan Nantucket Loafer Soft Gold Metallic,.

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Finally, Womens Sandals ECCO Touch 25 T-Strap Slide Moon Rock/Moon Rock,Converse Chuck Taylor All Star Ox Leather Mono Trainer CP4272Womens Shoes ECCO Mobile III Premium Sneaker Moon Rock/Moon Rock/Warm Grey/Warm Grey Metallic,, 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, Womens Shoes ECCO Sport Biom Lite Slip On Warm Grey/Sea Port,Creative Recreation Cesario Low XVI Trainer CP4336Womens Sandals GUESS Harlee Black,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Shoes GUESS Hazzel Natural Patent,Creative Recreation Kaplan D-Ring Linear Trainer CP4360Womens Boots Naturalizer Kryton Brown Fabric,, 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 Catrina Sand/Turquoise Leather/Coral Printed Snake,Cruyff Santi Rip Stop Trainer CP4387Womens Shoes Naturalizer Mozart Black Leather,.

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 Naturalizer Kaster Black,Cruyff Pelota 3D Trainer CP4393Womens Shoes New Balance W3190v2 Silver/Purple,, 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 X20v4 - Training White/Pink,Fred Perry Umpire Suede Trainer CP4448Womens Shoes Nike Lunar Glide Flash Black/Reflective Silver/Cool Grey/Wolf Grey,, 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 DF Ballistec Advantage Dove Grey/Fuchsia Flash/Classic Charcoal/Hot Lava,Fred Perry Stockport Suede Trainer CP4454Womens Shoes Nike Flex 2015 RN Flash Noble Purple/Vivid Purple/Hyper Orange/Metallic Silver,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Sandals PATRIZIA Tosia Gold,Kenzo Sonic Gummy Mesh Trainer CP4500Womens Sandals PATRIZIA Tahir Sky Blue,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Shoes PUMA Sky Wedge Rose Gold Black/Rose Gold,New Balance ML574 Trainer CP4556Womens Shoes Reebok Cardio Ultra Black/Vitamin C/Gravel,