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Womens Shoes Anne Klein Ovido Brown Reptile,adidas Originals Tubular Runner Trainer CP4028Womens Shoes Anne Klein Barb Black Synthetic,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Womens Sandals Badgley Mischka Amuse II Navy Denim,adidas Originals Energy Boost ESM Trainer CP4049Womens Shoes Badgley Mischka Sirena Ivory 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 Pearla Antique Gold Satin,adidas Originals ZX Flux Xeno Trainer CP4031Womens Sandals C Label Elinor-10 Gold,.

Womens Shoes C Label Adler-11 Brown,adidas Originals Tubular Runner Trainer CP4023Womens Boots Calvin Klein Jeans Neveah Steel,. 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 Bel Winter Taupe Suede,adidas Originals Los Angeles Trainer CP4094Womens Sandals Calvin Klein Jeans Valeri Indigo 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 Gailia Bronze Metallic Box,adidas Originals ZX 8000 Boost Trainer CP4104Womens Shoes Calvin Klein Gailia Navy Kid Skin,, too, that, after 2023, Womens Shoes Calvin Klein Harlin Lipstick Red Kid Suede,adidas Originals ZX Flux Techfit Trainer CP4088Womens Boots CARLOS by Carlos Santana Vancouver Brown,. 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 Tandy 2 Kork,adidas Originals AdiEase Cup Trainer CP4082Womens Boots Clarks Leyden Summit Black Leather,.

What, then, will be the features of this growing consumer market? A adidas Originals Los Angeles Trainer CP4115 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 Sandals Clarks Netrix Rose White Leather,adidas Originals Superstar Camo 15 Trainer CP4158Womens Sandals Clarks Rosemund Dune Black,.

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 Liya Gander Pewter,adidas Originals Superstar RT Trainer CP4142Womens Shoes Clarks Shira Nicole Black Leather,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Clarks Evianna Fuse Black,adidas Originals ZX Flux Trainer CP4166Womens Boots COACH Talia Black/Saddle/Shiny Rubber/Matte Finished Rubberized Leather,, argues the report,Womens Boots COACH Ruth Chestnut Leather,Asics GT-II Suede Trainer CP4207Womens Sandals COACH Coral Saddle/Orange,.

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Womens Shoes COACH Lorrie Chalk/Watermelon Semi Matte Calf,adidas Originals Tubular X Trainer CP4183Womens Shoes COACH Orlene Black Metallic Tumbled,. 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 Leslie Waterproof Bootie Black Suede,Asics Gel-Kayano EVO Trainer CP4217Womens Sandals Cole Haan Augusta Sandal Black/White Chevron Print,.

Crucially, Womens Shoes Cole Haan Laurel Woven Moc Sequoia,Bjorn Borg X110 Low Suede Trainer CP4260Womens Shoes Cole Haan Bethany Pump 65 Black Patent,, 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 Selma Pump 85 Black Suede,Converse Chuck Taylor All Star MA-1 Zip Trainer CP4296Womens Shoes Cole Haan Lena Open Toe Pump 75 Dark Silver Metallic,.

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Finally, Womens Shoes ECCO Babett Clog Strap Moon Rock,Cortica Hercule Slip On Trainer CP4315Womens Shoes ECCO Sculptured 45 W Pump Gravel,, 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 Boots GUESS Dreww Black Leather,Creative Recreation Cesario Low XVI Trainer CP4350Womens Shoes GUESS Jiyana Silver Synthetic,.

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 Espie Gray Suede,Creative Recreation Cesario Low XVI Trainer CP4365Womens Boots Naturalizer Maddox Black Smooth/Faux Fur,, 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 Jazzy White Leather/Silver Metallic,Cruyff Cyclone Trainer CP4400Womens Shoes Naturalizer Kipper Shrimp Cocktail 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 Naturalizer Saban Black Suede/Cheetah,Cruyff Santi Mesh Cobra Trainer CP4436Womens Shoes New Balance Fresh Foam Boracay Black/Orange,, 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 W1260v5 Grey/Yellow,Gourmet The 35 Lite BK Trainer CP4461Womens Shoes New Balance Classics WL574 Blue/Yellow Suede/Mesh,, 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 Hypervenom Phade 2 FG Blue Lagoon/Volt/Black/White,Lacoste Deston HCR Trainer CP4507Womens Shoes Nike Air Zoom Pegasus 32 Vivid Purple/Fuchsia Glow/Hyper Orange/Black,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Sandals PATRIZIA Boppe Beige,Hugo Boss Light Air Trainer CP4475Womens Shoes PATRIZIA Dreaminess Black,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Shoes PUMA Pulse XT Sport Clearwater/Blue Coral,Lacoste Chaymon Premium Trainer CP4531Womens Shoes Reebok Quickchase Run Flat Grey/Gravel/Solar Pink/Blue Pool/Silver Metallic/White,