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Gandys Womens Original Flip Flop CP5222,Men's Shoe Nike Hyperdunk 2016 Flyknit 843390-146,Womens Shoes adidas Gymbreaker Bounce Black/Night Metallic/MGH Solid Grey,. 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 Boots Aerosoles Good Role Black Fabric,Men's Shoe Nike Metcon 2 819899-480,Womens Sandals Aerosoles Stone Plush Black,.

Womens Shoes Aerosoles Rotmail Dark Tan Snake,Men's Shoe Nike Train Ultrafast Flyknit 843694-010,Womens Sandals ALDO Braudia Tan,. 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 Boots Anne Klein Damina Black/Black Suede,Men's Shoe NikeCourt Zoom Cage 2 705247-806,Womens Shoes Anne Klein Octavie Grey 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 Badgley Mischka Lavender Platino Metallic Suede,Men's Training Shoe Nike Lunar Caldra 803879-616,Womens Sandals C Label Iria-3 Orange,, too, that, after 2023, Womens Boots Calvin Klein Laneige Black Cow Silk,Men's Shoe Nike Air Zoom Talaria '16 SP 844695-002,Womens Sandals Calvin Klein Collection Sibil 1 Watermelon,. 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 Calvin Klein Marilynn Dark Red Patent,NIKE AIR MAX 90 ULTRA BREATHE White/Light Retro/Lava Glow/White,Womens Shoes Calvin Klein Garnett Black/Soft White Leather,.

What, then, will be the features of this growing consumer market? A NIKE DUAL FUSION BALLISTEC ADVANTAGE White/Medium Ash/Black/Gym Red, 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 Majorca Isle Black Leather/Black Suede,NIKE FREE TRAINER 5.0 V6 Daring Red/Blue Graphite/Black,Womens Sandals Clarks Brinkley Arney White Synthetic,.

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 Helio Lilly Black,NIKE ROSHE RUN Black/Villain Red,Womens Shoes Clarks Sillian Intro Dark Brown,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots COACH Maddie Chestnut Calf,USAB Nike Hyperdunk 2016 Low LMTD 876499-699,Womens Sandals COACH Shelly Chalk Semi Matte Calf,, argues the report,Womens Shoes COACH Olive Bronze/Metallic Cross Grain Leather,Women's Shoe Nike Air Max BW 821956-001,Womens Sandals Cole Haan Air Melissa Buckle Thong Black,.

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Crucially, Womens Sandals GUESS Betzy Silver,Nike Air Max 1 Boys Toddler Black/White/Cool Grey/Gym Red Running Shoes V33762,Womens Boots Hunter Original Patent Pac Boot Bright Peacock,, 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 Boots Naturalizer Analise Oxford/Bridal Brown/Banana Leather,Adidas D Rose 6 Boys Preschool Black/Scarlet/Gold Ochre Basketball Shoes V25852,Womens Shoes Naturalizer Qualify Black/Smooth/Shiny,.

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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 Unisex Shoes PUMA El Ace 2 PN Black/Dark Shadow,Adidas Crazy 97 Mens Light Scarlet/Blue/White Basketball Shoes V62165,Womens Shoes Reebok Sport Ahead Action RS Faux Indigo/White/Cool Breeze,, 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 Rocket Dog Nacho Black Webbing,Adidas Real Deal Mens Light Grey/Prime Blue/Red Zest Basketball Shoes V61134,Womens Boots Sam Edelman Letti Black Kid Suede Leather/Embroidery,.

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 Sam Edelman Lynn Sepia,Adidas Solar Boost Mens Black/Scarlet Running Shoes V25778,Womens Shoes Saucony Propel Vista Black/Pink/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 Superga 2095 Fancotu Grafitti White/Black,Adidas D Rose Mens Aluminum/Black/Light Scarlet Slippers V10119,Womens Boots UGG Penelope Black Leather,, 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 Boots UGG Dixi Flora Perf Light Grey Water Resistant Suede,Nike Air Max Excellerate 4 Mens Black/University Red/Bright Crimson/White Running Shoes V29166,Womens Boots Under Armour UA Speedfit Hike Mid Uniform/Sherry/Veneer,.

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