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Nike Junior Air Trainer 3 CP654,Adidas Crazy 1 Mens Black Basketball Shoes V11967Nike Junior Air Jordan 7 Retro GG Trainer CP670,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Dr. Martens Nursery Core Colby 3-Eye Lace Shoe CP763,Adidas Crazy 1 Mens Blast Purple/Black/Vivid Green Basketball Shoes V38996Hype Skinny Jean CP860,. 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 Originals 3-Stripe Sleeve Fitted Hooded Top CP936,Adidas Adizero Crazy Light 2 Mens Infrared/Black/White Basketball Shoes V60100Converse Core Full Zip Hooded Top CP992,.

Ice Cream Varsity Hooded Top CP1077,Adidas Crazy Light Boost Mens Light Scarlet/Black Basketball Shoes V61675Nike SB Icon Full Zip Hooded Top CP1122,. 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). Bellfield Oxide Parka CP1228,Adidas Crazy 8 Mens Gold Sld/White Basketball Shoes V55844Condemned Nation Mormant Basket Weave Varsity Jacket CP1292,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Franklin & Marshall Printed Windbreaker Jacket CP1378,Adidas Crazylight 2.5 Boost Low Mens Branch/Cargo/Black Basketball Shoes V40740Native Youth AW15 Gulf Jacket CP1464,, too, that, after 2023, The North Face Sangro Jacket CP1520,Adidas D Lillard 1 Mens Solar Red/Black Basketball Shoes V77691Jack & Jones Anders Roll Neck Knit CP1829,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Cuckoos Nest Towelling Gym Short CP2116,Adidas D Lillard 1 Mens White/Grey/Scarlet Basketball Shoes V91799Asylum Lone Stretch Skinny Jean CP816,.


What, then, will be the features of this growing consumer market? A Adidas D Rose 6 Mens Scarlet/White/Scarlet Basketball Shoes V74265 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, Oiler & Boiler Tuckernuck Shortie Swimmer Short CP2331,Adidas D Rose 5 Boost Mens Black/Scarlet/White Basketball Shoes V26082FILA Settanta Track Top CP3571,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Timberland Newmarket II Cupsole 6 Inch Boot CP3777,Adidas D Rose 5 Boost Mens Black/White/Glow Basketball Shoes V34422Clear Weather Lakota Stingray Shoe CP3897,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. adidas Originals ZX Flux Trainer CP3974,Adidas D Rose 773 4 Mens Black/Scarlet/Black Basketball Shoes V25804adidas Originals Superstar Shine Trainer CP4058,, argues the report,adidas Originals Superstar Mono Trainer CP4140,Adidas D Rose Lakeshore Mid Boost Mens Black/Gum Basketball Shoes V19518Bjorn Borg X100 Low Mesh Trainer CP4257,.

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Creative Recreation Cesario Low XVI Woven Trainer CP4317,Adidas Wall 2 Mens Black/Talc/White Basketball Shoes V29133Cruyff Vanenburg X-LITE Trainer CP4404,. 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. Hugo Boss Stiven Trainer CP4474,Adidas Cc Rocket Boost Mens Solar Blue/Black/White Running Shoes V75751Nike Zoom Stefan Janoski Trainer CP4592,.

Crucially, Nike Air Jordan Eclipse Trainer CP4682,Adidas Element Refine Mens University Red/Light Maroon/Solar Blue Running Shoes V82663Nike Kobe X Elite Low ,, 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. Puma R698 LS PWRWARM Trainer CP4913,Adidas Pure Boost 2 Mens Black/Dark Grey Running Shoes V16624Supra Stacks II Trainer CP5013,.

Finally, Timberland Womens Earthkeepers 14 Inch Premium Zip Boot CP5183,Adidas Vigor Tr 6 Mens Collegiate Royal/Solar Yellow/Onix Running Shoes V46083Unisex Shoes adidas Adizero Javelin 2 Black/White/Solar Red,, 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 adidas Cloudfoam Flow White/Shock Pink,Adidas Supernova Boost Glide 8 Mens Blue/White/Collegiate Navy Running Shoes V40669Womens Shoes adidas Y-3 by Yohji Yamamoto Femme Boost Lace Black/Black,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Sandals Aerosoles A2 by Aerosoles Wip Current White PU,Adidas Adissage Comfort Fitfoam Mens Bright Royal/Black Slippers V42567Womens Sandals Aerosoles Cherry Plush Light Pink,, 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 Shoes Aerosoles Solsa Dance Silver Metallic,Adidas Ace 16.2 Cage Mens Black/White/Solar Green Soccer Shoes V36402Womens Boots ALDO Nizza Camel,.

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 ALDO Aoisa Bone,Adidas Messi 15.3 Tf Mens Black/Solar Green/Solar Red Soccer Shoes V28114Womens Boots Anne Klein Damina Dark Taupe Suede,, 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 Anne Klein Weekend White/Black,Adidas Messi 15.3 Fg Mens Black/Solar Green/Solar Red Soccer Shoes V27844Womens Shoes Anne Klein 7Cloudless Pewter,, 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 Badgley Mischka Signify Black Diamond Drill Fabric,Adidas Bercuda 3 Mens White/Black/Light Scarlet Tennis Shoes V88242Womens Sandals C Label Dashia-11 Blue,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Sandals Calvin Klein Nasi Warm Gold Mirror Metallic,Nike Air Huarache Mens Black/White Running Shoes V31407Womens Shoes Calvin Klein Saren Black Hair Calf/Kid Suede,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Shoes Calvin Klein Nasser Black,Nike Air Max 90 Mens Bronze/Baroque Brown/Bamboo/Bronze Running Shoes V43064Womens Boots CARLOS by Carlos Santana Hanna 2 Brown,