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Nike Jordan New School Trainer CP4792,Men's Shoe Nike Hyperdunk 2016 Flyknit 843390-010,Ralph Lauren Polo Hanford Nylon Trainer CP4933,. 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, Vans Old Skool Trainer CP5070,Men's Shoe Nike Jordan Flow 833969-001,adidas Originals Womens Adilette Trefoil Sandal CP5206,.

Womens Shoes adidas Volley Response Boost White/Silver Metallic/Collegiate Navy,Men's Shoe Nike Roshe One Hyperfuse 636220-005,Womens Shoes adidas Running Springblade Drive 2 Bold Pink/Silver Metallic/Black,. 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 Aerosoles A2 by Aerosoles Heart Plush Black,Men's Shoe Nike Zoom Clear Out 844370-146,Womens Shoes Aerosoles A2 by Aerosoles Kaleidescope Nude Patent,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Boots ALDO Merendi Brown Nabuck,Men's Track Shoe Nike Zoom Rival XC 749349-407,Womens Boots Anne Klein AKKacey Wide Calf Cognac Leather,, too, that, after 2023, Womens Shoes Anne Klein Petrica Silver Leather,Men's Training Shoe Nike Train Prime Iron DF 832219-004,Womens Shoes Anne Klein AKFinale Black/Black Fabric,. 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 Badgley Mischka Aware Gold Glitter,NIKE AIR MAX 1 ULTRA ESSENTIALS Pure Platinum/Black/Game Royal,Womens Shoes C Label Tavi-1 Blue,.

What, then, will be the features of this growing consumer market? A Men's Shoe Nike Roshe One Hyper Breathe 833125-200, 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 Calvin Klein Ulie Black Patent,NIKE FREE 1.0 CROSS BIONIC Hyper Grape/Wolf Grey/Hydrangeas/Obsi,Womens Shoes Calvin Klein Nareen Black/Black/White Multi Snake,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Calvin Klein Wisteria Black/White Stretch Knit/Leather,NIKE INTERNATIONALIST MID River Rock/Total Orange/Summit White/F,Womens Sandals CARLOS by Carlos Santana Kelly Brulee,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots Clarks Busby Frame Black Leather,Nike Roshe One - Men's Midnight Navy/White/Black,Womens Sandals Clarks Paylor Pax Black Synthetic,, argues the report,Womens Shoes Clarks Santee Charm Black Leather,Women's Shoe Nike Air Max 2016 806772-106,Womens Shoes Clarks Aria Lace Grey Leather,.

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Womens Sandals COACH Amel Milk Rubber/Milk Black Sig,Women's Shoe Nike Air Max 1 Ultra LOTC (Paris) 747105-300,Womens Shoes COACH Tamera Black Haircalf,. 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 Arlington Riding Boot Brown,Women's Shoe Nike Air Zoom Pegasus 33 831356-100,Womens Sandals Cole Haan Margate Slide II CH Argento Metallic,.

Crucially, Womens Shoes Cole Haan Bradshaw Pump 85 Charcoal Multi Haircalf,Women's Shoe Nike Free Train Connect 843966-001,Womens Shoes Cole Haan Elsie Open Toe Wedge II Tango Red/Cork,, 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 Sandals Ecco Performance Kana Sandal Warm Grey,Adidas Rose 3.5 Boys Toddler Joy Blue/Satellite/Altitude Basketball Shoes V60497,Womens Shoes ECCO Cayla Casual Tie Black/Black,.

Finally, Womens Boots Hunter Original Short Bright Cerise,Adidas D Lillard 1.0 Boys Grade School Frozen Blue/Scarlet/Blue Basketball Shoes V54105,Womens Sandals Naturalizer Nerice Dark Pewter 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 Naturalizer Stella Classic Navy Smooth/Printed Snake,Adidas J Wall 2 Boys Grade School Night Flash/Black/Frozen Green Basketball Shoes V66403,Womens Shoes New Balance Fresh Foam Boracay Purple/Pink,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Shoes New Balance Classics WL574 Blue/Orange Textile,Nike Roshe One Boys Grade School White/White/Wolf Grey Running Shoes V96279,Womens Shoes Nike Flex 2015 RUN Black/Pink Foil/Pink Glow/Bright Citrus,, 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 Nike Zoom Cage 2 Chalk Blue/Voltage Green/Dark Purple Dust/White,Adidas Adipure Crazyquick Mens Light Scarlet/Metallic Silver/Collegiate Navy Basketball Shoes V62174,Womens Sandals PATRIZIA Extravagant Blue,.

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 PUMA Haraka XCS Pool Green/Grenadine,Adidas D Lillard 2.0 Mens Scarlet/Black Basketball Shoes V73419,Womens Shoes Reebok Speed Rise Faux Indigo/Sheer Blue/White/Collegiate Navy,, 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 Boots Rocket Dog Marcus Tan Wide Tale/Hush,Adidas Adizero Adios Boost 2 Mens Black/White/Solar Red Running Shoes V36422,Womens Boots Sam Edelman Joey Pure Gold,, 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 Sam Edelman Carol New Nude Leopard,Adidas Ultra Boost Mens Solar Yellow/Black Running Shoes V77896,Womens Shoes Saucony Spitfire Purple/Pink,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Boots UGG Thames Wet Sand Nubuck,Adidas Messi 15.3 Tf Mens Black/Solar Green/Solar Red Soccer Shoes V28114,Womens Boots UGG Classic Mini Liberty Blush Floral,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Slippers UGG Scuffette II Metallic Conifer Navy Suede,Nike Air Max 2016 Mens Dark Grey/University Red/Cool Grey/Sail Running Shoes V50959,Womens Sandals Vaneli Wanita Natural Cork/Platino Met Nappa,