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Womens Shoes ALDO Galenadda Bone,Nike Zoom Rotational 6 Unisex Track and Field Shoe 685131-100,Womens Sandals Anne Klein Halina Pewter/Pewter Synthetic,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
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Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Womens Sandals C Label Mollini-25 Tan,Women's Shoe Nike Air Presto 878068-300,Womens Boots Calvin Klein Ettore Black Cow Silk,.
Womens Sandals Calvin Klein Collection Siri White,Women's Shoe Nike Free Focus Flyknit 844817-300,Womens Shoes Calvin Klein Ginae Ematite/Winter Taupe Metallic Box/Kid Suede,. 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 CARLOS by Carlos Santana Gramercy Wide Shaft Taupe,Women's Shoe Nike Roshe One Hyperfuse BR 833826-400,Womens Boots Clarks Leyden Scale Brown Leather,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Womens Sandals Clarks Caslynn Reece Nude Leather,Nike Air Max 90 Girls Toddler White/Gamma Blue/Pink Blast/Ghost Green/Black Running Shoes V91469,Womens Sandals Clarks Hayla Young Navy,, too, that, after 2023, Womens Shoes Clarks Kadri Dylan Black Leather,Nike Flex Fury 2 Boys Preschool Chalk Blue/Metallic Silver/White Running Shoes V43815,Womens Boots COACH Gillian Saddle Vegan Leather,. 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 COACH Judy Black/Brown/Denim,Adidas Ultra Boost 3 Boys Grade School Clear Green/Mineral/Shock Red Running Shoes V44219,Womens Shoes COACH Drew Saddle/Saddle Lux Suede/Matte Calf,.
What, then, will be the features of this growing consumer market? A Nike Flex Experience 4 Boys Grade School Wolf Grey/Dark Grey/White/Volt Running Shoes V97781, delineates its main drivers and the challenges these are likely to create.
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 Cole Haan Hinckley Bootie II Black Nubuck,Nike Flex Experience 4 Girls Grade School Fiberglass/Brigade Blue/Porpoise/Copa Running Shoes V53337,Womens Shoes Cole Haan Hendrix Det Lace Sneaker Black/Studs,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Cole Haan Carya High Sandal Black,Adidas D Lillard 1 Mens Black/Yellow/White Basketball Shoes V38567,Womens Boots ECCO Touch 15 Buckle Boot Black/Black,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes ECCO Siena Moc Picante,Adidas D Rose 773 4 Mens Black/Bold Pink/Night Flash Basketball Shoes V14322,Womens Shoes ECCO Sport Terracruise Slide Black/Black/Burgundy Synthetic Textile/Decoration,, argues the report,Womens Shoes GUESS Hotspot Blue,Adidas Pure Boost Zg Mens Collegate Navy/Mineral Blue Running Shoes V45559,Womens Boots Naturalizer July Wide Calf Dark Camel Suede/Banana Bread Leather,.
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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 Womens Boots Timberland Beckwith Lace Chukka Dark Brown,Adidas Anyanda Flex Womens Flash Pink/White/Silver Metallic Slippers V53887,Womens Boots UGG Kiings Black Leather/Suede,, 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 UGG Lyndi Starfish Leather,Nike Air Max Sequent Womens Fuchsia Glow/Hyper Orange/Vivid Purple/Black Running Shoes V54286,Womens Boots Vaneli Carly Nut Dream Calf/Mtch Zip/Ant Gold Buckle,.
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 Sandals Vaneli Maslyn Taupe Per Print/Match Elastic,Nike Air Max Thea Womens Light Retro/Artisan Teal Running Shoes V61612,Womens Shoes Vaneli Blowy Platino Metallic Nappa,, 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 Vaneli Ganesa Black Nappa/Black,Nike Free Rn Distance Womens Hyper Violet/Fierce Purple/Blue Lagoon/Blue Tint Running Shoes V59589,Jordan Ultimate Flight,, 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. Nike Hyperadapt Storm-FIT Full-Zip,Nike Roshe One Womens University Red/University Red/Sail Running Shoes V83029,Running Graphic Jacket,.