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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 Boots Calvin Klein Ashby Brown Sugar Calf/Elastic,Women's Shoe Nike Juvenate Premium 844973-300,Womens Sandals Calvin Klein Navi Black/Black Scuba/Patent,.
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Assume, instead, Womens Sandals Clarks Leisa Gianna Navy,Adidas Crazy 8 Boys Grade School Solar Zest/Blast Purple/White Basketball Shoes V78591,Womens Shoes Clarks Juniper Sling Black Leather,, too, that, after 2023, Womens Shoes Clarks Cala Dor Navy Leather,Adidas J Wall Boys Grade School Fairway/Reflective/Black Basketball Shoes V53259,Womens Sandals COACH Haley Saddle/Black Semi Matte Calf,. 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 COACH Remonna Black/White/Black Signature,Nike Huarache Run Boys Grade School Wolf Grey/Deep Royal Blue/Hyper Punch/Univ Gold Running Shoes V9,Womens Boots Cole Haan Dey Bootie Black Leather,.
What, then, will be the features of this growing consumer market? A Nike Huarache Run Girls Grade School Black/Volt/Pink Pow/Photo Blue/White Running Shoes V30307, 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 Sandals Cole Haan Elsie Thong Sandal 40 II Acorn,Adidas D Howard 5 Mens Light Scarlet/White/Sun Basketball Shoes V62217,Womens Shoes Cole Haan Bowie Slip-On Sneaker Bristol Blue Perf Textile,.
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 Lena Open Toe Pump 75 II Gold Metallic,Adidas J Wall Mens Black/Flash Green/Solar Orange Basketball Shoes V18517,Womens Sandals ECCO Jab Toggle Sandal Dark Shadow/Metallic/Licorice,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes ECCO Golf Street EVO One Luxe White,Adidas Energy Boost 3 Mens Mid Grey/Black/Blue Running Shoes V64113,Womens Sandals GUESS Roxxie Silver,, argues the report,Womens Boots Naturalizer Cassidy Black Leather,Adidas Voloomix Mens Scarlet/White Slippers V74074,Womens Sandals Naturalizer Julissa Black Printed Snake/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 UGG Pierce Chestnut,Nike Air Huarache Run Ultra Womens Stealth/White Running Shoes V79308,Womens Boots UGG Kristin Furious Fuchsia,, 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 UGG Audrey Exotic Black Leather,Nike Air Max Thea Womens Grey Mist/Grey Mist Running Shoes V56533,Womens Sandals Vaneli Ertha White Pito Print,.
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 Vaneli Marise Castagna Pearl Nappa/Matching Elastic,Nike Flyknit Lunar 3 Womens Sail/Black Running Shoes V73210,Womens Shoes Vaneli Arlen Multi Dane Fabric/Black Gross Grain,, 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”. Unisex Shoes Vans Brigata Black/Black,Nike Juvenate Womens Wolf Grey/White/Cool Grey Running Shoes V99647,AFC Home Minikit high risk red-white,, 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. Full-Zip Hoodie,Men's Nike T-Lite XI White/Black/Obsidian UK#N5-9482,Men's Slogan Tee,.