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Experimental feature
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Clae Ellington Suede Shoe CP3880,Nike Roshe One Womens Midnight Navy/Metallic Blue Dusk/Silver/Blue Running Shoes V65139Toms Avalon Sneaker Shoe CP3942,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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adidas Originals Busenitz Trainer CP4026,Nike Shox Nz Womens Metallic Silver/White/Gamma Blue/Electric Green Running Shoes V63999adidas Originals Rayado Trainer CP4081,. 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 Hamburg Trainer CP4176,Nike Shox Nz Womens Metallic Silver/White/Gamma Blue/Electric Green Running Shoes V64066Bjorn Borg X100 Low Metal Trainer CP4251,.

Cortica Hercule Slip On Trainer CP4315,Nike Zoom Wildhorse 3 Womens Cool Grey/Anthracite/Persian Violet/Black Running Shoes V46480Cruyff Vanenburg X-LITE Trainer CP4409,. 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). Cruyff Vanenburg X-LITE Cobra Trainer CP4425,Nike Zoom Fly 2 Womens Cool Grey/Lucid Green/Voltage Green Running Shoes V47111New Balance ML373 Trainer CP4559,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Nike Stefan Janoski Max Trainer CP4615,Nike Zoom Vomero 10 Womens Ice/Black/Hot Lava/White Running Shoes V59945Nike Air Max Lunar90 Breeze Trainer CP4690,, too, that, after 2023, Nike KD VIII 'PG County' Trainer CP4797,Men's Nike Hypervenomx Pro IC Metallic Red Bronze/Green Glow/Black UK#N5-9515Nike Air Max Tavas Trainer CP4825,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Ralph Lauren Polo Hanford Canvas Trainer CP4943,Men's Nike T-Lite XI White/Black/Obsidian UK#N5-9482Supra Owen Reflective Trainer CP5020,.

What, then, will be the features of this growing consumer market? A Men's Nike Downshifter 6 Wolf Grey/Black/White/Volt UK#N5-9200 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, Vans Classic Slip on Premium Leather Trainer CP5076,Men's Nike Revolution 2 Dark Grey/Military Blue/White/Black UK#N5-8765Flossy Womens Plimsole CP5191,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Page Not Found,Men's Nike LunarGlide 6 Light Magnet Grey/Photo Blue/Volt/Black UK#N5-9519Womens Shoes adidas Lite Racer Marble Midsole,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes adidas Outdoor AX 2 W Flash Pink/Black/Night Sky,Men's Nike Zoom Winflo Black/Volt/Dark Grey/Metallic Silver UK#N5-8723Womens Boots Aerosoles Outrider Brown Fabric,, argues the report,Womens Sandals Aerosoles Wip Band White,Men's Nike Air Pegasus 83 Leather Red Clay/Gym Red/Team Red/Deep Burgundy UK#N5-8728Womens Sandals Aerosoles World Traveler Black Fabric,.

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Womens Shoes Aerosoles Aribesque Wine,Men's Nike Free Trainer 5.0 V6 AMP FLT Silver/Volt/Black UK#N5-8958Womens Boots ALDO Allisson Black Nubuck,. 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 Sandals ALDO Jeroasien Bone,Men's Nike Lunartempo 2 University Red/Black/Bright Crimson/White UK#N5-9490Womens Shoes ALDO Nika Light Yellow,.

Crucially, Womens Shoes Anne Klein AK Sport - Sloane Black,Nike Zoom Fly 2 Womens Pink Blast/Electric Green/White/Black Running Shoes V68666Womens Shoes Anne Klein Ardmore Red,, 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 Shoes Anne Klein Rampup Navy Multi Fabric,Nike Kids Flex 2015 Run Cool Grey/University Red/Black/Metallic Silver UK#N5-9149Womens Shoes Badgley Mischka Flash II Pewter Metallic Suede,.

Finally, Womens Shoes C Label Liberty-13 Black/Grey,Nike Kids Zoom Pegasus 32 Black/White/Vivid Pink UK#N5-9573Womens Boots Calvin Klein Jeans Byra Dark Grey,, 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 Sandals Calvin Klein Tora Black Matte Snake Print Leather,Nike Kids Roshe One Print Copa/Blue Lagoon/White UK#N5-9547Womens Shoes Calvin Klein Karmen Black Hair Calf/Sheep Nappa,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Shoes Calvin Klein Dolly Lipstick Red,Nike Kids Flex Experience 4 Print Black/White/Metallic Silver UK#N5-9576Womens Shoes Calvin Klein Celia Platinum White,, 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 CARLOS by Carlos Santana Cort Black,Women's Nike Free 5.0 Tr Fit 5 Breathe Wolf Grey/Volt/White/Cyber UK#N5-9341Womens Boots Clarks Tempt Althea Black Leather,.

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 Clarks Jaelyn Fog Tan,Women's Nike Darwin Hyper Turquoise/Hyper Jade/Hyper Turquoise UK#N5-9525Womens Shoes Clarks Timeless Black Leather,, 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 Clarks Incast Pump Black Mesh,Women's Nike Golf Lunaradapt Pure Platinum/Hyper Pink/Cool Grey UK#N5-8719Womens Shoes Clarks Evianna Mix Brown,, 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 COACH Hickory Chestnut Soft Shine Calf,Ellesse Regent Nylon Backpack CP44Womens Sandals COACH Brittanie Black/Saddle Matte Calf,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Shoes COACH Moonlight High Top Black/Black Snake/Suede,Y3 Future Sport Backpack CP103Womens Boots Cole Haan Hayes Bootie Black Suede,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Shoes Cole Haan Elsie Open Toe Wedge II Rose Gold Metallic,Good For Nothing Logo Snapback CP184Womens Shoes Cole Haan Cary Venetian Black Nubuck,