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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 Shoes GUESS Babbitt Black,Womens Shoes Calvin Klein Gradyn White Graphic LeatherWomens Boots Naturalizer Byron Black Smooth,.

Womens Boots Naturalizer Josephine Wide Calf Black,Womens Shoes Calvin Klein Nathali Black Kid SuedeWomens Sandals Naturalizer Jazzy Tender Taupe Leather/Mocha Metallic,. 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 Shoes Naturalizer Lifetime Grey Heather Fabric,Womens Shoes Calvin Klein Gerarda Cocoon PatentWomens Shoes Naturalizer Diner Caravan Sand/Tender Taupe Leather,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Shoes New Balance WW928 White,Womens Shoes Calvin Klein Nathali Deep Navy Kid SuedeWomens Shoes New Balance W890V5 Silver/Blue,, too, that, after 2023, Womens Shoes New Balance RC1400v3 Pink/Yellow,Womens Shoes Calvin Klein Kinsley Cocoon Cow SilkWomens Shoes New Balance Fresh Foam Boracay Blue/Yellow,. 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 Nike Revolution 2 Anthracite/Light Magenta/Black/Hyper Jade,Womens Shoes Calvin Klein Celesse Dark Cherry Kid SuedeWomens Shoes Nike Air Max Siren Black/Fuchsia Flash/Sail/Hot Lava,.


What, then, will be the features of this growing consumer market? A Womens Shoes Calvin Klein Gayle Dark Cherry Liquid Patent 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 Shoes Nike Free Cross Compete Soar/Volt/Black/White,Womens Shoes Calvin Klein Kena Black Microsuede/ElasticWomens Shoes Nike FS Lite Run 3 Cool Grey/Fuchsia Glow/White/Copa,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Nike Golf Lunar Embellish Black/Metallic Cool Grey/White,Womens Shoes Calvin Klein Gayle Sandstorm LeatherWomens Boots PATRIZIA Softcover Black,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Sandals PATRIZIA Kochi Gold,Womens Shoes Calvin Klein Coreene Shadow Grey Suede/Liquid PatentWomens Shoes PATRIZIA Senetti Beige,, argues the report,Womens Shoes PUMA Suede Classic Matt & Shine Black/Steel Gray,Womens Shoes Calvin Klein Nasha CocoonWomens Shoes PUMA Golf Sunnylite Mesh White/Omphalodes/Ultramarine,.

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Crucially, Womens Sandals Sam Edelman Keith Black,Womens Boots CARLOS by Carlos Santana Claudia BlackWomens Shoes Sam Edelman Ola Modern Ivory Snake,, 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 Sam Edelman Ciara Steel Grey Suede,Womens Shoes Calvin Klein Collection Gavin Tmoro BabycalfWomens Shoes Saucony Kinvara 6 Blue/Citron,.

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Finally, Womens Boots Timberland Authentics Teddy Fleece Fold-Down Port Rugged Metallic Finish,Womens Boots CARLOS by Carlos Santana Everett TaupeWomens Boots UGG Thomsen Stout,, 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 Boots UGG Everglayde Black Suede,Womens Sandals CARLOS by Carlos Santana Melinda BrownWomens Boots UGG Wilowe Black Leather,.

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 Abree Short Rust,Womens Sandals CARLOS by Carlos Santana Finesse FuchsiaWomens Slippers UGG Dreams Grey Sequin Skulls,, 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 Boots Vaneli Reagan T.Moro Suede/Matching Elastic,Womens Shoes CARLOS by Carlos Santana Loral Black/MustangWomens Sandals Vaneli Martey Black Pesca Fabric/Black Mag Patent/Gunmetal 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 Shoes Vaneli Milka Black Nappa/Pewter Chain,Womens Boots Clarks Mariella Busby Dark Tan LeatherWomens Shoes Vaneli Marga Navy Suede/Navy 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 Morgan Black Suede/Black Nappa,Womens Boots Clarks Volara Melody Rust LeatherWomens Shoes Vaneli Tany Ecru Mag Patent,, 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. Women's Studio Zebra Three-Quarter Tights,Womens Boots Clarks Un Arlyn Dark Brown LeatherNike Tech Fleece,.

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