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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 Calvin Klein Camella Cocoon Box Leather,Nike Zoom Team Edition Trainer CP4598Womens Shoes Calvin Klein Patna Sandstorm Leather/Snake Print Leather,.
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Assume, instead, Womens Sandals Clarks Alto Gull Beige Leather,Nike Stefan Janoski Max Trainer CP4615Womens Sandals Clarks Tresca Track Black,, too, that, after 2023, Womens Shoes Clarks Caswell Genoa Black,Nike Air Rift Trainer CP4657Womens Shoes Clarks Ciera Tide Black 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 Shoes Clarks Idella Cate Black,Nike Air Flight 89 Trainer CP4630Womens Shoes Clarks Preslet Sheen Tan,.
What, then, will be the features of this growing consumer market? A Nike Air Max Thea Trainer CP4634 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 COACH Cottage Platinum Metallic Tumbled,Nike Air Max Tavas Trainer CP4668Womens Sandals COACH Vitalia Cinnamon Semi Matte Calf,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes COACH Amelia Black Shearling,Nike Free Socfly Trainer CP4700Womens Shoes COACH Richmond Swagger Hi Top Wedge Natural,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots Cole Haan Hayden Bootie Black,Nike Air Trainer 3 CP4685Womens Sandals Cole Haan Air Melissa Buckle Thong Ivory/White Gold,, argues the report,Womens Sandals Cole Haan Cady High Sandal Black,Nike Paul Rodriguez 9 Elite Trainer CP4727Womens Shoes Cole Haan Amalia Skimmer Black Suede/Black,.
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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 Shoes New Balance W1260v4 Blue/Pink,Puma Suede Classic Trainer CP4887Womens Shoes New Balance Vazee Rush Purple/White 1,, 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 Cheer Compete White/White/Pure Platinum,Ralph Lauren Polo Hanford Nylon Trainer CP4933Womens Shoes Nike Air Max Siren Print Pure Platinum/White/Metallic Silver,.
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 Nike Air Zoom Pegasus 32 Flash Noble Purple/Vivid Purple/Copa/Reflect Silver,Ransom Path Lite Trainer CP4969Womens Shoes Nike Air Vapor Ace White/Stealth/Chalk Blue,, 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 PATRIZIA Crave Black,Superga 2750 Cotu Classic Trainer CP5004Womens Sandals PATRIZIA Gamma Bronze,, 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. Unisex Shoes PUMA Suede Mid Classic + Grey Violet/Peacoat,Vans Authentic Trainer CP5058Womens Shoes PUMA The Suede Winterized Rugged Black/Black,.