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Nike Zoom Vomero 10 Womens Copa/Black/Fuchsia Glow/Vivid Purple Running Shoes V47828,Women's Shoe Nike Air Max 90 Ultra Essential 724981-008Men's Nike DF Ballistec Advantage White/Midnight Navy/Black/Total Orange UK#N5-9427,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Men's Nike Mercurial Finale TF Urban Lilac/Bright Mango/Black UK#N5-9487,Women's Shoe Nike Air Max Sequent 719916-802Nike Kids Roshe One Black/Metallic Silver/White UK#N5-9607,. 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, Women's Nike Vapor Court White/Chalk Blue/Obsidian UK#N5-9478,Women's Shoe Nike Air Max 90 Ultra Essential 724981-403Women's Nike Dual Fusion Trail Wolf Grey/Anthracite/Black/Pink Pow UK#N5-9467,.

Comutor 12 Hour Panel Backpack CP27,Women's Shoe Nike Air Max Thea EM 833887-001Mr Lacy Flat Laces CP361,. 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). Converse Infant Chuck Taylor All Star Ox Trainer CP490,Women's Shoe Nike Air Presto 878068-001adidas Originals Junior Gazelle 2 Trainer CP594,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Nike Junior SB Check Trainer CP639,Women's Shoe Nike Air Rift Greyadidas Originals Nursery ZX Flux Trainer CP726,, too, that, after 2023, Nike Junior Roshe Run One Trainer CP666,Women's Shoe Nike Air Max Thea Textile 819639-100Jack & Jones Tim Original GE 205 Jean CP892,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Condemned Nation Trank Longline Overhead Hooded Top CP981,Women's Shoe Nike Cortez Ultra BR 833801-001Jack & Jones Rider Raised Print Hooded Top CP1089,.

What, then, will be the features of this growing consumer market? A Women's Shoe Nike Cortez Ultra BR 833801-400 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 Hooded Top CP1185,Women's Shoe Nike Air Zoom Vomero 11 818100-501Bellfield Tenant Rain Jacket CP1240,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Creative Recreation Martell Nylon Jacket CP1319,Women's Shoe Nike Free Connect 843966-101Jack & Jones Hutch Zip Jacket CP1417,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Rains Classic Jacket CP1511,Women's Shoe Nike Free TR 6 Print 833424-002Kings Will Dream Carson hooded Top CP1094,, argues the report,Brave Soul Ancoats Cargo Short CP2092,Women's Shoe Nike Free Transform Flyknit 833410-500The North Face Ampere Dual Short CP2209,.

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Oiler & Boiler Tuckernuck Shortie Swimmer Short CP2331,Women's Shoe Nike Free Transform Flyknit 833410-002Converse Core Fleece Suit CP3591,. 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. adidas Originals Adilette Slide Sandal CP3810,Women's Shoe Nike Roshe Two Flyknit 365 861706-001Drome Twisted Lace Loafer CP3909,.

Crucially, adidas Originals ZX Flux Trainer CP3998,Women's Shoe Nike LunarGlide 8 Shield 849569-002adidas Originals Seeley Woven Trainer CP4080,, 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. Armani Jeans Tonal Suede Leather Trainer CP4190,Women's Training Shoe Nike Lunar Sculpt 818062-403Converse Chuck Taylor All Star Ox Mono Trainer CP4271,.

Finally, Hugo Boss Gym Knit Trainer CP4499,Nike Free 5.0 2015 Girls Toddler White/Chalk Blue/Volt/White/Bright Mango Running Shoes V89635Nike Air Safari Trainer CP4589,, 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, Nike Air Max 1 Trainer CP4672,Nike Flex Fury 2 Girls Toddler Chalk Blue/Metallic Silver/White Running Shoes V43799Nike Air Trainer Huarache CP4782,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Puma Suede Classic Trainer CP4915,Adidas D Lillard 2.0 Boys Preschool Black/Scarlet Basketball Shoes V25589Superga 2750 Cotu Classic Trainer CP5005,, 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, Vans Atwood Canvas Trainer CP5115,Nike Cortez 07 Boys Preschool White/Black Running Shoes V86331adidas Originals Womens Adilette Slide Sandal CP5207,.

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 adidas Volley Response Boost Black/Silver Metallic/Power Red,Nike Flex Fury 2 Boys Preschool Chalk Blue/Metallic Silver/White Running Shoes V43815Womens Shoes adidas Originals SL Loop Racer W Clear Green/Dark Slate/White,, 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 Aerosoles Ride with Me Dark Brown Combo,Adidas Adizero Crazy Light 2 Boys Grade School Black/White/Regal Purple Basketball Shoes V35695Womens Sandals Aerosoles Yetaway Tan Snake,, 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 Shoes Aerosoles Gondola Brown,Adidas D Rose Lakeshore Boys Grade School Black/Light Scarlet Basketball Shoes V21305Womens Boots ALDO Etiwiel Rust,.

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