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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 Espie Black Suede,Womens Shoes Calvin Klein Nalani Silver/Platinum White Painted Snake MetallicWomens Boots Naturalizer Macnair Wide Shaft Black Wide Shaft Leather,.
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Assume, instead, Womens Shoes New Balance WW999 Brown,Womens Shoes Calvin Klein Shelley Black PatentWomens Shoes New Balance 1296v1 White/Blue,, too, that, after 2023, Womens Shoes New Balance WX88v1 Black/Pink,Womens Shoes Calvin Klein Calida Black Matte LizardWomens Shoes New Balance Classics WL574 - Pique Polo Collection Blue/Textile,. 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 Air Max Thea Hot Lava/Sunset Glow,Womens Shoes Calvin Klein Camella Silver Metallic Box LeatherWomens Shoes Nike Air Max Siren Print Militia Green/Dark Loden/Summit White/Black,.
What, then, will be the features of this growing consumer market? A Womens Shoes Calvin Klein Patna Shadow Grey/Black Hair Calf/Leather 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 Shoes Nike LunarTempo Hyper Orange/Summit White/Bright Crimson/Black,Womens Shoes Calvin Klein Ellasandra Cocoon LeatherWomens Shoes Nike Air Vapor Ace White/Stealth/Bright Mango,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Boots PATRIZIA Angelique Brown,Womens Shoes Calvin Klein Anabelle Platinum White Leather/PatentWomens Sandals PATRIZIA Boppe Beige,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Sandals PATRIZIA Nanor Beige,Womens Shoes Calvin Klein Harlin Sandstorm Kid SuedeWomens Shoes PATRIZIA Grandview Beige,, argues the report,Womens Shoes PUMA Match Vulc Black/Fair Aqua,Womens Shoes Calvin Klein Tullie White/Neon Yellow Leather/Patent/SuedeWomens Shoes Reebok ZigKick 2K15 Citrus Glow/Foggy Grey/Solar Yellow/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 UGG Syleste Red Textile,Womens Boots Clarks Ingalls Vicky2 - Wide Shaft Black LeatherWomens Slippers UGG Dakota Flora Perf Chestnut Water Resistant Suede,, 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 Jacie Black Suede/Black T. Nicole,Womens Shoes CARLOS by Carlos Santana Serafina ZincWomens Sandals Vaneli Mallory Roccia Vero 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 Sigrid Black Suede/Mtch Elastic/Gunmetl Chains,Womens Boots Clarks Morela Liza Black LeatherWomens Shoes Vaneli Luella Black Mag Patent/Gunmetal Buckle,, 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 Neddy Tmoro Suede,Womens Boots Clarks Pita Dakota Dark Brown LeatherWomens Shoes Vaneli Rodina Bark Dream Calf,, 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. Kobe Mambula Hyper Elite Full-Zip,Womens Boots Clarks Fianna Holly Brown LeatherJordan 23,.