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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 Raja Coral Suede,Womens Sandals Calvin Klein Jeans Valeri Black Safiano LeatherWomens Boots Hunter W Original Short BT Refined Mineral Blue/Midnight,.
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What, then, will be the features of this growing consumer market? A Womens Shoes Calvin Klein Calida Steel Metallic Box 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 Dual Fusion TR 3 Black/Wolf Grey/Pink Pow,Womens Shoes Calvin Klein Ginae Black PatentWomens Shoes Nike Air Zoom Elite 8 White/Dark Grey/Black/Pure Platinum,.
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 Free 5.0 TR Fit 5 Wolf Grey/Voltage Green/Dark Grey,Womens Shoes Calvin Klein Brie Black Patent/ElasticWomens Shoes Nike Golf FI Impact White/Wolf Grey/Dark Grey/Black,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Sandals PATRIZIA Boppe Navy,Womens Shoes Calvin Klein Anabelle Steel Metallic LeatherWomens Sandals PATRIZIA Nye Black,, argues the report,Womens Shoes PUMA Sequence Black/Puma Silver/Virtual Pink,Womens Shoes Calvin Klein Cecily Pewter Saffiano LeatherWomens Shoes PUMA Eskiva Mid Whisper White/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 Boots UGG Classic Short Serape Cream Twinface,Womens Sandals CARLOS by Carlos Santana Seville Spicy CoralWomens Shoes UGG Tomi Chestnut Leather 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 Under Armour UA Spine Glyde ST CC Black/White,Womens Sandals CARLOS by Carlos Santana Farrah BlackWomens Sandals Vaneli Ellis Black Mag Patent/Balck Mesh/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 Sandals Vaneli Bebra Black Patent/White Nappa,Womens Shoes CARLOS by Carlos Santana Liza BlackWomens Shoes Vaneli Laureen 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 Shoes Vaneli Gaenor Dark Green Suede,Womens Boots Clarks Mullin Clove Black LeatherWomens Shoes Vaneli Rosaria Bone Ecco Nappa,, 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 Running Climachill Short,Womens Boots Clarks Glick Willa Navy NubuckHurley One And Only Luxe,.