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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 Sandals COACH Marla Warm Blush,Womens Shoes adidas Running Springblade Ignite Frozen Blue/Midnight Indigo/WhiteWomens Sandals COACH Margharita Gunmetal Star Metallic,.
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Assume, instead, Womens Sandals Cole Haan Lise Wedge Roccia,Womens Boots Aerosoles Cascade Dark Brown ComboWomens Sandals Cole Haan Arlette Sandal II Ivory/Acorn,, too, that, after 2023, Womens Shoes Cole Haan Sarina Ballet Black/White Print/Patent,Womens Boots Aerosoles Thermal Grey FabricWomens Shoes Cole Haan Highline Backzip Pump Black/White,. 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 Cole Haan Lena Mid Pump II Gold Metallic,Womens Boots Aerosoles Calendar BlackUnisex Shoes Converse Malden Racer Black,.
What, then, will be the features of this growing consumer market? A Womens Boots Aerosoles Long Stride Brown 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 Boots ECCO Touch 55 Tall Buckle Boot Coffee/Coffee,Womens Sandals Aerosoles A2 by Aerosoles Wip Current White PUWomens Sandals ECCO Bouillon Knot Sandal II Olive/Olive,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes ECCO Mobile III Casual Sneaker Black,Womens Sandals Aerosoles A2 by Aerosoles Eyes On You BlackWomens Shoes ECCO Golf Biom Golf Hybrid White/Dynasty,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots GUESS Tafn Wide Calf Brown Nappa PU,Womens Sandals Aerosoles A2 by Aerosoles Photo Plush SilverWomens Shoes GUESS Ara Blue Suede,, argues the report,Womens Shoes GUESS Honora White Multi/Rich Cobalt,Womens Sandals Aerosoles Say-Yes White ComboWomens Boots Naturalizer Bromstad Bridgette Black Leather/Embossd Snake Smooth/Fur Lining,.
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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 PUMA Puma Vikky Blur Black/Coral Cloud Pink,Womens Shoes Aerosoles Dimprint Navy ComboWomens Shoes Reebok Sport Ahead Action RS Neon Cherry/White/Poppy Red,, 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 Rocket Dog Dundee Grey Creek,Womens Boots ALDO Paleven Black MicrosuedeWomens Sandals Rocket Dog Rue Dusty Blue Coast,.
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 Rocket Dog Campo Black Quest,Womens Boots ALDO Linsey TaupeWomens Sandals Sam Edelman Dailey Black/Ivory,, 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 Sam Edelman Carol Modern Ivory,Womens Boots ALDO Nizza CamelWomens Shoes Sam Edelman Orella Grey Suede,, 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 Saucony Cohesion 9 Silver/Navy/Teal,Womens Sandals ALDO Kaoven WhiteWomens Shoes Superga 2750 Velvet Snake Beige Multi,.