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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 Boots Clarks Enfield Ellen Black Leather,Nike Air Max 90 Boys Grade School White/Black/Volt/Pink Blast/Total Orange Running Shoes V88627,Womens Sandals Clarks Leisa Bloom Coral Leather,.
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Assume, instead, Womens Boots Cole Haan Balthasar Bootie Sea Otter,Adidas D Rose 5 Boost Mens Cardboard/Light Brown/Night Brown Basketball Shoes V43397,Womens Sandals Cole Haan Amavia Sandal Black,, too, that, after 2023, Womens Shoes Cole Haan Sarina Ballet Washed Indigo Snake Embossed/Patent,Adidas Cosmic Boost Mens Solar Blue/Black Running Shoes V75721,Womens Shoes Cole Haan Lena Open Toe Pump 75 II Black Patent,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Sandals ECCO Touch 45 Wedge Sandal Trooper/Ice Flower/Ice Flower,Adidas Supernova Boost Glide 8 Mens Black/White/Green Running Shoes V34585,Womens Shoes ECCO Brooklyn Pump Black/Gold Antic,.
What, then, will be the features of this growing consumer market? A Adidas Barricade 8+ Mens White/Black/Clear Onix Tennis Shoes V87545, 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 GUESS Guavva Tan 1,Nike Air Max 2016 Mens Summit White/White/Black Running Shoes V79537,Womens Shoes GUESS Zanie Denim,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Boots Naturalizer Veracruz Grey,Nike Air Zoom Structure 19 Mens Black/Volt/Blue Lagoon/White Running Shoes V30033,Womens Shoes Naturalizer Maude Coffee Bean Leather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes New Balance WT610v4 Grey/Purple,Nike Free 5.0 2015 Mens Bright Crimson/White/Black Running Shoes V42160,Womens Shoes New Balance WE402OS1 Orcha,, argues the report,Womens Shoes Nike DF Ballistec Advantage White/Light Aqua/Classic Charcoal/Volt,Nike Shox Nz Mens White/Black/White Running Shoes V88954,Womens Shoes Nike Flex Experience Run 4 Black/Racer Blue/White/Chalk Blue,.
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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 Vaneli Sheary Champagne Pizzy Print,Men's Nike Magista Onda IC Metallic Pewter/Ghost Green/Black UK#N5-8842,Unisex Shoes Vans Era 59 (Cork Twill) Incense,, 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, Hurley Phantom Solid Beachrider,Men's Nike SB Satire Black/Black/Black/Black UK#N5-9621,Nike Dri-FIT Knit Half-Zip,.
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. Men's Chilcott Shorts,Women's Nike Free 5.0 Tr Fit 5 Breathe Wolf Grey/Volt/White/Cyber UK#N5-9341,Golf Key Stripe Polo,, 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”. Basic Boxer Shorts 2 Pack,Hype Hype Backpack CP60,Nike Strike Stretch Longer Woven,, 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. Men's adizero Tee,Converse Infant Chuck Taylor All Star Ox Leather Mono Trainer CP483,Nike Motion,.