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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, Women's Shoe NikeCourt Zoom Vapor 9.5 Tour 631475-146,Inexpensive 243957 Nike Shox R4 Men Grey Grey Shoes,Nike Cortez 07 Boys Preschool White/University Red Running Shoes V94631,.
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What, then, will be the features of this growing consumer market? A Shopping 147236 Nike Zoom Hyperfuse Tb Men Black Blue White Shoes, 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, Nike Air Max 1 Womens White/Black/Sport Fuchsia Running Shoes V88553,Shopping 225335 Onitsuka Tiger By Asics Mexico 66 Men Green Yellow Shoes,Nike Flex Experience Run 4 Womens Black/White/Vivid Purple Running Shoes V36776,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Lunareclipse + 5 Womens Black/Pure Platinum/White Running Shoes V24556,Comfortable 234726 Puma Cabana Racer II Lx Men Black Yellow Shoes,Men's Nike Vapor Speed Low D Sport Royal/White UK#N5-8757,.
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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 Nike Stefan Janoski Canvas Dots Trainer CP4613,Discount 172029 Nike Air Max 90 Premium Women Grey Pink White Shoes,Nike KD VIII 'Road Game' Trainer CP4787,, 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, Ralph Lauren Polo Jermain Trainer CP4954,Inexpensive 211710 Nike Classic Cortez Nylon Qs Aloha Women Red Black Shoes,Vans Old Skool Trainer CP5096,.
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 adidas adissage Black/Bahia Pink,Buy 184728 Nike Dunks High Women Super Mario Red White Blue Shoes,Womens Shoes adidas by Stella McCartney Adipure Pale Pink/Toasted Orange/Runner Red,, a collapse of the global economy, domestic political upheaval — comes in the way of continued progress.
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