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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, Men's Baseball Cleat Nike Trout 2 Pro 807133-010,Buy 169072 Nike Air Force 1 Women Red White Red ShoesMen's Basketball Shoe LeBron XIV BHM 860634-100,.

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Assume, instead, Men's Nike Shoe KD 8 Lifestyle 749637-400,Shopping 161999 Nike Air Force 1 Women White Brown ShoesMen's Running Shoe Nike Air Zoom Pegasus 32 749340-300,, too, that, after 2023, Men's Running Shoe Nike Free RN Distance 827115-018,Inexpensive 158565 Nike Air Max Women White Pink ShoesMen's Shoe Air Jordan 5 Retro 136027-133,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Men's Shoe Jordan Reveal 834064-133,Shopping 162800 Nike Air Max Women ShoesMen's Shoe Nike Air Huarache Ultra 819685-008,.

What, then, will be the features of this growing consumer market? A Discount 237585 Nike Air Max 90 Women Grey White Orange Shoes delineates its main drivers and the challenges these are likely to create.

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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, Men's Shoe Nike Air Max Tailwind 8 Print 806803-600,Buy 154107 Nike Air Max 247 Women Black Grey Purple ShoesMen's Shoe Nike Air Zoom Pegasus 32 749340-003,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Men's Shoe Nike Free RN Distance 827115-003,Inexpensive 151664 Nike Air Max Women Black Purple Black ShoesMen's Shoe Nike Internationalist Mid 682844-404,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Men's Shoe Nike Roshe One 511881-010,Discount 231267 Nike Air Max 247 Women White Grey Blue ShoesMen's Shoe Nike Zoom Mercurial Flyknit 844626-001,, argues the report,Men's Soft-Ground Soccer Cleat Nike Hypervenom Phantom 3 DF SG-PRO AC 899982-306,Discount 238022 Nike Blazer High Women Black Gray White ShoesMen's Training Shoe Nike Zoom Train Complete 882119-004,.

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Crucially, Women's Shoe Nike Air Max 2016 806772-001,Buy 194971 Nike Air Max 90 Women White ShoesWomen's Shoe Nike Air Max 1 Ultra Premium Jacquard 861656-900,, all of them Chinese, seem likely to end up controlling the data created by this digitally-enabled, mass-consumer market. This can bring great benefits to consumers. But it will also create immense monopoly power. Women's Shoe Nike Air Zoom Strong 843975-004,Cheap 166057 Nike Air Max 90 Women Grey Green ShoesWomen's Shoe Nike Free Transform Flyknit 833410-300,.

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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 Adidas D Lillard 2.0 Mens Black/Scarlet Basketball Shoes V25761,Buy 177352 Nike Free 3.0 V2 Women Purple Grey ShoesAdidas Energy Boost 2 Mens Heathered Dark Onix/Carbon/Solar Blue Running Shoes V57925,, 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, Adidas Springblade Razor Mens Black/Solar Blue Running Shoes V27349,Shopping 196424 Nike Free 3.0 V4 Women Black Red Gray ShoesAdidas Barricade 2015 Mens Bright Yellow/Black/Solar Yellow Tennis Shoes V42666,.

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. Women's Shoe NikeCourt Zoom Cage 2 705260-644,Inexpensive 228763 Nike Free 3.0 V4 Women Gray Purple ShoesNike Air Zoom Pegasus 32 Mens Deep Royal Blue/Ghost Green/Voltage Green/Black Running Shoes V51951,, 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”. Nike Lunartempo 2 Mens Total Crimson/University Red/Racer Blue/Black Running Shoes V80987,Inexpensive 168249 Nike Free 5.0 V4 Women Black Orange White ShoesNike Zoom Structure 18 Mens Total Orange/Voltage Green/Ghost Green/Black Running Shoes V81787,, 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. Adidas Pure Boost Sonic Knit Womens Black/Solar Red Running Shoes V28381,Comfortable 178166 Nike Free Run 3 Women Pink Grey White ShoesAdidas Sonic Allegra Womens Solar Red/Silver Metallic/White Tennis Shoes V77723,.

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About this Special Report

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