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Womens Boots Cole Haan Indiana Short Boot Waterproof Chestnut Suede,Womens Sandals ALDO Reinelle BlackWomens Sandals Cole Haan Arden Wedge Sunlight Nubuck,. Yet the share of household consumption in China’s gross domestic product was still as low as 40 per cent last year.

Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Womens Sandals Cole Haan Barra Sandal Woodbury,Womens Shoes ALDO Leinan NudeWomens Shoes Cole Haan Raven Hightop Sneaker Black Shearling,.

Womens Shoes Cole Haan Cary Venetian Grey Jade Nubuck,Womens Shoes ALDO Choewia Rose GoldWomens Shoes Cole Haan Hollis Sandal Black,. The corresponding figures for the US are 13 per cent and 2 per cent. Thereafter their growth is forecast at 8 and 4 per cent respectively, in nominal terms (or 5 and 2 per cent in real terms). Womens Shoes Cole Haan Viveca Blazer Blue Suede,Womens Shoes ALDO Ramiya OxbloodUnisex Shoes Converse Chuck Taylor All Star Seasonal Ox Chili Paste,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Boots ECCO Elaine Tall Boot Black/Black,Womens Shoes ALDO Aoisa BoneWomens Sandals ECCO Dagmar Buckle Slide Powder,, too, that, after 2023, Womens Shoes ECCO Damara Slip-On Birch,Womens Shoes ALDO Newbrook ChampagneWomens Shoes ECCO CS14 Casual Sneaker Black/Black/Black/Dark Shale Metallic,. 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 GUESS Delilan Leopard Fabric,Womens Shoes ALDO Cornelina BlackWomens Sandals GUESS Addey Multi Fabric,.

What, then, will be the features of this growing consumer market? A Womens Shoes ALDO Aceidia-U Fuchsia 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, Womens Shoes GUESS Kaydden Black,Womens Boots Anne Klein Klye Brown LeatherWomens Boots Hunter Original Refined Gloss Thundercloud,.

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 Quintana Black Leather,Womens Boots Anne Klein Callforth Black LeatherWomens Sandals Naturalizer Finale White Leather,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Naturalizer Hampshire Bridal Brown/Burnt Siena Leather,Womens Sandals Anne Klein AK Sport - Kachine Pewter FBWomens Shoes Naturalizer Joana Mali Blue Suede,, argues the report,Womens Shoes New Balance WMD800v3 Blue/Bright Cherry,Womens Boots Anne Klein Fedya Black LeatherWomens Shoes New Balance Fresh Foam Zante Blue/Pink,.

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Womens Shoes New Balance W645 Silver Mink,Womens Sandals Anne Klein Whitly Black Multi FabricWomens Shoes Nike In-Season TR 4 Black/Cool Grey/White,. Hema, for example, is a start-up, backed by the Alibaba Group. As I witnessed during a recent visit to Alibaba’s headquarters in Hangzhou, a Hema store is a mixture of supermarket, restaurant, distribution centre and online store. Womens Shoes Nike Flex Trainer 5 Black/Anthracite/White,Womens Sandals Anne Klein Ristina Black/Black LeatherWomens Shoes Nike Genicco Cool Grey/Anthracite/White/Fiberglass,.

Crucially, Womens Shoes Nike Flex Supreme TR4 Racer Blue/Concord/Blue Tint/Volt,Womens Shoes Anne Klein AK Sport - Moyna Charcoal PatentWomens Boots PATRIZIA Plush Brown,, 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. Womens Sandals PATRIZIA Vaciller Black,Womens Shoes Anne Klein Barb Grey Twinkle LeatherWomens Shoes PATRIZIA Cogsworth Black,.

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Finally, Womens Shoes PUMA Golf Monolite Cat Mesh Italian Plum/Purple Wine/Cayenne,Womens Shoes Anne Klein Fion Taupe LeatherWomens Shoes Reebok Trailgrip RS 4.0 Night Beacon/Alloy/Collegiate Navy/Luminous Lime,, according to the World Bank. Urbanisation could rise to 70 per cent by 2027 and then to the over 80 per cent normal in the advanced economies, with most of the new inhabitants moving to Tier 2 and Tier 3 cities and inland, Womens Boots Rocket Dog Shoutout Black Coast,Womens Shoes Anne Klein Yahaira Tweed FabricWomens Shoes Rocket Dog Rynna Dove Coast,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Boots Sam Edelman Paige Honey Wayne Nubuck Leather,Womens Shoes Anne Klein Vilko Black/Black FabricWomens Sandals Sam Edelman Demi Black Talco Kid Leather,, 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 Sam Edelman Allison Classic Nude,Womens Shoes Anne Klein AKBloomia Grey/Pewter SuedeWomens Shoes Saucony Velocity 5 Purple/Pink/Light Blue,.

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 Saucony Originals Jazz Low Pro Vegan Green,Womens Shoes Anne Klein Petrica White LeatherWomens Boots Timberland Savin Hill Medium Shaft Tall Boot Wheat Forty Leather,, 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 Boots UGG Dree Dark Chestnut,Womens Shoes ASICS Gel-Galaxy 8 Dark Grey/Silver/Flash CoralWomens Boots UGG Kiings Black Leather/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 Boots UGG Cobie Fawn/Water Resistant Leather,Womens Shoes Badgley Mischka Lavender II Navy SatinWomens Sandals UGG Lyndi Chestnut Leather,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Womens Boots Vaneli Artemis Black Suede/Brown Coryl,Womens Shoes Badgley Mischka Lavender Silver Metallic SuedeWomens Sandals Vaneli Taletha Black E-Print,. Shenzhen’s tech trailblazers are anxious about rising property prices. Womens Shoes Vaneli Rona Nude Krink Patent,Womens Boots C Label Cupcake-1 ChestnutWomens Shoes Vaneli Grania Taupe Miniliz/Black Elastic,