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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 Shoes Clarks Concert Band Brown Metallic Leather,Timberland Womens 6 Inch Premium Boot CP5181Womens Shoes Clarks Festival Gold Black Combi,.
Womens Shoes Clarks Lorry Marlin Black,Toms Womens Classic Slip On Lace Espadrille CP5202Womens Shoes Clarks Un Hearth Black Leather,. 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 Boots COACH Eva Chestnut/Chestnut Extended Leather,Timberland Womens Earthkeepers Amston 6 Inch Boot CP5174Womens Sandals COACH Cottage Canary Soft Vegan Leather,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Womens Shoes COACH Phoebe Black/Black Semi Matte Calf,adidas Originals Womens Adilette Slide Sandal CP5205Womens Shoes COACH Sandford Saddle Soft Milled Leather,, too, that, after 2023, Womens Shoes COACH Olive Flint Sand Printed Snake,adidas Originals Womens ZX Flux Zero Tech NPS Trainer CP5258Womens Boots Cole Haan Dey Bootie Chestnut Leather,. 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 Cole Haan Air Ezra Slide White Gold Metallic,Havaianas Womens Metallic Logo Flip Flop CP5232Womens Sandals Cole Haan Murley Wedge Black,.
What, then, will be the features of this growing consumer market? A adidas Originals Womens Superstar Foundation Trainer CP5267 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 Shoes Cole Haan Tali Lace Wedge Roccia Snake Print/Cremini Patent,Womens Sandals adidas Cloudfoam Ultra Thong Flash Orange/White/Solar PinkWomens Shoes Cole Haan Cyro Sandal Black/Roccia Snake Print,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Cole Haan Jenni Buckle Ballet II Blazer Blue/Patent,Womens Boots adidas Outdoor CW Choleah Sneaker Midnight Grey/Chalk White/BlackUnisex Shoes Converse Chuck Taylor All Star Zip Hi - Tumbled Goat Turtledove,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots ECCO Touch 25 Buckle Boot Tarmac/Tarmac,Womens Shoes adidas Barricade V Classic Core White/Clear Onix/Silver MetallicWomens Sandals Ecco Performance Kana Sandal Shadow White,, argues the report,Womens Shoes ECCO Babett Tie Moon Rock,Womens Shoes adidas Abbott Pro Metal 2.0 Collegiate Navy/Running WhiteWomens Shoes ECCO Sport Biom Train Black/Black,.
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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 Nike Air Max Sequent Black/Wolf Grey/White/Metallic Hematite,Womens Boots Aerosoles Golden Key Black LeatherWomens Sandals PATRIZIA Salome Olive Green,, 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 Sandals PATRIZIA Soren Red,Womens Boots Aerosoles Plantation Dark Brown SuedeWomens Shoes PUMA Pulse XT Graphic Blue Coral/Clearwater,.
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 Reebok Reebok Royal Lumina Black/Black/Black/Reebok Royal,Womens Boots Aerosoles Ride with Me Black ComboWomens Boots Rocket Dog Sebastian Brown Burnie,, 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 Rocket Dog Wavey White Hawaii Dream,Womens Boots Aerosoles Enamel Black ComboWomens Boots Sam Edelman Belinda Soft Saddle Kid Suede Leather,, 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 Sandals Sam Edelman Randi Jute,Womens Sandals Aerosoles Enchlave WhiteWomens Shoes Sam Edelman Ivy New Nude Leopard,.