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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 Sandals CARLOS by Carlos Santana Bondi Red Floral,Nike Free 5.0 2015 Boys Grade School Dark Obsidian/Hot Lava/White/White Running Shoes V51436,Womens Boots Clarks Enfield Ellen Black Leather,.
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Assume, instead, Womens Shoes COACH Teddie Bronze,Adidas J Wall Mens Black/White/Aluminum Basketball Shoes V32556,Womens Boots Cole Haan Daelin Riding Boot Sequoia/Chestnut,, too, that, after 2023, Womens Sandals Cole Haan Jillian Wedge Black,Adidas Pure Boost Mens Black/White/Clear Grey/City Blur Running Shoes V33654,Womens Shoes Cole Haan Bowie Slipon Sneaker Black/Vanilla Snake Print,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Shoes Cole Haan Pinch Grand Tassel Estate Blue Suede,Adidas Adissage Comfort Fitfoam Mens White/Black/Vivid Red Slippers V88564,Womens Boots ECCO Sport Trace Zip Coffee/Coffee,.
What, then, will be the features of this growing consumer market? A Adidas Messi 15.3 Fg Mens Black/Solar Green/Solar Red Soccer Shoes V27844, 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 ECCO Damara Tie Cognac,Nike Air Max 2016 Mens White/Black Running Shoes V86572,Womens Sandals GUESS Shanan Yellow Suede,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes GUESS Gilby Gray,Nike Air Max Tavas Mens White/Black Running Shoes V86704,Womens Boots Naturalizer Tricia Wide Calf Camel Wide Calf Smooth,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Naturalizer Kipper Ginger Snap Nubuck,Nike Flyknit Racer Mens Neo Turquoise/Bright Crimson/Glacier Ice Running Shoes V65928,Womens Shoes New Balance WW980 Black,, argues the report,Womens Shoes New Balance WX811 Black/Pink,Nike Roshe One Mens Daring Red/Black/Gym Red/Team Red Running Shoes V49019,Womens Shoes Nike Free 5.0 V4 Pure Platinum/White/White,.
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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 Sandals Vaneli Mallory Roccia Vero Print,Men's Nike Tiempo Mystic V FG Pure Platinum/Black/Hyper Orange UK#N5-8946,Womens Shoes Vaneli Blowy Platino Metallic Nappa,, 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 Vaneli Sherye Black Silver Assy Fabric,Nike Kids Benassi JDI Black/White UK#N5-8797,KD Clutch Elite Shooter,.
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. Nike Momentum Fly,Nike Kids Hyperdunk 2015 Black/University Red/Metallic Silver UK#N5-9121,Evolution MA Jacket,, 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”. Women's Rita Ora Trapeze Tee,adidas Originals Classic Gym Sack CP11,Nike 3" Sidewinder Epic Lux,, 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 Colombia Knit Anthem Jacket,Women's Nike Lunarelement Black/Laser Crimson/Dark Grey/White UK#N5-9610,Nike Golf Graphic,.