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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 Calvin Klein Neive Winter Taupe Kid Suede/Patent,Nike Air Max 90 Girls Grade School Copa/Blue Lagoon/White Running Shoes V48127,Womens Shoes Calvin Klein Collection Gess Haircalf Heel Black,.
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Assume, instead, Womens Shoes Clarks Un Hearth Pewter Metallic,Adidas Cosmic Boost Mens Solar Orange/Bright Cyan/Bold Orange Running Shoes V77306,Womens Sandals COACH Cottage Canary Soft Vegan Leather,, too, that, after 2023, Womens Shoes COACH Lara Gunmetal Studded,Adidas Supernova Sequence 8 Mens Grey/Metallic Silver/Solar Yellow Running Shoes V56905,Womens Boots Cole Haan Wesley Tall Boot Chestnut,. 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 Elsie Slide 40 II Black,Adidas Adissage Mens New Navy/White Slippers V66235,Womens Shoes Cole Haan Amalia Skimmer Ironstone Metallic Lizard Print/Ironstone,.
What, then, will be the features of this growing consumer market? A Nike Air Max Excellerate 4 Mens Cool Grey/Wolf Grey/Dark Grey/Black Running Shoes V47724, 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 Jenni Ballet II Roccia Snake Print,Nike Air Max 90 Ultra Mens White/Neutral Grey/Laser Black Running Shoes V92817,Womens Boots ECCO Touch 25 Buckle High Black,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes ECCO Mobile III Premium Sneaker Moon Rock/Moon Rock/Warm Grey/Warm Grey Metallic,Nike Air Zoom Structure 19 Flash Mens Squadron Blue/Reflective Silver/Blue Lagoon Running Shoes V791,Womens Boots GUESS Adara Pewter Leather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes GUESS Honora Natural Ombre Patent,Nike Free 5.0 2015 Mens Black/Dark Grey/Cool Grey/White Running Shoes V17271,Womens Boots Naturalizer Darena Oxford Brown Suede,, argues the report,Womens Shoes Naturalizer Ivan Caravan Sand Nubuck,Nike Tri Fusion Run Mens Black/Green Strike/Cool Grey/White Running Shoes V19265,Womens Shoes New Balance WX711 Black/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 Boots UGG Classic Mini Liberty Asphalt,Men's Nike Air Max Invigor Game Royal/White UK#N5-8982,Womens Slippers UGG Belle Moonstone Hearts Suede,, 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 Vaneli Eglon Black Smack Patent/Acciao Speed/Gunmetal Trim,Men's Nike Zoom Cage 2 Black/Hot Lava/Metallic Dark Grey UK#N5-9263,Womens Shoes Vaneli Sigrid Fango Suede/Mtch Elastic/Gold Chains,.
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 Vaneli Scarlet Navy Suede/Gunmetal Studs,Nike Kids Jr Hypervenom Pro IC Soccer Wolf Grey/White/Total Orange UK#N5-9182,Women's Running Climachill Crop Top,, 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”. Evolution Top,Women's Nike Free 5.0 Print Voltage Green/Hyper Orange/White/Black UK#N5-9048,Jordan Varsity,, 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 Trefoil Shoe Box Hoodie,Vans Van Doren Backpack CP102,Men's Response Tee,.