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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 Clarks Caslynn Dylan Grenadine Leather,Adidas Element Refine Mens University Red/Light Maroon/Solar Blue Running Shoes V82531,Womens Shoes Clarks Florine Portia Beige Leather,.

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Assume, instead, Womens Sandals Cole Haan Barra Sandal Woodbury,Nike Air Max Excellerate 4 Mens Black/Dark Grey Running Shoes V16701,Womens Shoes Cole Haan Cary Optic White,, too, that, after 2023, Womens Shoes Cole Haan Neara Pump Zinfandel Perf,Nike Air Max Tavas Mens Cool Grey/White/Pure Platinum Running Shoes V47709,Womens Boots ECCO Adel Mid Boot Espresso/Espresso,. 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 ECCO Touch 15 Scale Ballerina Black/Black,Nike Flyknit Lunar 3 Mens Racer Blue/Voltage Green/Sail/Black Running Shoes V71621,Womens Boots GUESS Valerine Leopard Fabric,.

What, then, will be the features of this growing consumer market? A Adidas Element Refine Boys Grade School Infrared/White/Black Running Shoes V60353, 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 Maadet Gold,Nike Zoom Structure 18 Mens Total Orange/Voltage Green/Ghost Green/Black Running Shoes V81488,Womens Boots Naturalizer Darena Oxford Brown 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 Naturalizer Debra Tender Taupe Leather,Adidas Pure Boost X Womens White/White/Shock Yellow Running Shoes V95849,Womens Shoes New Balance WW980 Grey,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes New Balance W575v2 Black/Pink,Adidas Supernova Sequence 8 Womens Solid Grey/Solid Grey/Sun Glow Running Shoes V78797,Womens Shoes Nike Primo Court Mesh White/White,, argues the report,Womens Shoes Nike Elite Shinsen Bright Crimson/University Red/Sail/Brigade Blue,Nike Air Huarache Womens Rio Teal/Rio Teal/Black Running Shoes V72713,Womens Boots PATRIZIA Glassglow Black,.

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Crucially, Womens Sandals Sam Edelman Galia Saddle,Nike Juvenate Womens Purple Dusk/White/Mulberry Running Shoes V70529,Womens Shoes Sam Edelman Britt Mocha Latte,, 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 Shoes Saucony Originals Jazz Original Charcoal/Light Green,Nike Zoom Vomero 10 Womens Copa/Black/Fuchsia Glow/Vivid Purple Running Shoes V47828,Womens Boots Timberland Icon 6" Premium Boot Wheat Rugged/Gold Metallic Finish,.

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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 Vaneli Danee Sand Pearl Nappa/Ecru Patent,Ellesse Regent Nylon Backpack CP44,Womens Shoes Vans Dazie-Hi (Suede/Dots) Original Navy,, 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, Nike Pro Cool Compression,Ropes Classic Flat Laces CP371,Women’s Fleece Hoodie,.

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 Archive Tee,adidas Originals Junior Stan Smith Trainer CP559,Women's adistar Wool Primeknit Tee,, 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”. Training Essentials Woven Shorts,Nike Junior Air Force 1 Low Trainer CP621,Jordan OVO Velour,, 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. Active Training Women’s All Eyes On Me Tights,Havaianas Nursery Brasil Logo Flip Flop CP773,Nike Hypernatural Fleece,.

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About this Special Report

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