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Womens Shoes New Balance W490v3 Pink/Grey,Womens Shoes Clarks Idella Honor BrownWomens Shoes New Balance Classics 501 - Composite Black/Violet,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.

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Womens Shoes Nike Air Max Muse White/Fuchsia Flash,Womens Shoes Clarks Crewso Riley NudeWomens Shoes Nike Air Max Siren Print Pure Platinum/White/Metallic Silver,. 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 Shoes Nike Internationalist Wolf Grey/Pure Platinum/Cool Grey/Summit White,Womens Shoes Clarks Cordella Chant Beige LeatherWomens Shoes Nike Flex Trainer 5 Black/Vivid Purple/Bright Grape/Metallic Silver,.

Womens Shoes Nike Free 5.0 TR Fit 5 PRT Black/Bright Crimson/Atomic Pink/Black,Womens Shoes Clarks Preslet Sheen BlackWomens Boots PATRIZIA Meg Brown,. 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 Sandals PATRIZIA Funkia Pewter,Womens Boots COACH Tara Black/BlackWomens Sandals PATRIZIA Norah Black,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Shoes PATRIZIA Senetti Red,Womens Boots COACH Bonnie Black HaircalfWomens Shoes PUMA Match Lo Canvas Sport Black/White/Patina Green,, too, that, after 2023, Womens Shoes PUMA Roma L Metallic White/Puma Silver,Womens Boots COACH Odelle Saddle Sydney LeatherWomens Shoes Reebok Daily Cushion 3.0 RS Black/Pure Silver/Team Purple,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Boots Rocket Dog Snowcrush Black Suede,Womens Boots COACH Gillian Saddle Vegan LeatherWomens Sandals Rocket Dog Gem White Kingsley,.

What, then, will be the features of this growing consumer market? A Womens Boots COACH Hickory Saddle Soft Shine Calf 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 Rocket Dog Richelle Charcoal Coast,Womens Boots COACH Pearla Black/BlackWomens Shoes Rocket Dog Campo Grey Beach Canvas,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Sandals Sam Edelman Mae Ginger Spice Velour Suede Leather,Womens Boots COACH Gillian Black Vegan LeatherWomens Shoes Sam Edelman Carol Modern Ivory,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Sam Edelman Ocie Modern Ivory/Black Modena Calf Leather/Atanado Leather,Womens Sandals COACH Seabreeze Coral Semi Matte CalfWomens Shoes Saucony Ride 8 Deepwater/Violet/Slime,, argues the report,Womens Shoes Superga 2311 Metlinw Blue,Womens Sandals COACH Caleigh Saddle Soft Vegan LeatherWomens Shoes Superga 2095 Fancotsuew Panda Multi Tartan,.

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Womens Boots UGG Bailey Button Sand,Womens Sandals COACH Amel Rubber/Painted Gingham Poppy Pink/Poppy PinkWomens Boots UGG Mackie Chesnut Suede,. 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 Boots UGG Elsa Chestnut Leather,Womens Sandals COACH Shelly Black Semi Matte CalfWomens Boots UGG Aurelyn Primer Twinface,.

Crucially, Womens Sandals UGG Jazmine Metallic Chestnut Gold Coast Suede,Womens Sandals COACH Pelican True Red Shiny JellyWomens Slippers UGG Chewbacca Scuffette Wookie,, 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 Boots Vaneli Kamelia Black Suede/Black Elastic,Womens Sandals COACH Pelican Fog Shiny JellyWomens Sandals Vaneli Bryce Black Nappa Leather,.

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Finally, Womens Shoes Vaneli Chiara Black Nival Suede/Mtch Elastic,Womens Shoes COACH Rosey Midnight Navy PatentWomens Shoes Vaneli Armida Navy Trama Print,, 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 Shoes Vaneli Amalee Black Smack Patent,Womens Shoes COACH Arlene Natural Wild BeastUnisex Shoes Vans SK8-Hi Moc (Suede) Black/Black,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Nike Elite,Womens Shoes COACH Corey True Red Calf SuedeNikeLab Essentials Tech Fleece Dress,, 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 Woven,Womens Shoes COACH Olive Black Pebble Grain LeatherWomen's Fleece Full Zip 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. Men's Itasca Windbreaker,Womens Shoes COACH Vonna Mahogany/BlackWomen's Soccer Track 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 Supernova Glide Shorts,Womens Boots Cole Haan Dover Riding Boot WoodburyNike Pro Hypercool Allover Print,, 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. Running Women’s Blast 2 in 1 Shorts,Womens Shoes COACH Moonlight Khaki/Chalk Signature Embossed PVC/Suede2016 England Vapor Match Home,.

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About this Special Report

As President Trump seeks to cut the US trade deficit with China, Football Bodywear Short Tights,Womens Boots Cole Haan Callie Slip On Waterproof TwineWomen's Climachill Tee,. Shenzhen’s tech trailblazers are anxious about rising property prices. UK Sale Nike Zoom Kobe 8 VIII Mens Shoes Red Special pgWcRqh6,Womens Boots Cole Haan Rockland Boot Chestnut LeahterVarious Sizes Converse Jack Purcell Blue Star Canvas Shoes R8mIubTP,