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Womens Shoes New Balance Classics CW620 Grey/Green Suede/Mesh,Womens Boots COACH Lester Black Shiny RubberWomens Shoes Nike Genicco Black/Dark Magenta/Grey/Hyper Punch,, 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 Thea Black/Anthracite/Wolf Grey/Dark Grey,Womens Boots COACH Dalla Chestnut Split SuedeWomens Shoes Nike Free 5.0 Tr Fit 5 Breathe Wolf Grey/Volt/White/Cyber,. 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 Flex Flury Vivid Purple/Copa/Blue Lagoon/Black,Womens Boots COACH Mirriam Feathered Grey CalfWomens Shoes Nike Revolution 3 Chalk Blue/Concord/White,.

Womens Shoes Nike Air Max Siren Pure Platinum/Vivid Purple/Ghost Green,Womens Boots COACH Bonnie Black Cherry HaircalfWomens Sandals PATRIZIA Lansing White,. 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 Nino Silver,Womens Boots COACH Sage Chalk RubberWomens Sandals PATRIZIA Yara 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 PUMA Cell Riaze Wn's Black/Fluo Peach/Fluo Yellow,Womens Boots COACH Mable Cinnamon LeatherWomens Shoes PUMA Pulse XT Geo Italian Plum/Lipstick Red,, too, that, after 2023, Womens Shoes Reebok Quickchase Run Flat Grey/Lush Orchid/Citrus Glow/Black,Womens Boots COACH Regina Chestnut LeatherWomens Shoes Reebok Hexaffect Fire VTR MTM Night Beacon/Icono Pink/Exotic Teal/White,. 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 Milford Black Hush,Womens Boots COACH Hickory Black Soft Shine CalfWomens Shoes Rocket Dog Trinidad Khaki Alamo,.

What, then, will be the features of this growing consumer market? A Womens Sandals COACH Marla Warm Blush 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 Boots Sam Edelman Alyssa Black Leather,Womens Sandals COACH Marla ChalkWomens Sandals Sam Edelman Galia Black 1,.

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 Marley Black Vaquero Saddle Leather,Womens Sandals COACH Concord Ginger Veg Leather/Loganberry PatentWomens Shoes Sam Edelman Dea Black Crepe,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Saucony Fastwitch 6 Slime/Black/Coral,Womens Sandals COACH Cindy 2 Band Sandal Gunmetal/BlackWomens Shoes Sam Edelman Felicia Sangria Silk Velvet,, argues the report,Womens Shoes Superga 2750 Carvaggio Cordovan,Womens Sandals COACH Eileen Saddle/Black CalfWomens Boots Timberland Icon 6" Premium Boot Port Rugged/Metallic Finish,.

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Womens Shoes Timberland Earthkeepers Ellsworth Ballerina Tan Full Grain,Womens Sandals COACH Vitalia Cinnamon Semi Matte CalfWomens Boots UGG Myrna Chestnut Leather,. 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 Rosana Black Suede,Womens Sandals COACH Shelly Gold Metallic TumbledWomens Boots UGG Darth Vader Classic Short Crystal Black,.

Crucially, Womens Sandals UGG Lyndi Navy Leather,Womens Sandals COACH Shelly Khaki/Chestnut Signature PVC/Matte CalfWomens Boots Vaneli Carly Nut Dream Calf/Mtch Zip/Ant Gold Buckle,, 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 Sandals Vaneli Tonie Black,Womens Shoes COACH Kimmie Natural Wild BeastWomens Sandals Vaneli Borea White Patent,.

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Finally, Womens Shoes Vaneli Elana Cuoio Bulgaro/Match Elastic,Womens Shoes COACH Garland Black Soft Milled LeatherWomens Shoes Vaneli Calida Truffle Suede/Matching Dialux 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 Gadget Dark Grey Flannel,Womens Shoes COACH Brady Black Semi Matte CalfMen's Cleveland Cavaliers Blazers Ultimate Long Sleeve Hoodie,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Hurley Phantom Solid Beachrider,Womens Shoes COACH Arlene Black Calf SuedeNike Sweater Tech,, 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, Archive Football Hoodie,Womens Shoes COACH Olive PlumRunning Night Cat Illuminate Women's Jacket,.

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 White Mountaineering Long Coat,Womens Boots Cole Haan Balthasar Bootie BlackJordan AJ Knit City,, 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”. Nike Impossibly Light,Womens Boots Cole Haan Balthasar Chukka BlackNike Gym Reversible,, 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. Kids X Logo Tee,Womens Boots Cole Haan Garner Tall Boot Extended Calf ChestnutNike Pro Rival Heather,.

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About this Special Report

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