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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, Shopping 180331 Nike Dunks High Men Shoes,Womens Boots UGG Classic Mini Serape Seal Twinface,Comfortable 161605 Nike Free 4.0 V2 Men Royal Blue Red White Shoes,.
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What, then, will be the features of this growing consumer market? A Womens Shoes Vaneli Matilda Natural Cork/Platino Met Nappa, 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, Comfortable 238261 Nike Roshe Run Unisex Blue Yellow White Shoes,Womens Shoes Vaneli Pamela Black Nappa/Black Mag Patent/Gold Chain,Shopping 165595 New Balance Classics Wl574 Women Navy Shoes,.
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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 Men's Shoe Nike Air Presto Mid Utility 859524-300,Men's AC Milan Home Replica Player Shorts,Men's Shoe Nike Free Trainer V7 898053-002,, 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, Men's Shoe Nike Zoom Kobe Icon 818583-001,Hurley Dri-FIT Icon Long-Sleeve,Men's Weightlifting Shoe Nike Romaleos 3 852933-700,.
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.
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