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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 Nike Golf Lunar Control White/Bright Citrus/Pink Pow,Womens Sandals COACH Viola Saddle Soft Vegan LeatherWomens Sandals PATRIZIA Pearl White,.
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Assume, instead, Womens Shoes Reebok Train Motion RS L Black/Pink/White,Womens Shoes COACH Phoebe Black/Black Semi Matte CalfWomens Shoes Reebok DMX Lite Alloy/Seafoam/Green/Coal/White,, too, that, after 2023, Womens Boots Rocket Dog Temecula Tan Galaxy,Womens Shoes COACH Flippa Port PatentWomens Shoes Rocket Dog Tempo Melon Quake,. 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 Rocket Dog Jena Navy Kyoto,Womens Sandals COACH May FogWomens Boots Sam Edelman Remi Black Suede,.
What, then, will be the features of this growing consumer market? A Womens Shoes COACH Kimmie Natural Wild Beast 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 Sandals Sam Edelman Bonnie Papaya Punch Velour Suede,Womens Shoes COACH Arlene ChalkWomens Shoes Sam Edelman Dora Winter Sky,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes Sam Edelman Nadine Bronze Shimmer Leopard Fabric,Womens Shoes COACH Lafayette Fatigue/FatigueWomens Shoes Saucony Carrera XC W Teal/Pink/Citron,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Superga 2311 Leahorsew Bordeaux,Womens Shoes COACH Flash Nude SuedeWomens Shoes Superga 2210 LINW Burnt Sienna,, argues the report,Womens Boots UGG Classic Tall Navy,Womens Shoes COACH Corey Midnight Navy Calf SuedeWomens Boots UGG Bailey Bow Tall Grey,.
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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 Nike Ace Pique,Womens Sandals Cole Haan Air Tamsyn Sandal Black/Black Multi WebJordan Varsity Full-Zip,, 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, Long Sleeve,Womens Sandals Cole Haan Nassau Wedge Black/Gunsmoke/IvoryWomen's Jardineto Firebird Track Top,.
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. Hurley Dri-FIT Lagos,Womens Sandals Cole Haan Cameron Sandal BlackNike 3" Zen Rival,, 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”. Italia Home & Away Shorts,Womens Sandals Cole Haan Taylor Wedge SandstoneYouth FC Bayern Home Replica Player Shorts,, 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. Evolution Bold Logo Sweater,Womens Shoes Cole Haan Tali Lace Wedge Black/Black PatentNike Signal Muscle,.