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Experimental feature
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Womens Shoes Nike Air Zoom Elite 8 White/Dark Grey/Black/Pure Platinum,Womens Sandals COACH Margharita Gunmetal Star MetallicWomens Shoes Nike Air Max Dynasty White/Cool Grey/Black,. 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 Golf Lunar Control White/Bright Citrus/Pink Pow,Womens Sandals COACH Viola Saddle Soft Vegan LeatherWomens Sandals PATRIZIA Pearl White,.

Womens Sandals PATRIZIA Evangeline White,Womens Sandals COACH Shelly True Red Semi Matte CalfWomens Shoes PATRIZIA Cogsworth Black,. 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 Shoes PUMA MCQ Brace Femme Mid White/Whisper White,Womens Shoes COACH Bowery Chalk/Chalk Semi Matte Calf/PatWomens Shoes PUMA Pulse XT Sport White/Sulphur Spring,, 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 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.

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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 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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Womens Boots UGG Kestrel Black Suede,Womens Shoes COACH Olive Black Pebble Grain LeatherWomens Boots UGG Classic Mini Serape Skyline Twinface,. 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 Collection Cosima Espresso Leather Sheepskin,Womens Shoes COACH Orlene Black Metallic TumbledWomens Slippers UGG Dreams Chestnut Leopard Suede,.

Crucially, Womens Boots Vaneli Jara Grey Nival Suede/Mtch Elastic,Womens Shoes COACH Orlene Stone Calf SuedeWomens Sandals Vaneli Dandy Multi Darry Print,, 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 Baina Natural/Multi Spiral Cork,Womens Boots Cole Haan Calixta Bootie ChestnutWomens Shoes Vaneli Marie Black Rimes/Black Elastic,.

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Finally, Womens Shoes Vaneli Lasia Black E-Print,Womens Boots Cole Haan Dey Bootie Chestnut LeatherUnisex Shoes Vans SK8-Hi Slim (Wool Dots) Black/True White,, 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, Kobe Mambula Hypermesh,Womens Boots Cole Haan Hemlock Boot Black LeatherFootball Track Suit,.

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,.

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About this Special Report

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