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Womens Shoes PATRIZIA Coro Orange,Womens Sandals Cole Haan Goddard Sandal SequoiaWomens Shoes PUMA Suede Classic + Blur Periscope/Glacier Gray,. 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 PUMA Roma L Metallic White/Puma Silver,Womens Sandals Cole Haan Elsie Thong Sandal 40 II ZinfandelWomens Shoes Reebok Hexaffect Run 3.0 MTM Black/Steel/Pink,.

Womens Boots Rocket Dog Snowcrush Charcoal Suede,Womens Shoes Cole Haan Chelsea OT HI Sling Sandstone SuedeWomens Boots Rocket Dog Weekender Brown Galaxy/Glazed,. 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 Rocket Dog Jazzin Blue Bryce,Womens Sandals Cole Haan Arlette Sandal II Black/AcornWomens Boots Sam Edelman Patton Wide Calf Whiskey,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).

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Assume, instead, Womens Sandals Sam Edelman Sabrina Black,Womens Sandals Cole Haan Ayla Wedge II True RedWomens Sandals Sam Edelman Rosa Bright White/Classic Nude Multi Beads,, too, that, after 2023, Womens Shoes Sam Edelman Allison Jute/Buff Nude,Womens Sandals Cole Haan Arlette Wedge II Black Leather/Chestnut Leather/JuteWomens Shoes Sam Edelman Lacey Black,. 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 Saucony Triumph ISO Black/Pink,Womens Shoes Cole Haan Magnolia Skimmer Paloma Baby HaircalfWomens Shoes Superga 2311 Fabricsilkcoccow Plum,.

What, then, will be the features of this growing consumer market? A Womens Shoes Cole Haan Bradshaw Pump 65 Black 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 Superga 2095 Plus Total Black,Womens Shoes Cole Haan Bradshaw Pump 65 Black/White Snake PrintWomens Shoes Timberland Brattleboro 6" Bone,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Boots UGG Charlotte Black Suede,Womens Shoes Cole Haan Highline Pump Black Suede/BlackWomens Boots UGG Cassis Lodge Leather,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots UGG Jackee Black/Twinface,Womens Shoes Cole Haan Amalia Skimmer Black Suede/BlackWomens Boots UGG Abree Short Bruno,, argues the report,Womens Shoes UGG Haylie Chestnut Leather,Womens Shoes Cole Haan Bethany Open Toe Pump Black PatentWomens Slippers UGG Symona Serape Cream Jacquard,.

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Womens Boots Vaneli Artemis Black Suede/Brown Coryl,Womens Shoes Cole Haan Bethany Open Toe Sling Maple SugarWomens Boots Vaneli Vesper Black Nappa/Black Ernin Stretch/Gunmetl Trim,. 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 Shoes Vaneli Charlisa T.Moro Suede/Mtch Elastic,Womens Shoes Cole Haan Cyro Sandal Black/Optic White Snake PrintWomens Shoes Vaneli Ilium Black Asiago Suede,.

Crucially, Womens Shoes Vaneli Pamela Black Nappa/Black Mag Patent/Gold Chain,Womens Shoes Cole Haan Lexington Pump 85 Black/Nubuck/Lizard PrintWomens Shoes Vaneli Faunal Black Velvet/Black Patent,, 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. Women's Running Blossom Shorts,Womens Shoes Cole Haan Juliana Low Sling 45 PalomaNike Baseline Stock,.

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Finally, TW Mobility Camo Emboss,Womens Shoes Cole Haan Zerogrand Classic Sneaker Black Reflective/BlackWomen’s Fleece Hoodie,, 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, Nike Dri-FIT Sport Essentials Printed Skinny Fit,Womens Shoes Cole Haan Pinch Weekender Sandshell CanvasWomen's Bananas Bra Top,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Golf D_VENT Polo,Womens Shoes Cole Haan Zerogrand Wing Oxford Marble/Ivory SpecchioNike Tempo Rival,, 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, Beach Shorts,Unisex Shoes Converse Converse Boot Mid PineconeMen's Piquet Polo,.

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. TW VL Mesh Framing,Unisex Shoes Converse by John Varvatos Chuck Taylor All Star Artisan Stitch Hi Artisan Stitch Dril/BNike "Tradition Defined" (Connecticut),, 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”. England Authentic N98,Unisex Shoes Converse by John Varvatos Chuck Taylor All Star Double Heel Zip Quito Leather Dark NavyYouth Lineage Track Suit,, 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. UK Sale Nike Zoom Kobe VI(6) For Men in ACQHOJO3,Womens Boots ECCO Solbjerg Tall Boot Black/BlackWholesale Trade 2017/18 Nike Free Flyknit 5.0 Mens Running Shoes Gray Black jpgFgQk7,.

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About this Special Report

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