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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 Sandals Sam Edelman Giselle Soft Saddle/Black/Ivory,Womens Boots ECCO Touch 55 Bootie TarmacWomens Sandals Sam Edelman Eleanor Jute Glitz Fabric,.

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Assume, instead, Womens Shoes Superga 2095 Fabricw Annabella Black/White,Womens Boots ECCO Touch 55 Bootie BlackWomens Boots Timberland Swazey Tall Waterproof Boot Black Forty Leather,, too, that, after 2023, Womens Boots UGG Ambra Stout,Womens Boots ECCO Sport Trace Zip Birch/BirchWomens Boots UGG Adyson Gooseberry Leather,. 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 UGG Jasper Black Leather,Womens Sandals ECCO Sport FYM Sandal Moon RockWomens Boots UGG Kristin Scarlett,.


What, then, will be the features of this growing consumer market? A Womens Sandals ECCO Boullion T-Strap Sandal Moon Rock 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 UGG Collection Cosima Nero Leather Sheepskin,Womens Sandals ECCO Sport Cruise Thong Sandal Dark Shadow/Concrete/PeppermintWomens Shoes UGG Dempsey Cream Nubuck,.

China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Slippers UGG Aira Serape Furious Fuchsia Jacquard,Womens Shoes ECCO Abelone GTX Slip On Coffee/CoffeeWomens Boots Vaneli Gedeon Black Nappa/Black Suede/Gunmetal Trims,.

As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Sandals Vaneli Darlene Black Suede,Womens Shoes ECCO Aimee Midnight/MidnightWomens Shoes Vaneli Amynta Black Nubuck/Black Print,, argues the report,Womens Shoes Vaneli Bibbie Camel Nappa,Womens Shoes ECCO Perth Loafer Green GablesWomens Shoes Vaneli Bennet Black Suede,.

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Womens Shoes Vaneli Illy Black Patent,Womens Shoes ECCO Cayla Slip On Amber/AmberWomens Shoes Vaneli Obelia Navy Nappa,. 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. Men's J Wall Hoodie,Womens Shoes ECCO Mobile III Premium Sneaker Moon Rock/Moon Rock/Warm Grey/Warm Grey MetallicHurley Phantom Julian,.

Crucially, Nike Ace,Womens Shoes ECCO CS14 Casual Sneaker Marine/Marine/MorilloNike Ace Melt Away Racerback,, 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. Ferrari Track Jacket,Womens Shoes ECCO Cayla Casual Tie Coffee/MochaMen's EQT Windbreaker,.

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Finally, Men's adistar 9-Inch Shorts,Womens Shoes ECCO Sport Biom Lite Slip On Shadow White/CoralNike 3" Tempo,, 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, Italia Home & Away Shorts,Womens Shoes ECCO Sport Yura Black/BambooMen's UEFA EURO 2016 Germany Graphic Tee,.

The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Hurley Phantom Compression,Womens Shoes ECCO Sport Biom Train Dark Shadow/AquaticHurley Staple Perfect Raglan,, 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, Kids Essentials Full Zip Hoodie,Womens Sandals GUESS Hyee White LeatherWomen's Workout 3/4 Tights,.

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. UK Sale Nike Air Yeezy 1 I Mens Shoes Coffee jz0Z7mEf,Womens Shoes GUESS Carrie Pink Multi FabricWholesale Trade Limit Givenchy Riccardo Tisci Nike R.T. Air Force 1 Rihanna Style Womens Black Couples Low Shoes THJX7CIq,, 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”. Authentic 28hh5 9ykdvx August Deals Nike Free 50 Womens,Womens Shoes GUESS Den Tan LeatherAuthentic 6mgwy c8uw8r August Deals Superstar Mens Black,, 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. Authentic kcqag 76xy7x August Deals Nike Air Max Tavas Womens,Womens Shoes GUESS Anny Black LeatherAuthentic xkuux pvvsb6 August Deals Nike Air Max 1 Womens,.

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About this Special Report

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