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Womens Shoes Naturalizer Ivy Black Leather/Shiny,Womens Sandals Clarks Helio Jet NudeWomens Shoes Naturalizer Dresden Black Leather/Mesh,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
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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 New Balance WXC700v3 Blue/Pink,Womens Sandals Clarks Reid Delmar Light Tan NubuckWomens Shoes New Balance W490V3 Pink Zing,.
Womens Shoes New Balance Golf NBGW1004 White,Womens Sandals Clarks Leisa Apple BlackWomens Shoes Nike Air Max Muse White/Metallic Platinum,. 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 Nike Air Pegasus '83 Midnight Navy/Cinnabar/Black/Mulberry,Womens Sandals Clarks Breeze Mila PewterWomens Shoes Nike Lunarglide 7 Hyper Orange/University Red/Raspberry Red/Black,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Womens Shoes Nike Flex Flury Black/Fuchsia Glow/Vivid Purple/Hyper Orange,Womens Sandals Clarks Tresca Track SageWomens Shoes Nike Zoom Winflo 2 Black/Fierce Purple/White/Bright Crimson,, too, that, after 2023, Womens Boots PATRIZIA Reinforced Dark Brown,Womens Sandals Clarks Tresca Track WhiteWomens Sandals PATRIZIA Patna White,. 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 PATRIZIA Grandview Black,Womens Sandals Clarks Helio Lilly TanWomens Shoes PUMA TFX Distance v5 White/Ultramarine/Fluro Peach,.
What, then, will be the features of this growing consumer market? A Womens Sandals Clarks Hayla Pier Pewter 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 Shoes PUMA The Suede Classic Lo Winterized Black/Bronze,Womens Sandals Clarks Helio Float 4 Black SuedeWomens Shoes Reebok Twistform Blaze MT Night Beacon/Electric Blue/White/Exotic Teal,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Boots Rocket Dog Jolita Burgundy Rattle,Womens Shoes Clarks Aubria Myth Black NubuckWomens Sandals Rocket Dog Aviara Black Cedros,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Rocket Dog Jenelle Black Love Story,Womens Shoes Clarks Delsie Joy Black SuedeWomens Boots Sam Edelman Paige Honey Wayne Nubuck Leather,, argues the report,Womens Sandals Sam Edelman Eleanor Brown/Bronze,Womens Shoes Clarks Tempt Appeal NudeWomens Shoes Sam Edelman Dea Golden Caramel Patent,.
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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 Womens Shoes Vaneli Remy Black Nubia Print,Womens Shoes Clarks Daelyn Summit Grenadine NubuckWomens Shoes Vaneli Drusilla Black E-Print,, 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, Unisex Shoes Vans SK8-Hi MTE (MTE) Khaki/Woven Chevron,Womens Shoes Clarks Leara Blend NavyKyrie Hyper Elite Shooter,.
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. Evolution Top,Womens Boots COACH Warren Black/Black/Suede/ShearlingNike Modern Fit Print,, 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”. Nike Aeroloft Tech,Womens Boots COACH Coleen Fatigue SuedeMen's DGK Hoodie,, 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. Women's Running Crop Hoodie,Womens Boots COACH Adella Black CalfMen's Supernova Climachill Tee,.