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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 Calvin Klein Garnett Black Leather,Nike Air Max 90 Premium Trainer CP4574Womens Shoes Calvin Klein Collection Gess Haircalf Heel White,.
Womens Sandals CARLOS by Carlos Santana Mezza Taupe,Nike Paul Rodriguez CTD Trainer CP4616Womens Shoes CARLOS by Carlos Santana Posy Floral,. 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 Boots Clarks Palma Trina Black Leather,Nike Zoom Stefan Janoski Trainer CP4619Womens Sandals Clarks Hayla Samoa White Leather,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Womens Sandals Clarks Amelia Joyce Navy Floral,Nike KD 7 All Star Trainer CP4631Womens Sandals Clarks Brinkley Jazz Pink Camo,, too, that, after 2023, Womens Shoes Clarks Amelia Page White Leather,Nike Roshe Run NM Breeze Trainer CP4663Womens Shoes Clarks Alitay Giana Black/Brown Spot Haircalf,. 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 Clarks Haydn Shipper Tan Leather,Nike Roshe Run Flyknit Trainer CP4635Womens Boots COACH Tristee Black/Black Shiny Rubber,.
What, then, will be the features of this growing consumer market? A Nike Stefan Janoski Canvas Dots Trainer CP4612 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 COACH Caleigh Saddle Soft Vegan Leather,Nike Nike Free Socfly Trainer CP4673Womens Shoes COACH Phoebe Black/Black Semi Matte Calf,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Shoes COACH Lafayette Black/Black,Nike Jordan Son of Low 'Grey Mist' Trainer CP4675Womens Shoes COACH Moonlight Khaki/Chestnut Signature Embossed PVC/Suede,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Boots Cole Haan Roper Grand Boot Black Suede,Nike Lunar Force 1 '14 'Splatter Pack' Trainer CP4740Womens Sandals Cole Haan Jillian Wedge Maple Sugar,, argues the report,Womens Shoes Cole Haan Juliana Pump 45 Blazer Blue Patent,Nike Elite Shinsen Trainer CP4761Womens Shoes Cole Haan Cary CH Argento Metallic,.
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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 New Balance W1400v3 Green/Pink,Ralph Lauren Polo Klinger Sport Suede Trainer CP4952Womens Shoes New Balance WX20v5 Navy/Light Blue,, 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, Womens Shoes Nike In-Season TR 4 Wolf Grey/Pure Platinum/Cool Grey/White,Ransom Field Lite Trainer CP4968Womens Shoes Nike Air Pegasus '83 Midnight Navy/Cinnabar/Black/Mulberry,.
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. Womens Shoes Nike Free 5.0 Print Blue Lagoon/Green Glow/White/Black,Reebok NPC Vintage Trainer CP4983Womens Shoes Nike Air Max Sequent White/Cool Grey/Pure Platinum/Metallic Dark Grey,, 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”. Womens Sandals PATRIZIA Pearl Turquoise,Supra Ellington Trainer CP5039Womens Sandals PATRIZIA Nye Silver,, 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. Unisex Shoes PUMA Suede Mis-Match Little Boy Blue/Peacoat/White,Supra Stacks Vulc II Trainer CP5044Womens Shoes Reebok Speed Rise Steel/Flat Grey/Lush Orchid/Citrus Glow/White,.