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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, Nike Air Max 2012 Mens Black Blue Sneakers 3126975,Classic Adidas Originals Stan Smith - Trainers - Offwhite/White E8a4492Nike Air Max Mens Gray Black Sneakers 3127105,.
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What, then, will be the features of this growing consumer market? A Hot Adidas Performance Solar Rnr - Cushioned Running Shoes - Collegiate Navy/Silver Metallic/Pink C5 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, Nike Kobe Olympic Edition IV White/Black/Red Basketball Shoes 3128244,Counter Genuine Adidas Originals Superstar - Trainers - White/Core Black R4z1186Nike LeBron 11 Gator King Basketball Shoes 3128319,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Zoom KD V Christmas Basketball Shoes 3128427,Exclusive Adidas Originals Superstar - Trainers - White/Core Black K37t3765Nike Zoom KD VI Blue/Neon Green Basketball Shoes 3128504,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Lebron 10 White/Red/Black Basketball Shoes 3128600,Welcomed Converse Chuck Taylor All Star - High-Top Trainers - Navy V54j4906Nike Blazer High II Mens Suede Blue White Skateboarding Shoes 3128670,, argues the report,Nike Dunk High Pro SB Dark Black Mens Sneakers 3128804,Comfortable Adidas Performance Climacool Boat Sleek - Trainers - Night Flash/White/Flash Pink F100v7Nike Dunk SB High Mickey Mouse red white yellow black Mens Sneakers 3128862,.
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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 Aq By Aquila Edmund Men AA16577,Cheap Converse Chuck Taylor All Star Ox Dainty Leather - Trainers - Noir/Blanc F85w5176Brando Serle Black Chelsea Boots Men AS14156,, 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, Converse Chuck Taylor All Star Ox Men QB15625,Discount Converse Chuck Taylor All Star Dainty - Trainers - Black/Dolphin/White F6p2710H By Hudson Houghton 3 Men NP40633,.
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. Lacoste Carnaby Evo Men KK28495,Fascinating New Balance Ml574 - Trainers - Blue/Black B83f3167Nike Air Force 1 '07 Lv8 Men DF74952,, 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”. Skechers Go Walk 3 Men MC63735,Emergency New Balance U410 - Trainers - Burgundy H82o8239Vans Old Skool Zip Men UM61933,, 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. Le Coq Sportif Aceone Cvs OH80167,Adorable New Balance Ml373 - Trainers - Grey L30o5816Mens adidas Runway Core Black Athletic Sports Running Shoes B33067 Sizes 8-12 Black,.