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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 89 Mens Green Black Sneakers 3127142,Exclusive Adidas Originals Superstar - Trainers - White/Core Black K37t3765Nike Air Max 91 Mens Black Orange Sneakers 3127236,.
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Assume, instead, Nike Air Max 90 VT Unisex Colorful Pink White Sneakers 3127587,Designer For Sale Converse Chuck Taylor All Star Brea - High-Top Trainers - Navy A55n2175Nike Air Presto 3 Mens GT Sneakers Black Green 3127830,, too, that, after 2023, Nike Air Presto Weave Mens Sneakers Black Purple 3127943,Lovely Converse Chuck Taylor All Star - Trainers - Parchment/White D51f5929Nike Lunar Hyperdunk X 2012 James White/Blue/Red Basketball Shoes 3128084,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike KD VI Elite Series Team Orange-Silver Basketball Shoes 3128161,Classic-fit Converse Chuck Taylor All Star Brea - High-Top Trainers - Silver/White Z18r4964Nike LeBron X EXT Cork QS Blue/Orange Basketball Shoes 3128277,.
What, then, will be the features of this growing consumer market? A High Cut Converse Chuck Taylor All Star - Trainers - Sport Red/White K48v7835 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 LeBron 11 MVP Limited Edition Basketball Shoes 3128325,Classic-fit Adidas Performance Iriya Iii Celebration - Dance Shoes - Black/Running White K7f2078Nike Zoom KD V ID Fluorescent Green/Purple Basketball Shoes 3128437,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Zoom Kobe 7 Basketball Shoes Prelude Pack 3128548,Favorite Converse Chuck Taylor All Star - High-Top Trainers - Midnight Hour/White C87u3588Nike Zoom Kobe 7(VII) Basketball Shoes Duke Black/White/Blue 3128543,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Blazer IV Mens Black White Skateboarding Shoes 3128692,Provide Converse Pro Leather - High-Top Trainers - Elephant Skin F80d6625Nike Dunk High Pro SB Mint Green Mens Sneakers 3128795,, argues the report,Nike Dunk SB High SpongeBob SquarePants yellow white Mens Sneakers 3128873,Lovely Converse Chuck Taylor All Star Ox Dainty Leather - Trainers - White D28d9983Nike Free 4.0 V2 Mens Running Shoe Red Green 3129050,.
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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 Brando 6550 Suede Ankle Boot Men EH33868,Top Fashion New Balance M574 - Trainers - Grey J74x9795Croft Grant Men RD29596,, 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, Fane Footwear Urban Men EO47873,Provide New Balance Ml574 - Trainers - Silver/Mink A64o2235Julius Marlow Inflate Men QK75083,.
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. Nike Cortez Ultra Br Men NM78755,Provide Nike Sportswear Blazer Mid Premium Vintage - High-Top Trainers - Black/White B86g1399Spring Court B2 Canvas Men XH41903,, 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”. Vans Era Men OM35561,Beautifu Nike Sportswear Blazer Mid Premium Vintage - High-Top Trainers - Wolf Grey/Sail/White H11a8New Balance Classics 574 PW46435,, 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. adidas Mens Pro Indoor Leather Trainers Sports Shoes - White & amp; Blue Stripes White,Top Quality Nike Sportswear Air Force 1 '07 - Trainers - White I32a9368New Mens Breathable Casual Running Sports Flat Canvas Sneakers Driving Shoes,.