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Nike Ace Logo 576605-011 Black/Black/Black,Nike Roshe One Hyperfuse Casual Shoes Men BlueNike AF-1 Photo 645159-063 Dark Grey Heather/Total Orange/Black,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Nike Baseball Laces 725649-063 Dark Grey Heather,Nike Roshe One Hyperfuse Br Casual Shoes Men Blue/Blue/WhiteNike Bell Lap 453186-107 Team White/Team Navy/Team Navy,. Yet the share of household consumption in China’s gross domestic product was still as low as 40 per cent last year.
Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Nike Club Rewind (NFL Colts) 609156-431 Gym Blue,Nike Roshe One Nm Flyknit Casual Shoes Men Black/White/Grey/Dark GreyNike College Fly (Washington State) 00030416X-WC1 University Red,.
Nike Diamond Quest Legend (Oklahoma) 00033245X-OK1 Team Crimson,Nike Roshe One Nm Flyknit Se Casual Shoes Men BlackNike Dri-FIT 1/2-Zip 639886-010 Black/Black/Black/Wolf Grey,. 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). Nike Dri-FIT Speed Fly XL (MLB Cardinals) 00030459X-CR1 Red,Nike Tennis Classic Casual Shoes Men White/BlueNike Dri-FIT Touch Long-Sleeve 644371-016 Black Pine/Black/Heather/Cool Grey,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Element Shield 555026-010 Black,Polo Ralph Lauren Faxon Low Casual Shoes Men Light GreenNike Elite Wing 645079-361 Light Green Spark/Black/White/White,, too, that, after 2023, Nike FB Woodland 641161-063 Dark Grey Heather/Dark Grey Heather,Polo Ralph Lauren Faxon Low Casual Shoes Men NavyNike Fly XL 2.0 (Arkansas) 00029517X-AK1 Varsity Crimson,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Futura Print 611975-600 Challenge Red/Dark Grey Heather/Venom Green,Nike Sb Portmore Renew Casual Shoes Men Grey/Black/WhiteNike Hyper Elite Title 618323-406 Photo Blue/Obsidian/Bleached Turquoise/Bleached Turquoise,.
What, then, will be the features of this growing consumer market? A Puma Basket Case Citi Series Casual Shoes Men Black/White 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 Intentional Open-Hem Fleece 598867-063 Dark Grey Heather/White,Puma Basket Case Citi Series Casual Shoes Men Maroon/Black/WhiteNike KO Chain Fleece Pullover (NFL Eagles) 597412-010 Black/White,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Lacrosse Dri-FIT Touch Pullover 647509-100 White/Light Ash Grey,Polo Ralph Lauren Vaughn Saddle Casual Shoes Men Red/BrownNike Legend Icon (NFL Panthers) 605886-010 Black/Carbon Heather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Miler 519700-100 White/White,Puma R698 Suede Casual Shoes Men BlackNike Modern Tech 509737-010 Black/Night Stadium/Night Stadium,, argues the report,Nike Platinum Fly Rush 2.0 Half-Zip (NFL Titans) 597648-060 Anthracite/Metallic Silver,Puma Carson Runner Quilt Casual Shoes Men Black/WhiteNike Premier Rafa Icon 628543-010 Black/Black,.
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Crucially, Nike Air Command Force Billy Hoyle White Black Grey Volt (684715-100),Puma Suede Emboss Iced Classic Casual Shoes Men Royal BlueNike Air Force 1 07 Oxen Brown Gum,, 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. Nike Air Force 1 Low Black Glossy Croc Olive Crimson,Reebok Npc Ll Casual Shoes Men WhiteNike Air Indee Black Tiger Camo Gold (318488-009),.
Finally, Nike Air Jordan Future Black White,Nike Air Jordan Horizon Off Court Shoes Men Blue/WhiteNike Air Max 1 Mid FB Flat Pewter Black Midnight Fog,, 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, Nike Air Max 90 Essential Black Wolf Grey Atomic Red,Nike Air Jordan Executive Off Court Shoes Men White/GreyNike Air Max 90 PRM Canvas White Black Light Bone,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Nike Air Max LeBron 7 VII Low Rummor Pack New York Knicks (NYK),Nike Air Jordan Spizike Off Court Shoes Men Black/Grey/WhiteNike Air Max Zero 0 QS White Navy Hyper Jade,, 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, Nike Air Trainer Huarache PRM Light Bone Navy,Adidas Springblade Ignite Running Shoes Men Grey/Black/BlueNike Court Official Black Grey Blue (414935-005),.
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 Dunk High Supreme French Football Federation Pack Black Pinstripe,Brooks Launch 2 Running Shoes Men BlackNike Flyknit Rosherun Roshe Run NM Hot Lava Volt,, 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 Free Flyknit 4.0 Game Royal Hyper Crimson Black,Nike Air Max 1 Ultra Essential Running Shoes Men White/Platinum/BlueNike Hyperdunk 2014 EP Volt 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. Nike Jordan Fly Wade 2 EV Stealth Cool Grey,Nike Air Max 2016 Running Shoes Men White/Black/WhiteNike KD 7 VII BHM EP Black History Month,.