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Nike Advantage Graphic 633178-427 Rift Blue/Space Blue/Cool Grey,Nike Roshe One Winter Casual Shoes Men Obsidian/WhiteNike Air Python 695731-072 Light Bone/Dust/Dust,, 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, Nike College Fly (Arizona) 00030416X-AZ1 Navy/Red,Polo Ralph Lauren Hanford Skate Vulc Casual Shoes Men Grey/Light BlueNike Command Force 659144-060 Anthracite/Anthracite/Black,.
Nike Disruption Performance (Florida) 00030933X-FG5 Greyish,Nike Tennis Classic Cs Casual Shoes Men Grey/WhiteNike Dri-FIT CJ Logo 637869-063 Dark Grey Heather/Dark Grey Heather,. 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 Sprint Full-Zip 596241-427 Rift Blue/Space Blue,Polo Ralph Lauren Hugh Casual Shoes Men RedNike Dri-FIT Touch Long-Sleeve 644371-413 Light Blue Lacquer/Blue Force/Heather/Bright Crimson,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Nike Element Shield Full-Zip 654273-010 Black/Black,Nike Sb Zoom Stefan Janoski Canvas Casual Shoes Men Maroon/WhiteNike F.C. Au Revoir 726483-100 White,, too, that, after 2023, Nike Fly Warp (NFL Chiefs) 614257-657 University Red/University Gold,Polo Ralph Lauren Morray Casual Shoes Men KhakiNike Football Limited (USC) 00028552X-15H RED,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike GPX Strike Premium Longer Woven 2 645275-496 Blue Force/White/White,Polo Ralph Lauren Vaughn Canvas Casual Shoes Men Grey/White/BrownNike Hyperspeed Fleece Full-Zip 669977-065 Cool Grey/Anthracite/Black/Black,.
What, then, will be the features of this growing consumer market? A Polo Ralph Lauren Vaughn Casual Shoes Men Blue/Navy 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 Key Bold Heather Stripe 585824-037 Medium Base Grey/Medium Base Grey/Metallic Silver,Polo Ralph Lauren Vaughn Saddle Casual Shoes Men NavyNike KO Chainmaille Pullover 597790-075 Magnet Grey/Black/Black,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Legend Icon (NFL Rams) 605910-419 College Navy/Carbon Heather,Puma Carson Runner Engineered Mesh Casual Shoes Men Black/Yellow/WhiteNike Legend Just Do It (NFL Chargers) 634997-419 College Navy/Carbon Heather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike March (Miami) 00030938X-MM5 Orange,Puma Carson Fade Print Casual Shoes Men Orange/RedNike Platinum Fly Rush 2.0 Half-Zip (NFL Eagles) 597641-060 Anthracite/Metallic Silver,, argues the report,Nike Practice (Duke) 00030314X-DK1 Royal,Puma Carson Runner Knit Casual Shoes Men Navy Blue/WhiteNike Premier Gladiator 10" 619009-427 Rift Blue/Medium Mint/Medium Mint,.
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Crucially, Nike Air Flight 89 White Dark Obsidian Brigade Blue (306252-116),Nike Air Flight Falcon Off Court Shoes Men Black/WhiteNike Air Force 1 Low 07 LE Anthracite Black White,, 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 Downtown Spike All White,Nike Air Jordan Eclipse Off Court Shoes Men Black/Blue/Pink/OrangeNike Air Huarache Utility Black,.
Finally, Nike Air Jordan Spizike New York Knicks Pack Orange Flash Black,Nike Air Jordan New School Off Court Shoes Men Grey/White/GreyNike Air Max 1 FB Premium QS Mercurial Pack Vibrant Yellow Neo Lime,, 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 Dusty Grey White Anthracite,Nike Jordan Flight Origin 2 Off Court Shoes Men Black/White/BlueNike Air Max 95 PRM Tape Glow In the Dark White Grey Lab Green,.
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 Motion Terra Red Volt,Nike Jordan Flight Tradition Off Court Shoes Men White/GreyNike Air Prestige 3 III SL Low White Black Brown (385719-110),, 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 Yeezy 2 NRG Wolf Grey Pure Platinum (508214-010),Adidas Springblade Ignite Running Shoes Men Royal/Black/Light GreyNike Court Tour Leather Black White (458673-016),.
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 Low PRM SP Rainbow Viotech,Nike Air Huarache Run Ultra Running Shoes Men Royal Blue/Black/Cream GreenNike Flyknit Rosherun Roshe Run Black White Drak 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”. Nike Free Flyknit NSW Oreo Black White,Nike Air Max 2016 Running Shoes Men Dark Grey/White/Red/GreyNike Hyperfr3sh QS Aloha Summer Laser Orange (808781-800),, 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 Eclipse Ink Black Bright Mandarin,Nike Air Max 90 Ultra Essential Running Shoes Men Black/WhiteNike KD 6 VI Elite Hero Collection Green Pink,.