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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 Free Run+ 2 Mens Running Shoe Black White 3129130,Nike Air Jordan 3 White-Black/Team Orange Sneakers 3126016Nike Roshe Run Suede Mens Running Shoes Grey Yellow 3129216,.
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Assume, instead, Nike HyperVenom Phantom TF Cleats Pink Yellow Black 3129812,Nike Air Jordan XIII 13 Retro Altitudes (Black/Altitude Green) Sneakers 3125961Nike GS Mercurial Glide III AG Black Green 3129861,, too, that, after 2023, Nike Mercurial Vapor IX CR7 Cristiano Ronaldo Edition Cleats White Gold 3129920,Nike Air Jordan 3 Suede Black Cement/Gold Sneakers 3126034Nike Mercurial Vapor VI Superfly II TRX FG Safari Orange 3130068,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Nike Mercurial Vapor VIII Superfly Fourth TRX FG CR White Blue 3130153,Nike Air Jordan 3 Suede Black-White/Cement Grey Sneakers 3126035Nike Mercurial Vapor X FG Shoes Midnight Blue Coral White 3130238,.
What, then, will be the features of this growing consumer market? A Nike Air Jordan 4 Black Khaki Sneakers 3126071 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 Mercurial Victory II Superfly III AG Purple White 3130294,Nike Air Jordan 4 Trinidad James Black Red Sneakers 3126102Nike Superligera 2 SL2 HG Cleats Fluorescent Green Black 3130374,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Tiempo Legend V Elite AG Leather Shoes White Black Orange 3130470,Nike Air Jordan 4 Leopard Print Blue White Red Sneakers 3126146Antoine + Stanley Willis Olive Men ML27451,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Brando Brando 303204L Lace Up Boots Black Matt Men MK72622,Nike Air Jordan 4 Retro Fire Red with Jade Tag Sneakers 3126129Clarks Originals Desert Boots Men LS25264,, argues the report,Fred Perry Kingston Twill Men FU21237,Nike Air Jordan 4 Fish-Pattern Black/Tour Yellow Sneakers 3126114H-Wood Langham Men DU23742,.
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Crucially, Adidas Originals Los Angeles RO36218,Nike Air Jordan 4 Fish-Pattern Black Red Sneakers 3126113Vans Authentic FH34261,, 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. CHAUSSETTES NOIR FILA OCCASION Port,Nike Air Jordan 5 Retro LS Black/Blue/White Sneakers 31262382016 Fashion New Mens Sneakers Sport Breathable Casual Running Shoes Gray,.
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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 NEW RUNNING TRAINERS MENS WALKING SHOCK ABSORBING SPORTS FASHION SHOES SZ39-48,Nike Air Jordan 6 Black Red Sneakers 3126308Trainers Shape-Ups Fitness Walking Shoes Sports Sneakers thick crust muffin,, 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, Reebok Classic Leather Etched Rip III R12 Sneaker sports shoes sneakers,Nike Air Jordan 6 Black Orange Sneakers 3126321SHOES VANS ,.
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. MENS VANS ERA VULCANISED BLACK CLASSIC RETRO SKATE TRAINERS SHOES SZ SIZE [Q42c3713],Nike Air Jordan 8 Glow-in-the-Dark Black Blue White Sneakers 3126370VANS "OLD SKOOL PRO" SNEAKERS (ROSIN/WHITE) MEN'S GREEN SUEDE SKATING SHOES [H6g6292],, 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 SK8 MID MOC MEN ROUND TOE SUEDE BROWN SNEAKERS [O26d8087],Nike Air Jordan 9 Retro White Black Sneakers 3126395VANS U OLD SKOOL GREY WHITE MENS SUEDE SKATE TRAINERS SHOES [K57h2854],, 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. VANS ALOMAR MEN US 13 TAN SNEAKERS 2660 [X49z5566],Nike Air Jordan 9 Hardcover Box Black Red Sneakers 3126422VANS ATWOOD MEN US 10 ROT SKATESCHUH 4546 [T81u8895],.