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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 3.0 V5 Mens Running Shoe Suede Black White 3129017,Nike Air Jordan 12 Glow-in-the-Dark Sole Grey White Sneakers 3125901Nike Free 5.0+ Mens Running Shoe Black Green Blue 3129091,.
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Assume, instead, Nike CTR360 Maestri III FG Shoes Crimson Black Chrome 3129716,Nike Air Jordan XIII 13 Retro White/University Blue Sneakers 3125948Nike Hypervenom Phantom FG Soccer Cleats Blue Electricity Black 3129782,, too, that, after 2023, Nike GS Green Speed Concept II ACC FG Soccer Cleats White Black 3129868,Nike Air Jordan XIII 13 Retro White-Grey/University Blue Sneakers 3125949Nike Mercurial Vapor IX FG Tropical Cleats Black White Flash Yellow Pink 3129953,. 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 9 Turf Cleats Electri Green Tiffany Blue Black 3130009,Nike Air Jordan XIII White Burgundy Grey Sneakers 3125931Nike Mercurial Superfly III TRX FG Yellow Black Cristiano Ronaldo 3130075,.
What, then, will be the features of this growing consumer market? A Nike Air Jordan XIII Black White Purple Sneakers 3125944 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 Vapor VIII TRX FG AC Milan Navy Black White 3130173,Nike Air Jordan 13 Mens Black Red Sneakers 3125959Nike Mercurial Veloce FG Soccer Cleats White Orange 3130287,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Mercurial Victory X AG Shoes World Cup Black White 3130345,Nike Air Jordan 2 Retro Rip City White Blue Red Sneakers 3126002Nike Tiempo Legend IV FG Shoes Blue White 3130421,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Tiempo Legend V FG Shoes Blackout 3130478,Nike Air Jordan 3 '88 Retro Cement Sneakers 3126005Brando Brando 303204L Lace Up Boots Liquorice Matt Men DI43973,, argues the report,Brando Umberto Low -Top Sneakers Men SO81606,Nike Air Jordan 3 Retro Black-Orange/Royal Blue Sneakers 3126031Dc Shoes Mens Mikey Taylor Shoe Men WE76233,.
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Crucially, Timberland Earthkeepers Original Leather 6" Men IE87530,Nike Air Jordan 4 Retro South Beach Sneakers 3126091Windsor Smith Hobb Men IA10475,, 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. Vans Sk8-Hi Reissue IE93305,Nike Air Jordan 4 Retro White/Green Sneakers 3126070ASICS GT 2000 Mens 3 pronation support Road Running Sports Trainers Shoes Orange Orange,.
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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 2016 Fashion Mens Casual High Top Sneakers Athletic Running Shoes FF,Nike Air Jordan 4 Fish-Pattern Black Red Sneakers 3126113Plus Size Fashion England Mens Breathable Shoes Recreational Sports Casual shoes,, 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, New 2016 Fashion Woman Mens Breathable Casual Shoes Sport Shoes Canvas Lovers Black / Whi,Nike Air Jordan 5 Fluff Cool Grey/Black-White Sneakers 3126203Mens Shoes Rebook Royal Hiker Hi Top Trainer Casual Sports Shoes Footwear Size11 Black Wh,.
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. CUSTOM VANS LAKERS CELTICS NBA AUTHENTIC SKATEBOARD PAINTED SHOES 9 [I68a8405],Nike Air Jordan 5 Retro Fire Red Black Tongue Sneakers 3126245DC SHOES MEN'S TONIK TRAINERS BLACK BATTLESHIP EMERALD BSE SKATE BMX MX VANS [T66e1241],, 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”. SUPREME PCL NEW ORDER VANS ERA PRO POWER CORRUPTION 9 NEW IN BOX LOGO SS13 RARE [O78o4319],Nike Air Jordan 6 Galaxy Glow-in-the-Dark Sole Sneakers 3126302VANS PROP HIGH RISE SKATE SHOES MARSHMALLOW XEOFS7 [R71c1438],, 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 TNT 5 FIVE - MENS SKATE SHOES (NEW) COFFEE TONY TRUJILLO DURACAP ULTRACUSH [G31b7142],Nike Air Jordan 5 Elephant Print Sneakers 3126244VANS ZAPATO DEL BARCO VN OXC3NWD NAVY WHITE CANVAS SNEAKERS BOAT SHOES MEN [O17u7257],.