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Men's - Girls Air Jordan 1 Preschool Soft Pearl / Rg-Vnc-Pnk Ilsn Shoes,Men's - Nike Air Penny V Total Crimson / Black ShoesMen's - DC Life Collection ADM Sport Spice Shoes,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Men's - Creative Recreation Profaci Black / Denim Shoes,Men's - Nike Air Penny V Camo Black Spruce / Black-Volt ShoesMen's - Creative Recreation Kaplan Black Ripstop Shoes,. 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, Men's - Creative Recreation Cicero Forest Chocolate / Military Shoes,Men's - Nike Air Pegasus+ 28 White / Black-Blue Spark ShoesMen's - Creative Recreation Cesario Premium White Patent Croc Shoes,.
Men's - Creative Recreation Cesario Lo Smoke Grey Shoes,Men's - Nike Air Pegasus '92 Summit White / Bold Berry-Orange Plum ShoesMen's - Creative Recreation Cesario Black / White / Red Stripes Shoes,. 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). Men's - Converse Chuckit Slip Olive Shoes,Men's - Nike Air Pegasus 83 Suede Mrcry Grey / Mrcry Grey-Black ShoesMen's - Converse Chuck Taylor Sailor Jerry Hi Black Shoes,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Men's - Converse Chuck Taylor Duck Boot Ox Chocolate Shoes,Men's - Nike Air Monarch IV 4E White / Black-Varsity Red ShoesMen's - Converse Chuck Taylor All Star Low Lemonade Shoes,, too, that, after 2023, Men's - Converse All Star Moccasin Mid Black Shoes,Men's - Nike Air Max+ 2012 Wolf Grey / White-Black ShoesMen's - Ateliers Arthur Prime Eclipse Shoes,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Men's - Asics Onitsuka Tiger Fencing Mid Blue / White Shoes,Men's - Nike Air Max+ 2011 Pure Platinum / Anthracite-Yellow-White ShoesMen's - Asics GEL-Kayano Trainer White / Fairy Red Shoes,.
What, then, will be the features of this growing consumer market? A Men's - Nike Air Max+ 2010 Black / Black-Electric Green-White Shoes 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, Men's - AJF 3 LS Black / Scenery Green Shoes,Men's - Nike Air Max Wavy White / Black-Metallic Silver ShoesMen's - Air Jordan XIII 13 Retro Preschool Cool Grey / Fusion Pink-White Shoes,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Men's - Air Jordan V.5 Grown Low White / White-Wolf Grey Shoes,Men's - Nike Air Max Uptempo 97 Black / Metallic Silver-Varsity Red ShoesMen's - Air Jordan True Flight White / Venom Green-Black-White Shoes,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Men's - Air Jordan Spiz'ike Preschool White / Cement-Grey-Black Shoes,Men's - Nike Air Max Terra Sertig White / University Red-Canyon Gold-Black ShoesMen's - Air Jordan Shine Pure Platinum / Pure Platinum-Vachetta Tan-White Shoes,, argues the report,Men's - Air Jordan Retro V LS Army Olive / Solar Orange - Black Shoes,Men's - Nike Air Max Tailwind+ 2010 SS Black / Black-White-Metallic Silver ShoesMen's - Air Jordan Post Game Matte Silver / White-Black Shoes,.
Men's - Air Jordan Ol'School II Black / Black-Varsity Red-White Shoes,Men's - Nike Air Max Speed Turf Wolf Grey / Metallic Silver-Black-Dark Grey ShoesMen's - Air Jordan Jumpman H-Series II Black / White-Cool Grey Shoes,. Hema, for example, is a start-up, backed by the Alibaba Group. As I witnessed during a recent visit to Alibaba’s headquarters in Hangzhou, a Hema store is a mixture of supermarket, restaurant, distribution centre and online store. Men's - Air Jordan Hydro II Flash Lime / Gamma Blue-Black-Club Pink Shoes,Men's - Nike Air Max Renegade Metallic Silver / Black-White ShoesMen's - Air Jordan Flight Club 91 Preschool Black / Gym Red-Night Stadium Shoes,.
Crucially, Men's - Air Jordan Flight 23 RST Black / White-Gym Red Shoes,Men's - Nike Air Max NM Pro Blue / White-Black ShoesMen's - Air Jordan CP3.III Black / Orion Blue-White Snstn Shoes,, 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. Men's - Air Jordan Classic 87 Midnight Navy / White Shoes,Men's - Nike Air Max Lunar90 C3.0 White / Black-Anthracite-Volt ShoesMen's - Air Jordan Alpha 1 Low Stealth / White-Obsidian Shoes,.
Finally, Men's - Air Jordan 1 Retro Low Gym Red / White-Black Shoes,Men's - Nike Air Max LeBron X Low Snoic Yellow / Sail-Cool Grey-True Yellow ShoesMen's - Air Jordan 1 Black / White-Silver DRK Chrcl Shoes,, 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, Men's - Adidas x Ransom Alan CS Espresso / Espresso Shoes,Men's - Nike Air Max LeBron 8 VIII V2 Low Wolf Grey / Metallic Silver ShoesMen's - Adidas Superstar II Musbro / Black Shoes,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Men's - Adidas Spezial Iron / Gray Shoes,Men's - Nike Air Max Hyperposite Black / Bright Crimson-Black ShoesMen's - Adidas Samba Black / Black 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, Men's - Adidas Orion 2 Green / White Shoes,Men's - Nike Air Max Go Strong Black / Black-Anthracite ShoesMen's - Adidas Jeremy Scott P-Sole Cherub Run White / Run White-RunWhite Shoes,.
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. Men's - Adidas Gazelle 2 Mid Cinder /Sol Blue-Running White Shoes,Men's - Nike Air Max Express Black / Metallic Silver-Brilliant Green-White ShoesMen's - Adidas Crazy 1 Black / Black-Metallic Silver Shoes,, 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”. Men's - Adidas Campus II Black / Black - Blue Shoes,Men's - Nike Air Max Correlate Stealth Green / Black-Canyon Glod ShoesMen's - Adidas AdiPure Crazy Quick Black / Black Shoes,, 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. Men Factory outlets 2011 Pro Bowl White Authentic Jersey Fashion Newest Customized Reebok San Francisco 49ers International Brand,Men's - Nike Air Max CB 34 Black / Club Purple-Team Orange-Black ShoesMen Adidas ZX 500 & Core Black,.