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Men's Jordan Rising High Gym Red/White/Black,Men's Nike Dunk Low Pro SB Tiffany Diamond Aqua Cool Grey,Men's Jordan Ultra Fly 2 TB Game Royal/Black/Photo Blue/Metallic Silver,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Men's KD 8 EXT Black/Metallic Gold/Laser Crimson/Black,Men's Nike Dunks High Married to the Mob (Twine White Black),Men's Kyrie 1 Menta/Emerald Green/Fuchsia Flash/White,. 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 LeBron Soldier 9 (Team) White/Black/Metallic Silver,Men's Nike Dunk SB High Premium (Twin Peaks),Men's Nike Air Epic Dark Sage/Seaweed/Sail/Lucid Green,.
Men's Nike Air Force 1 07 LV8 White/Gum Light Brown/White,Men's Nike SB Dunk Low Dark Chocolate Metallic Silver Red,Men's Nike Air Force 1 Mid Premium Obsidian/Brilliant Orange,. 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 Nike Air Huarache Bright Crimson/Cool Grey/Black/University Blue,Mens Nike Air Max 2009 Shoes - Black/Blue Leather,Men's Nike Air Max 1 Premium SC White,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Men's Nike Air Max 2016 Crimson,Mens Nike Air Max 2009 Shoes - Electric Green/Grey/Black,Men's Nike Air Max 90 Winter Premium Squadron Blue/Black,, too, that, after 2023, Men's Nike Air Max 97 Premium Particle Beige/Rush Pink/Sand/Black,Mens Nike Air Max 2009 Shoes - White/Silver/Black Leather,Men's NIKE AIR MAX MVP ELITE 2 3/4 METAL Black/Dark Grey/University Red/White,. 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 Nike Air Pegasus 83 PGS Leather Squadron Blue/Black/Beach/Sail,Mens Nike Air Max 2010 Shoes - Black/Yellow/White,Men's NIKE AIR PRESTO WHITE,.
What, then, will be the features of this growing consumer market? A Mens Nike Air Max 360 Shoes - Black/Red Logo, 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 Nike Air Zoom 90 IT Black/White/Volt/Anthracite,Mens Nike Air Max 90 Shoes - Black/Sky/Orange,Men's NIKE AIR ZOOM PEGASUS 33 (TEAM) White/Pure Platinum/Black/Cool Grey,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Men's Nike Air Zoom Structure 19 Flash Black/Cool Grey/Pure Platinum/Reflect Silver,Mens Nike Air Max 90 Shoes - Blue/White,Men's Nike Alpha Lunar Clipper 17 Turf Game Royal/Game Royal/White,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Men's Nike Chuck Posite Sliver/Black,Mens Nike Air Max 95 Shoes - Black Leather,MEN'S NIKE DUAL FUSION RUN 3 Blue Black White Orange,, argues the report,Men's Nike Flight Bonafide Black/White/Hyper Crimson/Black,Mens Nike Air Max LTD Shoes - White/Black/Darkgoldenrod Logo,MEN'S NIKE FLYKNIT RACER Hyper Punch/Black/Electric Green,.
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Crucially, Men's Nike HyperLive Vivid Pink/Pink Blast/White/Black,Mens Nike Shox NZ Shoes Silver Blue,Men's Nike Hypervenom Phelon II IC Total Orange/Black/Total Orange,, 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 Nike Internationalist Knit Jacquard Moire QS Black/White/Black,Mens Nike Shox OZ Shoes Black Silver,Men's Nike Lil' Penny Posite Black/Reflect Silver/Hyper Jade/Black,.
Finally, Men's Nike Lunarbeast Elite TD Black/Stealth/White,Mens Nike Shox R6 Shoes White Black Gray,Men's Nike LunarTempo White/Wolf Grey/Dark Grey/Black,, 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 NIKE MAGISTA OPUS FG Total Orange/Laser Orange/Hyper Punch/Persian Violet,Mens Puma Complete Vectana Gray,Men's Nike Mercurial Superfly 360 Elite AG-PRO Total Orange/Total Orange/Volt/White,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Men's NIKE MERCURIAL SUPERFLY V FG PINK,Mens Puma Drift Cat Trainers Red with White,MEN'S NIKE MERCURIAL VICTORY V FG Bright Crimson/Persian Violet,, 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 Nike MercurialX Proximo IC White/Black/Black,Mens Puma Fluxion II Trainers Black-White,Men's Nike Prime Hype DF II Cool Grey/Black/Metallic Silver/Reflect Silver,.
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 Nike Roshe Two Black/Sail/Volt/Anthracite,Mens Puma Future Cat Low White with Red,Men's NIKE SB PAUL RODRIGUEZ CITADEL Black/White,, 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 Nike Shox Agent White/Black,Mens Puma Jiyu V Wn's Trainers White Red Black,Men's Nike Tiempo Legend VII FG Gamma Blue/Obsidian/Glacier Blue/White,, 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'S NIKE VAPOR SPEED LOW TD Game Red/White,Mens Puma Tour Cat Trainers Black Blue White,Men's NIKE ZOOM ALL OUT LOW Black/Anthracite/White/Dark Grey,.