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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, Men's Jordan Eclipse Black/Fire Pink/Atomic Orange/Photo Blue,Mens Nike Air Structure Triax 91 Shoes - Grey/Sky Blue/White ShoMen's Jordan Flight Runner 2 Gym Red/Black/White,.
Men's Jordan Jeter Lux White/Metallic Silver/White,Mens Nike Air Structure Triax 91 Shoes - Black/Gold/WhiteMen's Jordan Super.Fly 2017 Low Black/Black/Metallic Gold,. 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 JORDAN SUPER.FLY 5 PO White/White/Black,Mens Nike Shox NZ Shoes Black GreenMEN'S KD7 BHM Black/Wolf Grey/White,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Men's Kyrie 1 Deep Pewter/Tumbled Grey/Night Silver/Volt,Mens Nike Shox Deliver Running Shoe White Black RedMen's LeBron 15 Black/White/White,, too, that, after 2023, Men's Nike Air ACG Mowabb OG Black,Mens Nike Shox NZ Shoes White SilverMen's Nike Air Force 1 '07 QS University Red/White/University Red,. 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 Force 1 Elite Textile Crimson/Green Glow/Black,Mens Nike Shox OZ Shoes Black GoldMen's Nike Air Huarache '91 QS White/Black/Dynamic Pink/Game Royal,.
What, then, will be the features of this growing consumer market? A Mens Nike Shox R2 Shoes Black Green 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 Huarache Ultra Grey,Mens Nike Shox R3 Shoes Black GreenMEN'S NIKE AIR MAX 2014 White/Pure Platinum/Wolf Grey/Black,.
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 Max 2016 Red,Mens Nike Shox R3 Shoes SilverMen's NIKE AIR MAX 90 ULTRA 2.0 FLYKNIT Black/Paramount Blue/Volt/Bright Crimson,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Men's Nike Air Max 98 Beyaz/Obsidian/Metallic Silver/University Red,Mens Nike Shox R4 Shoes Black Silver RedMen's Nike Air Max Lunar90 Water Resistant Hyper Crimson/Red Clay/Light Ash Grey/Dark Ash,, argues the report,Men's Nike Air Max Tavas Wolf Grey/Dark Grey/Pure Platinum/Black,Mens Nike Shox R6 Shoes Silver BlueMen's NIKE AIR PRESTO ESSENTIAL White/Black/White,.
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Crucially, Men's Nike Alpha Pro 2 3/4 D White/Cool Grey,Mens Puma Bolt signature running shoes White with GrayMen's NIKE DUAL FUSION BALLISTEC ADVANTAGE Blue Force/Blue Lagoon/Black,, 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 DUNK HIGH PREMIUM SB Pecan/White,Mens Puma Drift Cat SF White SkyMEN'S NIKE FLYKNIT LUNAR2 Wolf Grey/Volt/Black,.
Finally, MEN'S NIKE FREE 5.0 PT Blue/University Blue/Black/Electric Green,Mens Puma Fluxion II GT Trainers Black-White-RedMen's NIKE FREE SB Black/Black/White/Gorge Green,, 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 Free Trainer 5.0 V6 AMP (Oklahoma) Team Crimson/White,Mens Puma Fluxion II Trainers Dark BlackMEN'S NIKE HYPERDUNK 2014 TB Gorge Green/Electric Green/White/Metallic Silver,.
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 Hyperdunk Low Lux Paramount Blue/Summit White/Paramount Blue,Mens Puma Future Cat Lo Engine trainers White-GoldMen's Nike HYPERVENOM Phelon AG Boots Red,, 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 HypervenomX Proximo Neymar TF White/Light Crimson/Black/Reflect Silver,Mens Puma Future Cat Low Red with WhiteMEN'S NIKE KOBE 9 ELITE Black/Volt/Anthracite/Metallic Gold,.
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 Lunar Control Vapor 2 QS Black/White/Solar Red/Black,Mens Puma Kimi Raikkonen Trainers Black RedMEN'S NIKE LUNAR TRAINER 1 Black/Photo Blue/Metallic Silver,, 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 LunarGlide 7 Flash Black/Pure Platinum/Dark Grey/Reflect Silver,Mens Puma Kimi Raikkonen Shoes White BlackMen's NIKE MAGISTA ONDA FG Black/Blue Lagoon/Volt/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 MAGISTA ORDEN FG White/Black/Total Orange/Poison Green,Mens Puma Speed Cat Big Trainers WheatMen's Nike Mercurial Superfly FG CR7 Black/White,.