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Men's Jordan Formula 23 Low Gym Red/Pure Platinum/Black/Gym Red,Mens Puma Future Cat Lo Engine trainers White-BlackMen's Jordan Melo 11 Blue Graphite/Black/Game Royal/Metallic Silver,, rapidly growing, but challenging, consumer market as it evolves from being the “workshop of the world”.
Men's Jordan Super.Fly 2017 N7 Black/University Red/White/Dark Turquoise,Mens Puma Grit Cat Shoes White BlueMen's JORDAN SUPER.FLY 5 PO White/White/Black,. 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 KD 8 Lifestyle Metallic Silver/White/Black/Metallic Silver,Mens Puma Kimi Raikkonen Trainers BlackMen's Kyrie 2 All-star,.
Men's Kyrie 4 Black/Anthracite/Light Racer Blue/White,Mens Puma Lazy Insect Trainers Brown with BeigeMen's LeBron XII Low University Red/Gym Red/Black/White,. 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 FOAMPOSITE ONE Night Maroon/Black/Gum Light Brown/Night Maroon,Mens Puma Lazy Insect Trainers Red and BlackMen's Nike Air Force 1 07 LV8 University Red/Midnight Navy/University Gold/University Red,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Men's Nike Air Force 1 Mid 07 Canvas Dark Stucco/Sequoia/Vivid Sulfur/Dark Stucco,Mens Puma Lazy Insect Trainers Black and RedMen's Nike Air Huarache Premium Blur/Natural/White/Blur,, too, that, after 2023, Men's Nike Air Max 1 Ultra Essential Black,Mens Puma Lazy Insect Trainers Black and WhiteMEN'S NIKE AIR MAX 2015 Black/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 Max 90 Premium Indigo,Mens Puma Speed Cat Trainers Silver SiennaMen's Nike Air Max 90 Ultra Essential Cyan,.
What, then, will be the features of this growing consumer market? A Mens Puma Speed Cat Big Trainers Wheat 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 Max Bo Jax Premium Hyper Jade/Black/Light Magnet Grey/Hyper Punch,Mens Puma Speed Cat Trainers Yellow GreenMEN'S NIKE AIR MAX TAILWIND 7 Black/Blue Lagoon/Poison Green/Whi,.
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 ODYSSEY LTR Lunar Grey/Mine Grey/Metallic Hematite/Tumbled Grey,New Air Jordan 6-University Gold/Grey/White A6651-16Men's NIKE AIR PRESTO ULTRA FLYKNIT Racer Blue/Racer Blue/White,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. MEN'S Nike Air Vapor Max Dark Grey,New Air Jordan 6 Fusion-University Black/Jaffa Orange A1256-90Men's Nike Air Zoom Grade Pinnacle Night,, argues the report,Men's NIKE AIR ZOOM PEGASUS 34 Pure Platinum/Cool Grey/Black/Anthracite,New Air Jordan 1 fusion-White/Grey/Blcak A4689-26Men's Nike Air Zoom Vomero 10 Game Royal/Midnight Navy/Hot Lava/White,.
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Crucially, Men's NIKE FORCE ZOOM TROUT 3 TURF Khaki/Oatmeal/White,Nike Air Force 1 All Star 2010 White Metallic Silver BlackMen's Nike Free 5.0 Running Shoes Red,, 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 Free OG 14 PA Black/Black/Sea Glass/Black,Nike Air Force 1 07 Low White White Varsity PurpleMEN'S Nike Free Trainer 1.0 Black/White,.
Finally, Men's Nike Hyperdunk 2015 Low Limited Black/White/Hyper Jade,Nike Air Force 1 High Premium Bobbito Puerto Rico BlueMen's NIke Hypervenom Phantom III DF FG 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 HYPERVENOM PHELON PREMIUM IC Chrome/Metallic Gold Coin/Hyper Pink,Nike Air Force 1 High Supreme Nitro Microphone UndergroundMen's Nike Internationalist Wolf Grey/Sail/Sail,.
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 Lunar Ballistec 1.5 Black/Volt/Black,Nike Air Force 1 Low HTM Fragment Black Black NetMEN'S NIKE LUNAR TR1 (SUPER BOWL EDITION) Black/Total Orange/Ink/Metallic Silver,, 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 LUNARCHARGE PREMIUM Light Bone/Pale Grey/Volt/Summit White,Nike Air Force 1 Low Mens in Blue/Silver/White/BlackMen's Nike LunarTempo Lyon Blue/White/Black/Poison Green,.
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 MAGISTA OPUS FG Metallic Pewter/White/Black/Black,Nike Air Force 1 Low Mens Shoes in Black/White/BlackMEN'S Nike MagistaX Proximo II IC Black/University Red/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 MERCURIAL SUPERFLY SG-PRO Hyper Pink/Black/Hyper Punch/Hyper Pink,Nike Air Force 1 Low Notebook (GS) Back to School PackMen's NIKE MERCURIAL VAPOR XI FG Black/Dark Grey/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 MERCURIAL VICTORY VI TF Orange,Nike Air Force 1 Low Premium Tennis Pack Black White Hot RedMen's NIKE METCON REPPER DSX Black/White,.