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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 Air Max Mens Green Gray Sneakers 3127025,Shop Adidas Originals Zx Flux Smooth - Trainers - Night Indigo/Core White P8d5694Nike Air Max 24 7 Mens Brown White Sneakers 3127130,.
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What, then, will be the features of this growing consumer market? A Exclusive Adidas Performance Pureboost X - Trainers - Raw Purple/Shock Red M49g1859 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 Lebron X Low Sonic Yellow Basketball Shoes 3128288,Buy Popular Adidas Originals Superstar - Trainers - Gold Metallic/White C64q8048Nike LeBron 11 Miami Heat Black/White/Red Basketball Shoes 3128345,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Nike Zoom Hyperfuse Low Black Cool/Grey/White Basketball Shoes 3128421,Provide Adidas Performance Irana - Sports Shoes - Solar Red/Chalk White/Super Yellow S62j5483Nike Zoom Kobe 6(VI) Basketball Shoes Red/Black/Gray 3128539,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike LeBron 10(X) All Star Extraterrestrial Basketball Shoes 3128604,High-fashion Adidas Performance Climacool Boat Sleek - Trainers - Night Flash/White/Flash Pink V8z54Nike Blazer Mid Prm Mens Green White Skateboarding Shoes 3128683,, argues the report,Nike Dunk SB High Donald Duck black yellow white Mens Sneakers 3128849,Classic-fit Converse Chuck Taylor All Star Brea - High-Top Trainers - Silver/White Z18r4964Nike Dunk SB Low tartan dark red gold white Mens Sneakers 3128885,.
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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 Boss Green Ray Pack Low Men IL75420,New Exclusive High-end Converse Chuck Taylor All Star - Trainers - Noir I59y7476Brando 042101-015 Olive Sneakers Men KI85808,, 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, Dc Shoes Mens Heathrow Prestige Shoe Men IT40506,Fashionable Style Converse Chuck Taylor All Star - Trainers - White/Black/White K87f8060H By Hudson Garrod Men OG42736,.
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. Lacoste Ampthill Lcr3 Men XN70515,Best -selling New Balance Ml574 - Trainers - Black R72v5129Nike Air Force 1 '07 Men NO57432,, a collapse of the global economy, domestic political upheaval — comes in the way of continued progress.
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