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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, Gripz / Sis Strappy Wedges / Beige,Men Under Armour Micro G Sting Trainer 2'Training Shoes' Deep Red/High-Vis Yellow Model UK2699,Jlula / Handmade Genuine Leather Boat Shoe ,.
Keds / Double Decker Matte Woven Slip Ons / Cream,Men Under Armour Micro G Torch 4'Basketball Shoes' Red/Black/White Model UK2722,Louis Cuppers / Perforated Flats / Black,. 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). Mango / Strappy Heeled Sandals / Bright Pink,Men Under Armour Yard Low ST'Baseball Shoes' White/Red Model UK2755,Adidas Originals Courtvantage Red,, and its aggregate consumption would reach 74 per cent of US levels by 2027. (See charts above).
Assume, instead, Adidas Originals Superstar 80S Black,Men Under Armour Micro G Torch 4'Basketball Shoes' Academy/Blue Jet/Hi Vis Yellow Model UK2720,Adidas Originals Haven W Grey,, too, that, after 2023, Adidas Originals Zx Flux Pk W Green,Men Under Armour Yard Mid ST'Baseball Shoes' White/Forest Green Model UK2745,Converse Chuck Taylor All Star Sawyer Ox M Red,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Converse Chuck Taylor All Star Boot Pc Suede Hi Brown,Men Under Armour Yard Mid ST'Baseball Shoes' White/Midnight Navy Model UK2757,Converse Chuck Taylor All Star Ox W Black,.
What, then, will be the features of this growing consumer market? A Men Under Armour Micro G Limitless TR'Training Shoes' Black/Hyper Green Model UK2779, 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, Converse Chuck Taylor All Star Hi Oil Slick Toe Cap W Beige,Men Under Armour Flow RN Grid'Running Shoes' White/Black/White Model UK2801,Converse Breakpoint Ox Metallic Canvas W Bronze and Gold,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, New Balance WL410 Grey,Men Under Armour Speedform Fortis'Running Shoes' Poison/Black/White Model UK2817,New Balance WR996 Pink,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Nike Nike Air Pegasus 83 Orange,Men Vans Chima Pro'Casual Shoes' Tan/White Model UK2859,Nike Wmns Air Force 1 Hi Se Multicolor,, argues the report,Nike Wmns Internationalist Beige,Men Vans Sk8 Hi'Casual Shoes' Mickey & Friends/Black Model UK2882,Nike W Nike Free 5.0 Tr Fit 5 Brthe Blue,.
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Crucially, Converse Chuck Taylor All Star Vintage Flag Hi Unisex Sneakers Midnight Hour 591006,Nike Lunarglide 4 Mens Running Shoes Gray Jade Z8301,Nike Air Max Tailwind 8 Print Men Running Shoes Tumbled Grey/Bright Crimson/White/Reflect Silver 473,, 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 Trainers Fashion Color 619378,Nike Lunarspider LT+ 2 Mens Grey Green Running Shoes Z8356,Adidas Climachill Cosmic Men Running Shoes Green 719628,.
Finally, Nike Nike Air Max Tn Requin Men Shoes White Black 611935,Nike Lunarspider LT+ 2 Mens Volt Black Photo Blue Running Shoes Z8360,Nike Zoom Men Sneakers Blue 835314,, 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, Le Coq Sportif Men Casual Lace-Ups Dark Blue 945947,Nike Roshe Run Mesh Mens Trainers Black Red Z8415,Nike Nike Zoom Lebron 9.5 Men Sports Shoes Blue White Red 944491,.
The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Bugatti Men Casual Lace-Ups Blue 488146,Nike Roshe Run Mesh Mens Trainers Gray Orange Silver Z8425,Kielz Men Sneakers Brown 440026,, 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, Lee Cooper Men Sneakers Blue 880798,Nike Flyknit Trainer+ Woven Mens Running Shoes Grey Black Z8556,Boxfresh Men Shoes Black/Black 235049,.
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. Lowa Men Winter Boots Anthracite 111151,Mens Nike Free 3.0 V3 Obsidian/Pure Purple-Turquoise Blue Running Shoes Z8567,Nike Air Penny Ii Kids Shoes Black/University Red/White 696694,, 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”. Michael Kors Kids Slip-Ons Gold 805102,Mens Nike Free 4.0 V4 Royalblue Running Shoes Z8588,Superfit Kids Velcro Shoes Grey 224832,, 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. I Love Billy Bag Shoes Fashion Color 366171,Nike Free 5.0 Flyknit Mens Running Shoes Grey Blue Black White Z8656,Discount Sale Adidas 15.3 Messi Exclusive FG Soccer Boots Blue Silver Black N56t4077,.