The growing middle class in China could prove to be one of the largest groups of consumers the world has ever known, eventually dwarfing the United States middle class, which today, their purchases are keeping up most of the World’s economies. So, just how big is the Chinese middle-class today, and how big might it get you ask? Well this is a decent query and an foremost one for anything who wishes to sell their wares in China.
By some economic Chinese Analysts definition the Middle Class in China is carefully to be about 00 in annual buying power. Using this as a definition, China has 470 million citizen in its middle class. The Chinese Government states that it has 250 million plus in its Middle Class now. By just below our minimal standards in the Us, they’d have about 90 million or so.
What will these up and arrival Chinese consumers be buying; everything, from computers and Tvs to cars and jewelry, from tour to fine dining, and from automobiles to costly clothing. You name it, they’ll be buying it, and dream the buying power of 500 to a Billion consumers from China by 2020? That is an thinkable, army of customers, one that will only grow with time.
The future of China will in effect be about the consumer, and this chapter is only starting to be written. query is; are you on board to take this occasion and make some hay? Please think all this.
1.) “A Bull in China,” by Jim Rogers, Random House, New York, Ny; 2006 (Chapter Iii).
2.) Chinese Economic Data from Wall street Journal Website.