Author: saltandpepper

China to become world's largest consumer market   [Copy link] 中文

Rank: 6Rank: 6

Post time 2012-5-31 15:03:53 |Display all floors
America's GDP stands at 14b USD, not the consumption level, whereas China's stands at 7,4b USD.

Your figures are outdated or odd.


America's GDP is, as of 2011, at USD 15.1 Billion, China's at 7.3, according to the IMF's figure - but that's just a detail.
The crucial point is the share of consumption in the GDP. In China, only 46.64 percent of the GDP are consumed (and even thereof a considerable part by the government). Meanwhile, 88,47 percent of America's, GDP flow into consumption. Both figures according to the IMF statistics of 2011.

Therefore, the exact consumption level in the US at the moment is 13.4 billion US-Dollars and that in China 3.4 billion US-Dollars. Now if China raises to 5 billion US-Dollars, it will still be far behind the US - especially, if America gets out of the crisis, grows again and reaches a higher level of consumption (as it always does when economy runs well) again.

However, my point remains and my question lingers: why should 5 billion USD be larger than 13 or 14 billion USD?

I don't foresee how this will occur as 80% of the population can't afford or are not interested in purchasing high priced things here.


If you offer people some security that they know they don't have to save as much and if you beef up salaries so they can afford more, they'll also consume more. I believe the Chinese government is up to this, especially if it fights corruption and waste. And if China's consumption keeps growing at, say, 10 percent a year, it might really reach 5 billion by 2015. And 10 percent are reasonable growth figure for China's consumption market - it might even be higher.

Use magic tools Report

Rank: 1

Post time 2012-5-31 15:14:29 |Display all floors
Yes i agree

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-5-31 15:40:05 |Display all floors
BEIJING - China's Commerce Minister Chen Deming said Monday that China is expected to become the world's largest consumer market in 2015.

The volume of consumer retail sales will surpass $5 trillion in 2015 amid an accelerated urbanization rate and the rise of people's incomes, Chen said at the opening ceremony of the first Beijing International Fair for Trade in Service.
______________________
great news

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-5-31 15:44:14 |Display all floors
Everynowhere Post time: 2012-5-31 15:03
America's GDP is, as of 2011, at USD 15.1 Billion, China's at 7.3, according to the IMF's figure - ...

Amerikkkkkkkkkka is deindustrilaised nobody sane believe that Amerikkkkkkkkka have gdp 15 trillion.

Amerikkkkkkkkkkkkkkan GDP is made 75% out of service sector and phoney accounting , WALMART industry of USA is non productive and non-sustainable

Use magic tools Report

Rank: 6Rank: 6

Post time 2012-5-31 15:55:28 |Display all floors
This post was edited by Chegsyboy at 2012-5-31 16:00
SMITHI Post time: 2012-5-31 15:44
Amerikkkkkkkkkka is deindustrilaised nobody sane believe that Amerikkkkkkkkka have gdp 15 trillion ...

Heavy industry is the footprint of a developing nation, not a developed one. On the subject of Walmart; It's doing pretty well in China.................

Use magic tools Report

Rank: 8Rank: 8

Post time 2012-5-31 16:05:45 |Display all floors
Chegsyboy Post time: 2012-5-31 15:55
Heavy industry is the footprint of a developing nation, not a developed one. On the subject of Walm ...

hmmmmmmmmm Greeks would sure like to have some heavy industry looking at it retrospectivly

Use magic tools Report

Rank: 6Rank: 6

Post time 2012-5-31 16:09:55 |Display all floors
SMITHI Post time: 2012-5-31 16:05
hmmmmmmmmm Greeks would sure like to have some heavy industry looking at it retrospectivly

Greeks just need to stop tax avoidance and do their duty to their country. Theirs is a completely different set of circumstances. You're comparing apples and oranges.

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.