Throughout the world, we are witnessing a growing middle-class with increased spending power. Nowhere is that more evident than in China, which, Cant says, is one of the largest markets in the world for cars, PCs and smartphones.
Most Chinese households now have basic goods such as TVs and fridges, but with higher salaries and a greater ability to make purchase choices, consumers are moving up the chain and buying premium level products in everything from food and drink to technology. But who are these new consumers?
By 2030, more than 1 billion people in China will be classed as middle-class
“For the first time ever there are more people living in China’s cities than in the countryside and this trend will only continue,”
“By 2030, more than 1 billion people in China will be classed as middle-class, earning more than RMB30,000 a year, and they’re spending their disposable income rather than saving as they have done in the past.
“These consumers are educated, skilled, price savvy and internet savvy. In fact the rise of the internet and online spending is one of the biggest success stories in China.
“Foreign brands are very popular with China’s young consumers, particularly those visible products that have status appeal. I also see real opportunities for overseas investors in areas such as vitamins, health foods and medical devices as China’s health system and awareness continues to improve. Beyond that, travel and entertainment are increasingly popular, indeed the rise of the Chinese tourist is one of the most significant trends we will see.”
Will Myanmar’s coup help China influence ASEAN?
The Myanmar crisis is becoming increasingly tragic, with the military’s use of lethal force now killing over 60 protestors.
Rapid growth in China post-COVID makes it ripe for investment
Being “first in and first out” of COVID-19, China is the only country among the G20 that is thought by the Organisation for Economic Co-operation and Development (OECD) to have increased GDP in 2020.
In January 2020 as the world began to learn of COVID-19, many market observers predicted a challenging year for Asia. While there continue to be headwinds from the health and economic crisis, Asia, and China in particular, has demonstrated comparatively advantageous resilience.
Mainland China is in no position to take Taiwan by force
Unlike his predecessors, Chinese President Xi Jinping has demonstrated greater intensity in the desire for reunification.
The situation across the Taiwan Strait has seemed to be on the brink of crisis since 2018. Beijing has sent numerous sorties of military aircraft to conduct exercises near Taiwan and frequently crossed the median line of the Taiwan Strait.
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