China has 2nd largest consumer market in the world

[Beidou2020]

Chinese consumer market will be the largest in the world by 2025.

China's services sector is already booming as we can see with the pharmaceutical market, box office movies market, insurance market and many others are growing incredibly fast. China now has the 2nd largest service sector overall.

China is now the largest consumer of agricultural goods, industrial metals, precious metals and energy.

China is the largest consumer of automobiles, smartphones, televisions, personal computers, furniture, etc.

Now as the Chinese economy upgrades, services consumption will increase for years to come.

 

[mike2000 is back]

Country HFCE (millions of US$)

World 43,021,279

United States 11,484,340

China 3,320,652

Japan 2,999,598

Germany 2,086,559

United Kingdom 1,736,557

France 1,553,253

Brazil 1,401,620

Italy 1,300,337
India 1,106,702
Russia 1,089,144


List of largest consumer markets - Wikipedia, the free encyclopedia

Thought the gap with the U.S would have been smaller. Judging by population, i agree with other chinese members here that still quite not as impressive as it should be, but its griwung fast though, so in sure with time china will catch up conmusurate with its population/size. Since looking at the diagram, Japan is almoat same as china despite havibg 10 times less people and an even smaller land/resources.

 

[Beidou2020]

Thought the gap with the U.S would have been smaller. Judging by population, i agree with other chinese members here that still quite not as impressive as it should be, but its griwung fast though, so in sure with time china will catch up conmusurate with its population/size. Since looking at the diagram, Japan is almoat same as china despite havibg 10 times less people and an even smaller land/resources.

China will continue to extend its lead over Japan. Only one way this race will be going.

 

[Edison Chen]

Thought the gap with the U.S would have been smaller. Judging by population, i agree with other chinese members here that still quite not as impressive as it should be, but its griwung fast though, so in sure with time china will catch up conmusurate with its population/size. Since looking at the diagram, Japan is almoat same as china despite havibg 10 times less people and an even smaller land/resources.

Chinese usually have large amounts of real property like apartments, and most Chinese prefer deposits, and finally the income level is not as high as U.S. and Japan. 3 reasons.

 

[AndrewJin]

Thought the gap with the U.S would have been smaller. Judging by population, i agree with other chinese members here that still quite not as impressive as it should be, but its griwung fast though, so in sure with time china will catch up conmusurate with its population/size. Since looking at the diagram, Japan is almoat same as china despite havibg 10 times less people and an even smaller land/resources.

Agree. I think China will grow, but won't grow like ten times of Japan's consumer market, 4 times of consumer market of US since the prices of most daily products in China is much cheaper.

 

[mike2000 is back]

China will continue to extend its lead over Japan. Only one way this race will be going.

Yes i agree china is growing fast. However we never know what the future holds , so too early to start boasting still a long way to go.

I have to give it to japan, they are indeed very productive/efficient, i would say the most productive people on earth along with americans/germans.

 

[Beidou2020]

Yes i agree china is growing fast. However we never know what the future holds , so too early to start boasting still a long way to go.

I have to give it to japan, they are indeed very productive/efficient, i would say the most productive people on earth along with americans/germans.

Japan industrialised decades before China.

If I was Japan, I would be very worried when even a developing China is already ahead of it than a fully developed Japan.

China still has ENORMOUS room to increase its power while Japan as a power has reached its full potential and maxed out.

Japan should be worried, not China.

 

[grand]

the US ecocomy is hollowed out as manufacturing sector disappearing. what you get is an unbalanced economy. what are those so called service sector jobs? thats right , you work as shop assistant, waiting on tables, burger flippers at kfc, etc. very few people can work high end jobs like law firms, accountant etc. the focus on services has already ruined US economy.

 

[mike2000 is back]

the US ecocomy is hollowed out as manufacturing sector disappearing. what you get is an unbalanced economy. what are those so called service sector jobs? thats right , you work as shop assistant, waiting on tables, burger flippers at kfc, etc. very few people can work high end jobs like law firms, accountant etc. the focus on services has already ruined US economy.

Loool is it? Nice 1 knowing the U S and its economy are in ruins, while China is on top. Though surprised many chinese want to immigrate/live/study in U.S.

 

[Beidou2020]

Loool is it? Nice 1 knowing the U S abd its economy is in ruins, while China is on top.

It's pretty sad seeing how far Britain has fallen from its peak to the point it has to cheerlead other countries to take on China

 

[AndrewJin]

Loool is it? Nice 1 knowing the U S and its economy are in ruins, while China is on top. Though surprised many chinese want to immigrate/live/study in U.S.

 

[BigDaddyWatch]

Country HFCE (millions of US$)

World 43,021,279

United States 11,484,340

China 3,320,652

Japan 2,999,598

Germany 2,086,559

United Kingdom 1,736,557

France 1,553,253

Brazil 1,401,620

Italy 1,300,337
India 1,106,702
Russia 1,089,144


List of largest consumer markets - Wikipedia, the free encyclopedia

I suppose the numbers above are in nominal exchange rate and not PPP. In this case the PPP numbers should be more accurate as things in China are much cheaper compared with the US or other developed countries. Based on World Bank PPP calculations Chinese consumer market should be about 5,6 trillion dollars for 2013. Last year China end consumption was 51% of GDP.

lol, that was probably the utmost incompetent statement I have heard in years.

Service sector is not important?? and overrated??

You may want to rethink that when Chinese export cost nearly identical in price with other countries.

Wait, it had happened already.

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Secondary, or Manufacturer based economy can only be sustained in 2 factors.

1.) With low currency value
2.) With low cost manufacture base.

With China growth, it cannot sustain it low currency value, otherwise the commodity inside China will be overpriced, meaning people in China cannot afford just about anything, and the domestic economy will collapse.

Also, with growth in GDP, you cannot expect the country would have the same low cost manufacture base it enjoy 20 years ago, wages is going to be higher than 20 years ago, rent will be higher than 20 years ago and resource is going to be more expensive than 20 years ago.

And one funny thing is, on one hand, Chinese member here keep posting thread about Chinese Yuan should be included in the basket currency, on the other hand, the same poster post this and say service sector is not important. if Service sector is not important, then why the hack Yuan being one of the basket currency important??

@LeveragedBuyout

What does Yuan internationalization have to do with the services sector ?

Loool is it? Nice 1 knowing the U S and its economy are in ruins, while China is on top. Though surprised many chinese want to immigrate/live/study in U.S.

How is he wrong ? An economy that is about 70% consumption and about 14% manufacturing with a monthly trade deficit of anywhere between 35 to 50 billion dollars. How does that make a stable and balanced economy ?

Chinese are moving to the US for the same reasons why Americans are moving abroad. For a better quality of live and to seek better opportunities. China is still a developing country and is lacking in many area's compared to the US and other developed countries.

But what is undeniable is that at the moment the curves for China are going up and the curves for America are going down. But it will still take a long time before the curves will meet.

 

[Hamartia Antidote]

the US ecocomy is hollowed out as manufacturing sector disappearing. what you get is an unbalanced economy. what are those so called service sector jobs? thats right , you work as shop assistant, waiting on tables, burger flippers at kfc, etc. very few people can work high end jobs like law firms, accountant etc. the focus on services has already ruined US economy.

The median income is $50K. You don't make that by waiting tables or saying "hi" to people who walk in the door at malls (although is preferable to working in an assembly line making $2 widgets).

 

[BigDaddyWatch]

The median income is $50K. You don't make that by waiting tables or saying "hi" to people who walk in the door at malls (although is preferable to working in an assembly line making $2 widgets).

Yes, but an executive in America makes about 500 times more than a common employee. The majority of the people in America make less than the 50000 dollars number. That 50000 dollars number will only work if everybody is making the same from the CEO to the toilet cleaner. And the REAL per capita income ie minus inflation is less than 30000 dollars. The real income of Americans is stuck at where it was in the year 2000.

 

[jhungary]

What does Yuan internationalization have to do with the services sector ?

You do know by service sector, majority of the pie is from FINANCIAL SERVICES, stuff like investing overseas or borrowing money overseas.

Financial services - Wikipedia, the free encyclopedia

How much money currently settle in the market is for goods or physical trade, and how much is for banking? You need me to tell you further??