Study: China to overtake US as world's No 1 consumer

[beijingwalker]

Study: China to overtake US as world's No 1 consumer
Fri Aug 16, 2013 2:48PM GMT

Even with the ongoing slowdown of China's economic growth, the world's No 2 economy is expected to overtake the US to become the world's largest consumer market in the next five years, according to a new report by Standard & Poor's (S&P).


The report - entitled Financial Risks Are Rising as Retail and Consumer Product Companies Step up their Spending Spree - pointed out that in 2012, total retail sales of consumer goods in China grew 14.3 percent to about $3.29 trillion, compared with $4.35 trillion in the more mature market of the US.

China's retail and consumer product industries are refining their growth strategies by looking outside of the domestic market for growth opportunities. Overseas acquisitions, says the report, are attractive options for Chinese consumer companies to improve product quality, increase differentiation, and acquire better brands.

The most recent example is the offer by China's largest meat producer, Shuanghui International Holdings Ltd, to purchase Virginia-based Smithfield Foods Inc, the world's largest pork processor, for $7.1 billion, including a mix of debt and $4.7 billion in cash.

The Shuanghui-Smithfield deal is currently being reviewed - for a second time - by the Committee on Foreign Investment in the United States. If it gets approved, it will become the largest takeover of a US firm by a Chinese buyer.

"For many Western companies we rate - Yum Brands, Gap, General Motors, the German luxury automakers - Chinese consumer demand is already an important part of their business strategies," said Robert E. Schulz, managing director of S&P's Ratings Services in New York.

Part of that strategy incorporates the interest of Chinese consumers in foreign brands, said Schulz, who manages the US retail team.

"So the ability of the domestic Chinese retailers to sell to the local consumer and compete with foreign brands is already a major factor in the competitive landscape," he said. "As the Chinese economy grows and the base of consumers with disposable income increases, selling locally should remain an attractive but competitive proposition for Chinese retailers." China Daily

PressTV - Study: China to overtake US as world's No 1 consumer

 

[beijingwalker]

ith the tremendous wealth accumulted from the past 2 decades,China now is fast switching from export oriented to domestic demand driven economy.

 

[Lightningbolt]

We are already a superpower!

 

[Chinese-Dragon]

We are already a superpower!

You cannot be serious?

We are still a developing country.

 

[Fattyacids]

We are already a superpower!

No we are not, India is the superpower.

 

[oiltrader]

No we are not, India is the superpower.

nono no !!!!!

India is the supa dupa powa

 

[Lightningbolt]

You cannot be serious?

We are still a developing country.

Who cares about per capita nonsense. Absolutely size matters for national power. I stand by my statement that we are a superpower. Not yet the number 1 superpower, but we are A superpower.

 

[oiltrader]

Who cares about per capita nonsense. Absolutely size matters for national power. I stand by my statement that we are a superpower. Not yet the number 1 superpower, but we are A superpower.

China has been a superpower since 2006.

 

[Chinese-Dragon]

Who cares about per capita nonsense. Absolutely size matters for national power. I stand by my statement that we are a superpower. Not yet the number 1 superpower, but we are A superpower.

A superpower is a country that can project power on a worldwide scale.

We don't have a blue water navy yet, so how on Earth can we be a superpower? Only Indians get excited over the word superpower.

China is a developing country:

China still largest developing country in world: Hu Jintao - Xinhua News

 

[oiltrader]

A superpower is a country that can project power on a worldwide scale.

We don't have a blue water navy yet, so how on Earth can we be a superpower? Only Indians get excited over the word superpower.

China is a developing country:

BS. If you can build airborne brigades comparable to VDV and its mobile artillery capability which can be easily airdropped into enemy territory,massive nuclear arsenal,submarine fleet and civil defence capabilities you are a military superpower. Navies are easy targets for satellite based weaponry,cruise missiles and ballistic missiles. The coming time belongs to air and space ,not sea.

China has a massive nuclear arsenal and a submarine fleet .It is a military superpower though not comparable to USSR type. US military and economy is in collapse mode.

Drop that Qing style thinking of tailing behind.

 

[Chinese-Dragon]

BS. If you can build airborne brigades comparable to VDV and its mobile artillery capability which can be easily airdropped into enemy territory,massive nuclear arsenal,submarine fleet and civil defence capabilities you are a military superpower. Navies are easy targets for satellite based weaponry,cruise missiles and ballistic missiles. The coming time belongs to air and space ,not sea.

China has a massive nuclear arsenal and a submarine fleet .It is a military superpower though not comparable to USSR type. US military and economy is in collapse mode.

Drop that Qing style thinking of tailing behind.

Are you and Lightningbolt the same person?

What is an Indian doing trying to boast of China being a superpower?

We are a developing country. That's what our Government says and it is true, because being a developing country is a metric that is based on per capita income. Not on having a blue water navy, which we don't even have yet.

 

[hunter_hunted]

We are already a superpower!

Hold your horses. Alot of work needed to be done. Lets not get over excited

 

[Wright]

Are you and Lightningbolt the same person?

What is an Indian doing trying to boast of China being a superpower?

We are a developing country. That's what our Government says and it is true, because being a developing country is a metric that is based on per capita income. Not on having a blue water navy, which we don't even have yet.

Tell me what the USSR could do that China cannot? China is equal to or greater than the USSR at least.

 

[oiltrader]

Are you and Lightningbolt the same person?

What is an Indian doing trying to boast of China being a superpower?

We are a developing country. That's what our Government says and it is true, because being a developing country is a metric that is based on per capita income. Not on having a blue water navy, which we don't even have yet.

I am unbiased. Not one of the flag waving crazies. I have always like Bruce Lee,Jet Li and Jackie Chan's movies and believe that formation of a economic union between China and India is beneficial ,unlike what congress zionist-british administration is doing.

And you are already a superpower,though. Go to shadowstats and see the real GDP and inflation of USA.

 

[Chinese-Dragon]

Tell me what the USSR could do that China cannot? China is equal to or greater than the USSR at least.

Do you think China's current military strength was around the same as the USSR's military strength? Have you seen the Soviet Red Army at the peak of their power, they could have overrun Europe easily.

This is a superpower:

Superpower - Wikipedia, the free encyclopedia

A superpower is a state with a dominant position in the international system which has the ability to influence events and its own interests and project power on a worldwide scale to protect those interests. A superpower is traditionally considered to be a step higher than a great power.

Alice Lyman Miller (Professor of National Security Affairs at the Naval Postgraduate School), defines a superpower as "a country that has the capacity to project dominating power and influence anywhere in the world, and sometimes, in more than one region of the globe at a time, and so may plausibly attain the status of global hegemony."

It was a term first applied to the British Empire, the United States of America and the Soviet Union. Following World War II, the British Empire superpower status transferred to the United States. Post World War II phase, the United States and the Soviet Union came to be generally regarded as the two superpowers, and confronted each other in the Cold War.

I'm not sure if you read about the Cold War, but the Soviet Union was a monstrous power back then. They had half the world under their influence, and an Army was that like the apocalypse itself.

China on the other hand, we are still a developing country. The only metric by which we might be considered a superpower is economy. But in terms of military power and diplomatic influence, we are nowhere close to the erstwhile Soviet Union.

Most importantly, we lack the ability to project military power on a worldwide scale. America can do that, and the USSR could as well. For example, the Cuban missile crisis and the Soviet invasion of Afghanistan.

But who cares? Only Indians care about the word superpower. I don't, I just want my country to be developed.