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The Rise of the Chinese Consumer: Theory and Evidence [Hardcover]

J. F. Garner
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Book Description

23 Sep 2005
In this book Jonathan Garner and his colleagues at Credit Suisse First Boston, argue that by 2014 the Chinese consumer will likely have displaced the US consumer as the engine of growth in the global economy. Government policy is rebalancing demand within the Chinese economy from investment spending to consumption spending. Strong trend economic growth over the cycle, a rise in the consumption to GDP ratio and steady exchange rate appreciation will likely generate an 18% compound annual growth rate in the US dollar value of Chinese consumption spending over the next ten years and lead to a quadrupling in China′s share of global consumption spending. In order to identify the companies and brands which are best placed to succeed in China′s rapidly developing mass consumer market, Garner and his colleagues discuss the results of the first comprehensive survey of consumer attitudes and preferences to have been conducted in China, covering 2,700 persons in eight major Chinese cities. This survey provides valuable data for the business executive or academic seeking detailed local information on sectors including automobiles, beverages, electronic goods, financial services, food producers, food retail, food services, household & personal care, luxury goods, telecommunication equipment, tobacco, and transport and leisure travel. "China is likely to be the single most important influence on the fortunes of investors and corporates alike over the next five years, and yet little is known of what motivates and drives the Chinese consumer. By canvassing the people that matter and reflect the changing face of this massive country, Jonathan Garner has provided investors with a unique insight." Philip Ehrmann, Head of Pacific & Emerging Markets, Gartmore Investment Management Plc.

Product details

  • Hardcover: 312 pages
  • Publisher: John Wiley & Sons; 1 edition (23 Sep 2005)
  • Language: English
  • ISBN-10: 0470018690
  • ISBN-13: 978-0470018699
  • Product Dimensions: 24 x 16 x 2 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 1,279,169 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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"This authoritative volume ′oozes′ impact. It is informative, highly relevant, excellently presented...required reading for anyone associated with business" (Economic Outlook & Business Review, Nov/Dec 05)

From the Inside Flap

The Rise of the Chinese Consumer China’s high GDP growth and rapid urbanisation process involves unprecedented larger numbers of people. Already China’s urban population exceeds 450 mn people and the size of the urban population is rising by around 13 mn people per annum (equal to the entire population of Greece). By 2024 China will on current trends have an urban population of 750 mn people larger than that of the US and Europe combined. Yet structural under valuation of the currency disguises the true size of Chinese consumption demand. Currently, China accounts for only 3% of world consumption spending in US$ terms or around 9% of consumption spending in the USA – the world′s largest economy. In US$ terms China is currently only the world’s 7th largest market for global consumer companies. China currently accounts for 40% of world cement demand and 33% of world rice consumption. In addition it is already the world′s largest market by units sold for steel, televisions, and mobile phone handsets.

Inside This Book (Learn More)
First Sentence
Current US dollar comparisons lead, in our view, to significant understatement of the true size of China's economy. Read the first page
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5.0 out of 5 stars The basics on China. 4 July 2011
Format:Hardcover|Verified Purchase
If you offer to do an essay to help out a university student close to your heart, like I did, shame to say, this is what you need statistics-wise on China. You learn a lot about loved and treasured brands we buy ourselves, as well! Go on, buy a copy. You're worth it!
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