Do not expect the U.S. consumer. Over the past few decades, the bad-mouthing the United States and predicted that the world economy, which has been a response to a ready-made argument. Facts have proved that the spending capacity of ordinary Americans than any person has become more predictable and indomitable. 1960s to the different periods, this ability to domestic and international enterprises to provide a huge market.

But many people believe that this day is over. With assets of the situation stretched, housing values decline, the wage increase was minimal and the rising price of gasoline and swallowed a lot of food, the legendary U.S. consumer power certainly has been weakened, even if not weak to be of negligible level.

But in a year of the Beijing Olympics, the weak U.S. consumer long-term economic stagnation will lead to the assumption that consumption may be due to the rookie stage and be overthrown. The global economic situation over the past rely on the support of U.S. consumers, but now, it will depend on the Chinese people.

In the United States and Europe, the public discussion of a central topic is that China's low-cost manufacturers to rob the workers jobs in developed countries and oppose the trade legislation so much of the market. But the reality is that the Chinese consumer market is also rising, they spend no less than the enthusiasm of the Americans.

Over the past two years, China's per capita GDP has more than 2,000 U.S. dollars, is now close to 2,500 U.S. dollars. Chinese consumers on the distribution of the structure, is a 250 million affluent and increasingly affluent urban residents, and the other is the first living in rural areas 500000000 -6 billion people (some of their average daily income of more than one U.S. dollars, and some May be less.) While hundreds of millions more Chinese people in the middle levels.

In income distribution in the top of the 250 million Chinese people in fact per capita income has nearly 10,000 U.S. dollars. If the general cost of living level, they have huge disposable income.

And their passion for consumption. China's personal savings rate of over 40 percent of the world are high. But this is not the Chinese people's consumption is very cautious, but can be rich enough to buy things, lack of investment channels, worried about health care costs, and other facts. Moreover, this is changing. According to McKinsey (McKinsey) by the recent survey shows that Chinese people on average weekly shopping time for 9.8 hours. Americans are 3.6 hours. 41 percent of Chinese people believe that shopping is the best way of leisure.

China's current total expenditure of consumers in about 2 trillion U.S. dollars, less than one-fifth of the United States. But the gap is narrowing: Americans spending growth to 2 percent, and the Chinese people is 20 percent. For many global companies, China's consumer is the only business to help them stop the decline in strength.

To operate its KFC (Kentucky Fried Chicken) and Pizza Hut (Pizza Hut) of Yum (Yum Brands) as an example. In the United States and Germany, the company basically no growth, profits are very low. In China, KFC has been well received, and every year more than 25 percent growth. KFC in China has 2,000 restaurants in the brand's global business accounts for only a small percentage, but in Louisville, Kentucky 20% of the total profits from China.

Several hundred live weariness of the U.S. companies and multinational companies in China are the brightest spot, KFC is one of them. Procter & Gamble (Proctor & Gamble) and Yulan You (Oil of Olay) in China is also a newborn. Nike (Nike) has long been a crush of young Chinese brands. Caterpillar (Caterpillar) domestic business because of shrinking U.S. housing construction market and weak performance of its combine harvesters and excavators in the rapid industrialization of China is in short supply. United Technologies (United Technologies)'s Otis Elevator (Otis Elevators) Jiezhong replaced by high-rise buildings in China has accumulated a thick layer of orders envied.

Faced with the growing decline of the Japanese market, Laotailongzhong the European market and unpredictable American market, LVMH (Louis Vuitton), Versace (Versace), Coach and other luxury brands from China where the rich who find the relay. Do not forget the gaming industry. Macao has recently been over Las Vegas and become the planet's most profitable gambling destination. From a country's national interest in gambling can be judged on their general desire to spend money.

China's exports to the developed countries triggered a controversy, but now China's imports has been basically to catch up with 1.2 trillion U.S. dollars of exports and imports from the United States jumped in quickly. This does not include Chinese consumers purchased from the United States and other foreign companies in China subsidiary products.

China's current gross domestic product in around 4 trillion U.S. dollars in the global total in less than nine percent. But many people may say, if we consider the purchasing power of China, the actual ratio should be much higher than this figure. In any case, China's growing wealth (although the existence of imbalance) It is also the Chinese people on the eve of the Olympic Games is full of optimism and the strong patriotic sentiments of one of the reasons why.

Chinese consumers also can prevent hundreds of global companies into the disaster only a force. While some U.S. companies have layoffs in the country, some jobs will be outsourced to Chinese enterprises, but if the losses do not make money or basic, it will only have to cut more jobs. Caterpillar factory in the United States still in operation, because the production of some products also need to supply the Chinese market.

This phenomenon is continuing now, unlike the United States of consumption growth is already obsolete. In view of the long-term growth potential of China's undervalued, may be China's imports of foreign goods than we imagine to be much faster.

Indeed, the Chinese people love China-made brands, such as Li Ning (Li Ning) sports apparel and Lenovo (Lenovo) computer (Lenovo bought IBM's personal computer business indicates a wave of the future - the trend of the U.S. consumer business). However, their foreign brands is Rujisike shows that the wealth of their growth and the deepening of the contemporary. This thirst is far from satisfied.

It is true that the rapid growth of China paid a price for the environment, the rise in the international community has triggered a tense relationship, but full of controversy about this session of the Olympic Games, we can ask the following question: Is there any country in which the rise of the process No cause of concern in other countries » If China still insisted on the communistideology, are still in poverty, the world would be better if more » After all, economic rights are humanrights an important component.

In view of the next few years the United States and Europe in facing the challenges of growth, without the support of Chinese consumers, the situation would look even worse.

Quoting from [nevergay]:

Do not expect the U.S. consumer. Over the past few decades, the bad-mouthing the United States and predicted that the world economy, which has been a response to a ready-made argument. Facts have proved that the spending capacity of ordinary Americans than any person has become more predictable and indomitable. 1960s to the different periods, this ability to domestic and international enterprises to provide a huge market.

But many people believe that this day is over. With assets of the situation stretched, housing values decline, the wage increase was minimal and the rising price of

China is a huge market for both sellers and buyers on the globe...it seems you know China market quite well.

Welcome to China!

Good article!

the Chinese efficient (read: stingy) saving habits (read: to the last dime) has made them the biggest potential buyers (read: market) in the world. Eventhough the Chinese government has to feed billions of people, they still managed to be the #1 richest country in the world in terms of forex reserve, Japan the second, and it's larger than those of G7 combined (Japan is member of G7 - and her ancestor came from China thousands of years ago, check out the Kanji writing )

Quoting from [nevergay]:

,very good