China to become world's biggest consumer market within 10 yrs - survey

News Type: Event — Seeded on Tue Apr 3, 2007 8:34 AM EDT

Article Source: Forbes

business, china, world, growth, consumers

China is considered as the market with the greatest prospects for economic growth this year and could become the world's top consumer market within 10 years, a UPS survey said.

According to the UPS (nyse: UPS - news - people ) Asia Business Monitor 2007, 92 pct of small- and medium-size enterprise (SME) leaders across the Asia-Pacific region rate China as the market with the greatest prospects of economic growth in 2007.

Some 57 pct expect it to become the world's biggest consumer market within 10 years.

However, China's top trading partners - Japan, Korea, Hong Kong and Taiwan are the least optimistic about China's ability to achieve the position as the world's top consumer market, the survey showed.

Published to:

Oluseye's Column, All of Newsvine
Groups: Dismal Scientists, Worldviews
Regions: none

What's this?

Who's leading the conversation?

This visualization below allows you to see the impact that each user has on the current conversation. The top row contains the group of users who have had the most impact, the 2nd row the group of users who have had the 2nd most impact (et cetera). Users with similar impact are grouped together, and the average score of the group is shown to the left of the group. The author of the article is also shown on the left, in their corresponding group. Each user's score is based on the number of comments the user has made plus the number of votes their comments have received. The scores are calculated relative one another, so while their absolute value is not particularly important, their relative difference does indicate a larger difference in impact on the conversation.

1.1

{"commentId":620413,"authorDomain":"ddlyassassn"}

Laurinas

China is a bubble waiting to burst. Once America goes into recession, watch the effect on other nations.

{"commentId":620413,"threadId":"90501","contentId":"645510","authorDomain":"ddlyassassn"}

#1 - Tue Apr 3, 2007 9:30 AM EDT

{"commentId":620749,"authorDomain":"200MilesUp"}

Oluseye

That's yesterday's conventional wisdom. Today's world economy depends much less on American consumers to buy. The entire world economy is doing very well, apart from Europe much better than America. America's recession would have an impact, but it will not be half as severe as 20 years ago.

In fact, that's the significance of this piece of news. China is a huge economy already. Once it becomes the world's main cinsumer, the world would need America dramatically less. The process towards China being the main consumer nation would not happen one night in 2010, it has started already.

{"commentId":620749,"threadId":"90501","contentId":"645510","authorDomain":"200MilesUp"}

1 vote

#1.1 - Tue Apr 3, 2007 12:15 PM EDT

{"canLink":false,"threadId":"90501","isPrivate":false}

OLUSEYE

Backyard

China to become world's biggest consumer market within 10 yrs - survey

Published to:

FUN STUFF:

COMPANY STUFF:

LEGAL STUFF: