China’s Urbanization and the World Economy
Show Less

China’s Urbanization and the World Economy

Fan Zhang

This innovative book places China’s urbanization within a broader global context, including a detailed estimate of China’s total domestic market and its impact on the world economy.
Buy Book in Print
Show Summary Details

Chapter 12: Consumer market

Fan Zhang

Extract

In the not so distant future, the market will be more concerned about what plays in Beijing than what plays in Peoria. Business executives at the biggest multinationals will be more interested in what Chinese consumers are buying than what their counterparts in an aging and - currently declining - America are buying. (Kenneth Rapoza 2011) The increase in China's consumer market is a possible result of the second stage of China's urbanization. This is closely correlated with the rise in the share of the grassroots society in national income, and depends on the reform of income distribution system. China has had a social structure of strong government and a weak society since the time of the Qin dynasty. The economic reform since 1978 did not change this pattern much. As a result of rapid economic development, great wealth came into the pocket of the government and large businesses. The leadership has realized this and plans to reform the income distribution system. The development of China's consumer market will be heavily dependent on this reform. If China successfully develops its consumer market, the impact will be worldwide. The large scale of China's domestic market will change the demand structure of the world products and services market and reallocate the world's resources, including natural resources, capital, labor and technology.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.