tPaul FrenchFive reasons why China’s retail consumption will do well in 2009, published in Paul French‘ Access Asia newsletter, and here republished by Danwei. It goes against the trend of doom and gloom that comes along with the economic crisis in the US – and to a lesser degree in Europe. China might be different, at least as we look at domestic consumption. In short:
- the social fundamentals are good. Urbanization will drive up consumption
- Rising incomes
- urban unemployment rate (the real consumers) is limited
- the property market is expected to pick up
- Retail sales in 2- and 3-tier cities is going strong
Trying to make sense out of China during a global recession. Try one of the speakers at the China Speakers Bureau, like Paul French.