{"id":184485,"date":"2010-01-15T04:54:12","date_gmt":"2010-01-15T09:54:12","guid":{"rendered":"http:\/\/nw0.eu\/2010\/01\/15\/china-consumers-to-overtake-u-s-in-a-decade-credit-suisse.html"},"modified":"2010-01-15T04:54:12","modified_gmt":"2010-01-15T09:54:12","slug":"china-consumers-to-overtake-u-s-in-a-decade-credit-suisse","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/184485","title":{"rendered":"China consumers to overtake U.S. in a decade: Credit Suisse"},"content":{"rendered":"

Reuters<\/a>
\nTuesday , January 12th, 2010<\/span><\/p>\n

Household income in China surged in the last six years,
\nespecially for top earners, putting the country on track to eclipse the
\nUnited States as the biggest consumer market in a decade, Credit Suisse
\nsaid in a report on Tuesday.<\/p>\n

The bank\u2019s survey of 2,700 respondents showed a
\nbig rise in property and car purchases, underscoring why many investors
\nare betting big on a rise in China\u2019s consumer sector.<\/p>\n

\u201cThe next big theme for China in the new decade is the rise of
\nprivate consumption, in our view,\u201d said Dong Tao, China economist
\nwith Credit Suisse in Hong Kong. \u201cIt is likely to provide a badly
\nneeded source of spending for the rest of the world, promoting a global
\nrebalance of trade, consumption and growth.\u201d<\/p>\n

Based on growth in household income and estimates of economic
\ngrowth, he expects the share of China\u2019s private consumption to
\nGDP to reach 23.1 percent in 2020, just surpassing the U.S. ratio at
\n22.9 percent. Critics accuse China of contributing to global economic
\nimbalances by saving too much. However, the amount that Chinese
\nconsumers save relative to household income has dropped to 12 percent
\nin 2009 from 26 percent in 2004.<\/p>\n

Full article here<\/strong><\/a><\/p>\n

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