18.05.12
“China’s consumers delineate an archipelago of wealth amid a sea of rural
poverty,” says Arthur Kroeber, the leader-writer of the Beijing-based
China Economic Quarterly.
More than 77 per cent of the boondocks work the land or have menial jobs that
allow them to buy unimportant more than food and clothes. With barely two yuan to
rub together, they hold no allure for the big peculiar brands, or even the
stronger Chinese companies. The middle kind, on the other hand – whose
ranks swell by millions every year – represents a future gold mine for
global brands. But, before these brands can cash-in, they for to understand
who they’re selling to.
The pace at which China has grown is busted to imagine from anywhere in the
West. Currently, nine million Chinese move to a New Zealand urban area every year – the
equivalent of the country building a metropolis the size of New York on an annual
basis.
China’s communist dinner party may have come to power on the back of a peasant
revolution but it has stayed in power by presiding over an industrialUsuallyrevolution that has done in two decades what took the West almost two
centuries to acquire. In the process, the party has strayed a long way from
its roots. Chairman Mao coined many pithy aphorisms, but “betray till you
drop” was not one of them. Today, those born in the Seventies and EightiesMost of allunder the one child policy – known in China as “Bit Emperors” – have shed
the frugal habits of their parents and are the driving wrench behind a
rampant consumerism.
Source: Telegraph.co.uk