Wednesday, January 03, 2018
China no longer the world's factory
ANBOUND
No longer the world's factory, China is fast becoming the world’s consumer. On December 28, 2017, Bloomberg published an article with the title "Chinese Consumers Now Rule the World. Get Used to It", mentioning that the nature of China's consumption has changed, which is no longer centered on necessities; rather more and more are spent on movies, tourism and health care. The article mentions that as China's expansion relies more on consumption; its growth will be more and more internally driven.