China has 2nd largest consumer market in the world

[northeast]

Cheerlead which countries.?? Look at the diagram you yourself posted in the article and compare a small island like Britain with barely 50 million people(i.e over 15 times less than China. lol), far smaller land size(over 9 times smaller than China) with far less natural resources and yet China has just over twice our consumer market. LOOL That shouldn't even be a matter of pride for you to be honest, but as my friend @AndrewJin said a shame. It reminds me of Indians having almost a trillion dollar less in nominal GDP than we do, and yet claiming they are more advanced/powerful than Britain just because of their size/population and talking about how irrelevant we are while claiming how valuable they are in the world scene. etc. lol

As i said, China still has a long way to go before start boasting. Nothing wrong in what i said, even your fellow country men agreed with me, yet seems you being the most ultra nationalist Chinese here take things too personally.

Don't get me wrong though, as many members here know fully well, I always give credit when due, But on this one, there is no credit to be given to be honest.

US and UK export their currecy to world.We export industrial production.We won't be able to live on exporting our currency any time soon.It's something like difference between how a bank and a factory make money.It's hard to say witch one is more stable.Bank probably can make more money than a factory，but I think it's meaningless to compare those difference sectors，after all，You do what you can to make money.

 

[Hamartia Antidote]

Well Procter & Gamble certainly thinks China is a big consumer market.

How Did P&G Reach the Top in China? | Business | tutor2u

"In early 2013 the BBC asked global brand research company Millward Brown to identify the 20 most powerful foreign brands in China: the ones that have gone in and succeeded where many others have failed.
When the results came back one noticeable feature was that one company - Procter and Gamble ("P&G") - had three of the top 5 brands!

Of course you might expect P&G to be successful in China. After all, P&G is the world's largest maker of household and personal-care products. At the start of this decade P&G had set itself an ambitious corporate objective. It aimed to add 1 billion customers by 2015 (a 25% increase) and P&G were clear that emerging markets would be crucial in achieving that goal. Of all the emerging markets, P&G is strongest in China, which by 2012 had become its second-biggest national market with around 6% of the firm's worldwide sales.

So, from a modest start of just $50 million total sales in 1991, P&G reached a milestone of $5bn revenues in China in 2009 and had become the largest consumer products producer there."

 

[northeast]

the US ecocomy is hollowed out as manufacturing sector disappearing. what you get is an unbalanced economy. what are those so called service sector jobs? thats right , you work as shop assistant, waiting on tables, burger flippers at kfc, etc. very few people can work high end jobs like law firms, accountant etc. the focus on services has already ruined US economy.

Adding some sweat shop won’t help the economy of US either，You look down those service jobs，but in fact working in a factory earn less money and is being looked down more badly in developed countries cuz there is no profit and It's a waste of time to make a shoe or a panty that every poor country can make in a developed country.

 

[CHN Bamboo]

Maybe we save a lot.
At least my family is.

 

[CHN Bamboo]

This data is wrong.
I remember sth that I have read in my school board.
The main idea is that Chinese consumption is only half of total GDP,and developed country usually take up 70%
10.4/2=5.2
And car sell statistic last year↓
23491893 CHINA
16927967 America
5556400 Japan
Sorry,I cannot upload the picture.Sth I cannot understand happened..

 

[Edison Chen]

To be honest . I do not believe the data of average income.

In fact but the increasing market share of Chinese on those luxurious good more or less tells you the change of Chinese taste.

Yes, guys. This number applies only to part of people, say employees with a fixed salary from a certain company or government (企，事业，机关单位) . Also, it's monetary salary, many state owned companies have benefits like gift card or reimbursement to a limited amount. And I believe this average income doesn't include capital gain from stock market or other financial products. There are also many people who run small business or have self-employment, actually they can earn times higher than those company staff, and they also don't have to pay taxes...So the real consumption power of Chinese people is underrated seriously, but compared to US people who prefer investing in capital market, Chinese prefer deposit or real property to feel comfortable even when they are rich and consume a lot.

 

[Götterdämmerung]

Dude, I wonder why you did not quote the line IMMEDIATELY BEFORE the lines you quote me??

I wrote


I put it in bolt and and blown it to 6 so your lazy eyes can see.

IS GERMANY MANUFACTURE BASED ECONOMY?

With almost 70% service based according to IMF, explain to me how Germany is a Manufacturer Based economy?

Smarty, our economy is (hardware) export driven, and manufacturing at 30% of our economy, it's 10% higher than the US.

 

[jhungary]

Smarty, our economy is (hardware) export driven, and manufacturing at 30% of our economy, it's 10% higher than the US.

lol, so the 30% of manufacturer is driving the German economy, but not the 68% in service industry. Okay, I got it now.

By the way, according to WB, Germany have a 22% of added on GDP on manufacturing industry. But hey, it does not matter, it matters is what those 22% is the heart of German GDP, forget about the other 78%, those 22%may are the gem, am I right??

maybe you need to learn what's the word "Driven" mean?

 

[21 Dec 2012]

lol, so the 30% of manufacturer is driving the German economy, but not the 68% in service industry. Okay, I got it now.

By the way, according to WB, Germany have a 22% of added on GDP on manufacturing industry. But hey, it does not matter, it matters is what those 22% is the heart of German GDP, forget about the other 78%, those 22% are the gem, am I right??

Export is driving German economy. And Industrial products are the mainstay of its exports.

But you are right on one count. Germany's currency is undervalued by association to other Euro-countries, as many of them are net-importers/borrowers, not to mention their imports from Germany itself.

 

[jhungary]

Export is driving German economy. And Industrial products are the mainstay of its exports.

But you are right on one count. Germany's currency is undervalued by association to other Euro-countries, as many of them are net-importers/borrowers, not to mention their imports from Germany itself.

Well, it is and it isn't.

Service base economy is Germany are highly saturated, the economy growth (not the economy) is driven by export based manufacturer, the driving train of German economy is service industry (My point) but the economy GROWTH is driven by export, as that is the difference.

In fact, this is actually the same across any developed world, as that sector, usually the more resilience and can go up and down depending on competition, but then again, I am not talking about Economy Growth, I am talking about economy as a whole, as per my post in #7

 

[northeast]

lol, so the 30% of manufacturer is driving the German economy, but not the 68% in service industry. Okay, I got it now.

By the way, according to WB, Germany have a 22% of added on GDP on manufacturing industry. But hey, it does not matter, it matters is what those 22% is the heart of German GDP, forget about the other 78%, those 22%may are the gem, am I right??

maybe you need to learn what's the word "Driven" mean?

Industry is the core of Germany's economy，I thought everyone knows.Percentage doesn't matter that much.Countries need to bring more foreign money to maintain the value of its currency.For Germany，it mainly comes from export of industrial products. Deutsch mark was one of the most strong currencies before it joined Euro zone.With a strong high end industry export，They have enjoyed a strong Deutsch mark.that brings high GDP per capital.In this aspect，manufacturer is the most important driver of Germany's economy.Joining EU is really economically bad for Germany.

 

[jhungary]

Industry is the core of German's economy，I thought everyone knows.percentage doesn't matter that much.Countries need to bring more foreign money to maintain the value of its currency.For German，it mainly come from export of industrial products. Deutsch mark was one of the most strong currency before it joined Euro zone.With a strong high end industry export，They have enjoyed a strong Deutsch mark.that brings high GDP per capital.In this aspect，manufacturer is the most important driver of German's economy.Joining EU is really economically bad for German.

Read my post of reply to another member above you, what you are saying is not what I was talking about

 

[northeast]

Read my post of reply to another member above you, what you are saying is not what I was talking about

Well，if you just want to compare the percentage of manufacturing industy and service sector，then of course both economy and economy growth are mainly driven by service sector in Germany or most of countries in this planet for sure.But that doesn't hold much meaning.