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by Greg Cruey on August 30, 2009
Paul Kedrosky over at Seeking Alpha last week pointed out one of the primary obstacles China faces if it is to continue its transition to a Western-style consumer-oriented economy. China has a consumption gap...
So how much of its GDP does China consumer? 37%.
If China wants to see sustainable growth in the content of a consumer-oriented economy, the national mindset will have to change. It will have to start consuming more of its own wealth...
© Jakob Montrasio
There is non-stop chatter about China's challenge in transitioning from being an investment-led economy to a consumer-driven one, and commensurate consequences for the global economy.The US consumes 71% of of it's GDP. South Africa 68% and the UK 67%. Russia 62% and Canada 60%. India 57%, Japan 55%, Thailand 54%, and South Korea 48%.
So how much of its GDP does China consumer? 37%.
If China wants to see sustainable growth in the content of a consumer-oriented economy, the national mindset will have to change. It will have to start consuming more of its own wealth...
© Jakob Montrasio
Permalink: China's Consumption Gap
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/160614
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