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Now they just have to consume as much as America, and we'll see.
by downrightmike 6y ago
Now they just have to consume as much as America, and we'll see.
- rmah 6y agoThey do. China now has a consumer market (measured through retail sales volume) that is just a bit larger than the USA. In 2019, China had apx $6.4T in retail sales vs the US at $6.0T. Retail sales for 2020 are expected to be flat in China and down sharply in the USA. That's right, the largest consumer nation in the world is now China. The Chinese certainly don't consume as much per person as Americans... but they probably wish they could.
- cambalache 6y agoDont need to. A China consuming half as much as America (per capita) would possibly mean a 2X economy.