China has gone through the entire spectrum of modern day market evolution in a relatively short period of time – from a Global force single handily holding the fort through the GFC, to becoming the world’s second largest economy, to sending ripples through the global markets causing recessionary fears.
While the market pundits have not left any stone unturned in attempting to assess China’s real growth, to possibly validate or otherwise, China’s middle class overtook the United States to become the largest in the world (approx.109 million). China remains the world’s second largest economy and is still growing faster than any other large economy (bar India).
Even if the movement in the overall population wealth and the middle class stagnates, which seems unlikely, the size and strength is large enough to effect change in consumer behaviour patterns. This represents significant growth and investment opportunities in areas such as tourism, leisure, healthcare, social media, consumption & F&B, which are all growing at an average CAGR of 11% or more.