Chinese now buying as much as Americans
The mighty force of consumerism has taken hold in China. In 2018, retail sales in China are expected to equal or surpass sales in the united states for the first time, another definitive marker in China’s rise to economic super power status. The growth of China’s domestic retail market is luring everyone from automakers to makeup companies that want to cash in on the country’s growing middle class.
Retail sales in china are on track to hit just over $5.8 trillion this year, according to Muzuho, a Japanese bank, it’s a stunning rise from a decade ago, when sales in China were a quarter of those in the United States.
The Virginian Pilot