Read the latest from Dr. Dan Steinbock, Research Director with the ICA Institute:
The Peaceful Rise of China’s Consumer Markets released by the National Interest
It is often said that America celebrates its independence with barbeques and fireworks, whereas China commemorates its holiday with military might. In fact, October 1 is no longer that different from July 4… In China, it is not the modernization of the People’s Liberation Army that drives the economy—the private sector is the engine of economic expansion . With economic development, rising levels of income per capita, cars and retail tend to herald the coming of consumer mass markets… The Chinese dream is about prosperity and the shopping malls of Singapore and Hong Kong. And that says a lot about Beijing’s future.
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