PDO Special English
In regard to the economic transition, are there any experiences that China can borrow from the world's most developed economy — the United States? John Wilson, lead economist at the World Bank, spoke to PDO Biz about his takes on this question.
The hidden potential of the 1.3 billion Chinese consumers, once unleashed, will make China the world's largest consumer market and the top export destination for other major economies. The question here is, how long will it take for China to finish the transition to a consumer society?
Former chairman of Morgan Stanley Asia and current senior fellow at Yale University Stephen Roach believes that the potential of China's consumer market is huge, and it will outstrip the growth of any consumer market in the world, but why?
China's transition to a consumption-led economy is good news for foreign businesses, since the hidden potential of the 1.3 billion Chinese consumers, once unleashed, will make China the largest consumer market in the world. Some foreign companies have already seen the potential of the Chinese market.
Doug Guthrie, former dean of the School of Business and current tenured professor of International Business at The George Washington University, believes that in order to make the successful transition to a consumption-led economy, China has some challenges to overcome.
The hidden potential of the 1.3 billion Chinese consumers, once unleashed, will make China the world's largest consumer market and the top export destination for other major economies. The question here is, what steps are needed to build a modern consumer society in China?
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