China Versus the USA: A Consumer Market Comparison

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Comparing the US and Chinese consumer markets is like comparing spenders and savers, as consumer spending accounts for a far greater share of GDP in the USA, the world’s biggest consumer market. However, China’s spending pattern is gradually shifting towards more discretionary spending. As Chinese high income earners are significantly younger, the Chinese consumer market has greater potential for businesses in such sectors as technology, education, luxury goods and household goods and services.