Perhaps you have been reading the reports on the China economic post Covid recovery. Maybe you have been wondering if you should be entering the China market. However you might be skeptical regarding the figures. Can they really be trusted? Is China really going to move ahead? We understand, it is natural, so we suggest you take a look at this article courtesy of Caixin for a closer, objective look.
They investigate a story from Bloomberg claiming China’s surging economy is set to surge past 56 other nations in in the world’s per-capita income rankings. The International Monetary Fund projects that by 2025, that just a tad over 4 years. Bloomberg estates by then China will rank 70th in the world on the metric, putting it close to joining the richest one-third of nations.
If this is correct, China will have a per-capita GDP, adjusted for purchasing power, equal to $25,307 in 2025. Moreover the BRIC countries combined could become collectively bigger than the G-7 countries” in the 2030s. Much of this will be driven by China.
However, China is not alone in the upwardly mobile pack. Other Asian and East European countries are also predicted to leap forward in the rankings. Whilst developing Asia countries overall are expected to see a 6 fold per-capita rise, stand out performances are expected from Armenia, Georgia, Vietnam and Bangladesh
Whilst most of the G-7 countries, excluding Italy, will post strong recoveries post Covid, companies in China are not only more successful at recouping output lost to Covid-19, but also anticipate making the fastest full recovery said Chris Williamson, an economist at IHS Markit.
Please read more about “China to Leapfrog 56 Nations During Quarter-Century Income Surge” on Caixin. To learn how your brand can flourish in China, please chat with Everlyne, below.
Hello, I’m Everlyne Yu, founder and CEO of Uengager and WPBeijing Marketing Studio 2003.
I have a wealth of knowledge and experience in the China market and have been privileged to work with many international clients, such as VW and their release of their Bora and the extremely successful CC as well as a long term, ongoing relationship with Sodexo.
I am happy to chat and discuss any questions, no matter how small or trivial you may think. Probably someone has already asked the same question- many times!
In China Marketing- there is no such thing as a silly question.
To see how your brand can flourish in China, please talk to Everlyne now, or understand more about me.