Retail
Rev
olu
tion
A growing middle class is transforming
China's once booming luxury market.
By Steve Kaufman, Contributing Writer
Communist China is fast becoming the world's
largest capitalist country. The Economist
Intelligence Unit (EIU) Ltd., the research and
analysis arm of The Economist Group (London),
recently forecast that China will overtake the U.S.
In the four years between 2008 and 2012, the total retail
sales of consumer goods in China doubled to ¥20.7 trillion
($3.3 trillion).
China already has nearly 3000 shopping centers, with
an aggregate total commercial floor space of nearly 2 trillion square feet. But developers continue to build: 800 new
18 AUGUST 2014 | vmsd.com
TO N Y V 3 1 1 2 , S H U T T E R STO CK . CO M
as the world's largest retail market by 2016.
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Table of Contents for the Digital Edition of VMSD - August 2014