Recent PDF report from Amcham Shanghai highlights the present China opportunity.
China has at least 80 Million people who are middle class by American standards, but this quote is the real eye opener.
This new environment also offers tremendous opportunity to tap into China’s fast developing domestic market, which according to McKinsey & Co. is expected to grow 9 percent each year through 2030.
Consumption is expected to triple by 2030.
How much growth do we expect in the US over the next 17 years? How many middle class people will there be in China in 2030?
The report also indicates that companies that are just here for cost reasons are starting to leave. Companies that are here to grab the market are expanding.
China is a shockingly active growth market. With wisdom, many companies can do very well here.