The Consumer is the Game Changer

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China is seeking to move their economy to more of a domestic oriented consumption model as their export advantage wanes. Currently only about 45 percent of their economy is driven by domestic consumption while the U.S. economy is 70 percent dependent on the consumer. If yesterday’s Singles Day sales are any indication, China is on the right track. Singles Day is a shopping holiday in China that takes place every 11/11. Yesterday the sales of its largest ecommerce firm alone exceeded $9 billion. Compare this with 2013 U.S. Cyber Monday sales – the sales total for all firms was a mere $2.3 billion. The consumer is the game changer when it comes to Global GDP growth. Please follow the global consumer on page 12 of the Global Perspectives book.

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