CHINA on track to skyrocket, McKinsey & Co. to reach $11 Trillion

Lorre White reports: “WHAT’S NEXT FOR CHINA?” China is on track to getting richer, and discretionary spending will continue to skyrocket. The country’s GDP is currently around $6 trillion. Within the next 7 years, McKinsey & Co. suspects it will reach $11 trillion or – as they say – the equivalent of two Germanys. As people get wealthier, discretionary spending increases. Service-related industries are expected to benefit the most. In particular, “sectors such as leisure (defined as … [Read more...]

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