Chinese attitudes dating
Although the explosive growth of the last three decades is predicted to slow, domestic consumption and discretionary spending is expected to rise.These trends, along with rapid urbanization, a burgeoning middle class, and a younger generation of sophisticated shoppers, signals exciting opportunities for China and the global gem and jewelry industry.A 7.6% predicted growth may seem low compared to the years of double-digit growth over the past three decades, but it is still quite enviable when compared to growth rates in the U. The predicted growth rate is certainly very respectable for the world’s second-largest economy, with a GDP over trillion (table 2).Some analysts predict that China will overtake the U. as the world’s leading economy sometime between 20 (Shamim, 2010), while the International Monetary Fund (IMF) has predicted this will happen before 2020. A major factor behind this has been China’s surge in domestic consumption (Chen, 2013). First-tier cities like Guangzhou have been the driving force behind China’s economic growth. Chinese cities are generally divided into four tiers.
This jewelry factory uses modern manufacturing techniques such as wax models and casting. The advantage of combining low-cost labor and free trade was heightened by the formation of special economic zones (SEZs) in mainland China shortly after the country opened up for trade in 1978.
They were transferred to China in 19, respectively, under the “one China, two systems” policy.
By virtue of their SAR status, Hong Kong and Macau enjoy a high degree of autonomy.
article, “The Chinese Century,” summed up the widespread sentiment that China will become the world’s leading economic power and most influential country early in this century (Fishman, 2004).
The same holds true for the gem and jewelry industry: For years a global manufacturing hub, China is emerging as the strongest consumer market for luxury products such as jewelry.
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Chinese consumers are becoming more knowledgeable about gemstones and jewelry and more astute in their purchases.