China to Overtake U.S. as World’s Largest Retail Market in 2020
LONDON — China’s retail market is expected to overtake the U.S. and become the world’s largest one as early as this year, eMarketer finds.
One recording-breaking sales figure after another, China’s e-commerce battle between JD.com, Alibaba and Pinduoduo, and the nationwide implementation of digital innovations, are helping the country’s retail market bounce back much quicker than the rest of the world’s, amid COVID-19 recovery. Meanwhile, the U.S. economy and its rate of consumption are expected to be impacted more negatively than China’s.
The market research company projects that China will produce $5.072 trillion in retail sales in 2020, despite a 4 percent decline from 2019, compared with $4.894 trillion in the U.S., as the American market will shrink by an even larger amount. EMarketer previously predicted China’s retail market will surpass the U.S. in 2021.
“China is amid the final stages of an economic maturation that precludes the ultra-high growth rates of years past, regardless of politics and policies. Its potential growth rates for consumption and retail sales are still higher than what the U.S. and other major markets will see in pandemic-ravaged 2020. That leaves China in a position to reclaim some degree of standout performance once the pandemic subsides,” eMarketer said.
Ethan Cramer-Flood, a forecasting writer at eMarketer, added that international factors — such as the protests in Hong Kong, territorial disputes with India and South East Asia countries, and the trade war with the U.S. — could impede China’s recovery.
eMarketer的预测作者Ethan crmer - flood补充说，国际因素——比如与印度和东南亚国家的领土争端，以及与美国的贸易战——可能会阻碍中国的复苏。
“China has an economy that is deeply reliant on trade, globalization, cross-border investment and the performance of other major economies around the world. Regardless of how well the country’s system deals with the virus, good economic news may well be a long way off if the rest of the world slips into long-term recession,” he said.
Short-sighted and long impact on US investors! China is the largest emerging market! You can buy Chinese company stock, $1 may become $1000 or $10000. For example Softbank invested $20 million in Alibaba back in 2000, in 2019 it became over $11 billion in pre-tax profits!
1.4 billion people, it’s only surprising if they are not the biggest market.
Trump is winning again!!!!
特朗普又赢了! ! ! !
American and Chinese industrial capacity can bring a world out of recession
Time to Bring out my Credit Cards and max them out. For America!
wabiding Lives Matter
$5.07 trillion for China vs. 4.9 trillion for the USA. So, on a PER CAPITA basis, China’s retail in 2020 will be approximately 25% of the USA retail sales...
Buy American made products. Bring jobs back with incentives. Only if those 2 are met, we will be number one in no time.
At almost 5 times our population - it’s only common sense -
no worries. Chinese only know work work work. We have trump, trumpsters, protest, riots, BLM, and much more!!
not a trumper, trump has done some good and bad, but trump is right to wage a trade war on china, it's protectionist policies gives it an unfair advantage, requiring investors to take on chinese partners and then requiring technology transfers (so they can copy illegally) is unfair
I don't think so. Do you really think retail stores are going to buy " made in China" anymore? I work in warehouse of a retailer. He has crossed China off as a supplier.
Does that mean they can stop getting the third world equivalent of affirmative action? They are no longer a developing nation and haven't been for years.
Not surprising at all
Sure , With a billion population and the growing middle class . it is only a matter of time before China become the one of the largest consumer market .China's is only the large supply factory is also the large market .
many American company can move their factory to Vietnam or India
but still doesn't want abandon their business foothold they establish in China .
Right now half the stores are closed in China so i don't know how they can say this. i think maybe just more go nment propaganda. In the company I work we are getting no orders and many people have lost their jobs or working reduce hours.
How about per capita? Oh well.
China is going to overtake us in earnest at some point within the following 20 years. And not just in retail, but the entire economy.
GOP for Russia
Great! Europe is no longer our allies have gone toward China, can't expect from a multiple times bankrupt businessman to do any better, I remember in the beginning of his term someone said Trump is going to run US like one of his bankrupt businesses, it has come true!
So what? They have 4 times the population and the average china man is a peasant and would consider the life of a poor American a luxury
Well well I thought we won the trade war.
China is on the rise. America is in decline
The US has a population of 328 millions, 23% of China's 1.4 billions. So I wouldn't be surprised. Once the vaccine is here, the US will take the rein again.
The Chosen One is A Moron