Not exact matches
American companies were blessed with the world's
wealthiest and most voracious
consumers just outside their doors.
This group of super spenders is expected to see its population double over the next five years to 100 million households, and as an economic force they are poised to eclipse the impact of rising but less -
wealthy consumers: Their consumption is currently growing at 17 percent a year, compared to
just 5 percent among emerging - middle - class and middle - class
consumers.
Charlie Chen, head of the investment bank's China
consumer research, said younger and more
wealthy Chinese are more discerning than ever, and
just because a brand is from offshore it does not mean they will buy it.
The textile and clothing industries are important components of economic development, and
consumers who demand safe conditions and fair wages for farmers and industrial workers could help ensure that such development benefits everyone, not
just wealthy factory owners.