Because of the recession, we are no longer gobbling up China's exports at the pace we were previously doing. China is planning to open 150,000 stores in the rural countryside this year to offer its 700 million rural residents the opportunity to spend more money. According to the China National Statistics Bureau, here is how many Chinese own various goods, as measured in goods per 100 households in the year 2007:
Bicycles 97.7
Color TVs 94.4
Mobile phones 77.8
Washing machines 45.9
Refrigerators 26.1
Computers 3.7
1 comment:
They've certainly got the clientele...but can those who want afford it?
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