As reported by Business Times.
Spending power in the world's most populous nation may just be revving up.
China's smaller cities will fuel a US$9.7 trillion consumption market by 2030, according to Morgan Stanley. That excludes megacities such as Beijing, Shanghai, Guangzhou and Shenzhen as well as 26 so-called tier-2 cities such as Tianjin and Xian. To put that spending power in perspective, it's more than double the current size of Japan's economy and not far behind China's annual output ... Read full article
