Global Brands Depend On Chinese Consumption Tastes.

Karl Gus, a professor of modern Chinese history at University of Oxford, was interviewed recently.

Q: there are signs that China's economy is not synchronized with consumption growth.

Is China really changing to a "consumer centric" society?

Answer: there is no doubt about it.

Brand is the second important evidence to pform consumerism.

Not long ago, China rarely saw national brands and international.

Hundreds of millions of Chinese are still in poverty, but hundreds of millions of people are entering the middle class. They have bigger houses, the latest electrical appliances, private cars and holidays.

These Chinese people began to lead a similar lifestyle of consumption in other countries.

No matter how large the Chinese middle class is, it will have a huge impact even on today's scale.

Sooner or later, global products and brands will be shaped by the tastes of Chinese consumers.

Q: which global brands benefit most from China's consumption boom?

A: global brands invest heavily in China.

Luxury brands and cars are the most obvious beneficiaries and will continue to benefit.

Q: why has there not yet been a big local brand in China?

A: I am confident that China will do its best to create an internationally competitive national brand.

The Chinese government sees it as the most important part of the strategy of pforming labor and energy intensive economies into a high value-added service economy.

The creation and dissemination of such brands is one of the reasons why I think Chinese consumerism will change everything.

If they cannot build local brands, they will take the way of purchase, just like mergers and acquisitions.