Middle Class Driven Market Trends in China

The global middle class is the key to Canadianprosperity in the future, and the diversification away from what I would describe as the over-relianceon one market—the U.



If you look at where the wealth is being created,it’s in Asia; and if you look at where in Asia, it’s really the two big countries,India and China; and within that it’s the Chinese middle class which is really out-performingeveryone else in terms of its growth.

My first experience of China was almost 35years ago.

At that time, there was no middle class aswe would recognise today.

To me, the pace of change is incredible inthose 35 years, even year to year.

Now you’ve got all kinds of opportunitiesfor Canadian companies, say, in the wellness and health area.

China is a big consumer of pharmaceuticalsand vitamins and health products, clean water, even cans of air….

There are things that exist now with the middleclass being as large as it is in China.

A lot of our members are now educational institutions,not just universities, but community colleges and high schools.

They are seeing a tremendous growth in inboundChinese students into Canada.

That’s an important way for education serviceproviders, not just the formal institutions, but including companies that might focus oneducation, which could be English or French language training.

That’s one area.

Tourism is hugely important for the Canadianeconomy.

The growth of the world at the margin is happeningout of China.

China is now the largest overseas supplierof tourists to Canada.

The Chinese have specific requirements thatdistinguish them from other overseas guests.

It changes so quickly.

It’s no longer just mass tourism–peopleon big buses stopping.

There are individual tourists who want tohave a unique experience in Canada.

There’s a way to take advantage of it.

The real story for Canada is the growth inthe Chinese middle class.

Source: Youtube