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China's consumer has increased consumption further
And consumer spending now exceeds the US'.
It has been noted that China's consumer is smaller but has increased consumption more, and that China's increase in consumer spending has now exceeded the US'.
According to a report from Standard Chartered, while US consumption still has the biggest influence on Asia's growth, China's consumer is growing fast.
It also found that consumption in China is more correlated than investment in China with Asia's growth.
The report said that with China aiming to boost consumption, exporters will need to adjust their strategies to meet this new demand.
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