Changing China

Two recent headlines from World Trade taken together highlight how fast China is changing. The first is no surprise: Coach Hoping to Increase China Sales Tenfold. But the second is all the more telling: Weakening Exports Slow China's Economy. As I read it -- and as I've seen it on the ground, albeit not as much as I would like -- China is an economy in transition. Sometime in the next decade or two, internal consumption and a rising middle class -- and hopefully a rising lower middle class if the government gets it right -- will transform China into a global consumer. The export market will always be there. But I reckon that within my parents' lifetime, China will look much more like Korea from an export perspective than where it is today. Granted, there will be pain along the way, as the recent export growth decline is no doubt showing, but long-term, China will be a very different economic place.

- Jason Busch

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