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• arclein

MGI finds that a comprehensive program of reform would also enrich the global economy with $1.9 trillion a year in net new consumption, boosting China's share of the worldwide total to 13 percent—4 percentage points higher than its share without further effort. China's household income would also be 15% higher than current trends. Higher consumption will make China's growth sustainable. The implied increase in GDP would be 0.8-1.2% over the projected 7.7% from 2010 to 2025.MGI set out a wide range of policies that it said could raise the share of private household consumption to 45-50 percent of gross domestic product by 2025, or 6-11 percentage points more than the rate of 39 percent it is likely to reach on present trends. Consumption made up just 35.3 percent of China's GDP in 2008, according to the National Bureau of Statistics. Japan's consumption share is 55 percent and the United States' is 71 percent, MGI noted in a report.

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