Jerry Webman on China's Long Road to Consumer Dominance

The transcript discusses the potential of the Chinese consumer to drive global demand, comparing it to the US consumer. It highlights the importance of workforce growth and productivity in China and India. The conversation touches on economic risks, including the adaptability of the Chinese consumer and the role of the PBOC. The speaker expresses optimism about China's economic shifts, noting the growth of services over manufacturing and the rise of e-commerce.

What is the main question regarding the Chinese consumer over the next 5 to 10 years?

• Whether they will focus more on savings than spending

• If they will surpass the US consumer in spending

• Whether they can become a major driver of global demand

• How they will impact the European market

What is a significant short-term economic concern mentioned in the transcript?

• The decline of the US dollar

• The rise of the Indian economy

• The adaptability of the Chinese consumer

• The impact of Brexit

What mistake have capitalists made regarding the Chinese economy over the past 30 years?

• Overestimating its growth potential

• Underestimating its capabilities

• Ignoring its manufacturing sector

• Focusing too much on its service industry

What sector in China is now larger than manufacturing?

• Agriculture

• Technology

• Services

• Construction

What is the current trend in Chinese retail sales?

• A shift towards brick and mortar stores

• A diffusion of 21st-century retailing

• A focus on international markets

• A decline in e-commerce