The Chinese Consumer in 2019
Media reports of slowing SUV sales and a bounce back in the popularity of instant noodles have been cited as evidence of an apparent “consumption downgrade” over the last 18 months. With the Chinese government keen to continue to push a more balanced economic growth model less dependent on investment and increasingly driven by consumption, such a cyclical slowdown is obvious cause for concern, and likely underscored a series of recent tax reform measures intended to stimulate spending.