In 1990, China had a total of 5.4 million vehicles on the road. Fast forward 22 years, and 19 million cars and trucks were sold in China in 2012 alone. As recently as 2010, Nokia had a 70% share of China's smartphone market. In the first six months of 2013, 150 million smartphones sold in China and less than 5% of them were Nokias. Even with all the food scandals, Chinese consumers are eating almost three times more meat than they were in 1990, including 1.7 million pigs a day. But it is urban migration that's really changing consumer habits. Since 1990, China's urbanisation rate has more than doubled to 53% and there are now more than 123 Chinese cities with more people than Barcelona.
Consumer spending still lags behind the US, but that's all set to change in 2018, barring any apocalyptic showdowns with Japan, or a nationwide bird flu epidemic, that is.
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