Continuing with our earlier article please find some more interesting facts about emerging markets especially led by India and China, which will highlights how attractive emerging markets are:
We will share some interesting facts about emerging markets especially India and China in our subsequent articles.
1. Rapid Expansion of China's Proxy Shopping
The market size of China’s overseas shopping via proxy buyers is growing at an astonishing pace, recording CNY (Chinese Yuan) 74.4 billion as of 2013. The market size was calculated at 5.0 billion in 2009, but then has posted an average increase of 140% every year. By the end of 2014, the market is expected to become 30 times its size from back in 2009. The main items of purchase mainly consists of luxury goods such as cosmetics, purses and watches. This trend has been propelled by the unreasonably highly-priced luxury goods in China, following the government's heavy tariff on luxury goods.
2. China Becomes World's no.1 for Wine Consumption
China has become the world’s largest wine consumer. China (including Hong Kong) consumed 1.87 billion bottles (155 million nine liter cases) of red wine in 2013, with red wine consumption in the region almost tripling between 2007 and 2013. France and Italy were next in line, with 150 million cases and 141 million cases, respectively.
3. Can China Remain Cost Competitive?
China's cost advantage over the US in terms of manufacturing is shrinking. Rising wages in China, higher productivity in the US and America's upper hand in natural resources are the main factors behind the recent closing in cost gap between the U.S. and China. Moreover, the cost gap vs. emerging markets will shrink even further as the US is expected to benefit from other significant factors including lower logistics costs, highly customized products and lower time-to-market.
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