CHINA - Will Pass US in Retail Sales

Arno Froese

Chinese consumers should outspend their American counterparts in 2019, with retail sales in the Asian giant continuing to grow in the coming years, according to an industry forecast.

Retail sales in China are expected to hit $5.64 trillion, an increase of 7.5 percent over 2018, while Americans are likely to spend $5.53 trillion, a 3.3 percent increase, according to the market research firm eMarketer.

Growth in China’s retail sector has been driven by online sales, which should expand by 30 percent this year, reaching $1.99 trillion, according to the firm.

This would mean more than 35 percent of all Chinese retail sales will occur online, by far the highest proportion for ecommerce in the world.

China’s online retail sales are already greater in value than in the United States and should represent 55.8 percent of global online ecommerce by the end of this year, rising to 63 percent by 2022—when Americans will account for only 15 percent.

While its market share has steadily declined in recent years, Chinese online retail giant Alibaba should still account for 53.3 percent of online retail in China this year, according to eMarketer., 23 January 2019

Arno's commentary

Communist China continues to surprise virtually the entire world. While the political system is strictly controlled and guided by the communist party, commerce is more and more placed in the hands of capitalist entrepreneurs. Especially noteworthy is the high-tech sector; e-commerce already now represents 25.8% of global online business.

It seems that almost weekly, communist China attains the number one position in some area or another. The absolute number one country in the past had been the USA; now the crown increasingly belongs to China.

We highlight these developments to simply reiterate our Bible-backed belief that the world must become one. Globalism is the winner, and whoever steps outside the boundaries of globalism will be a loser. Of course, we must add that in the end, the entire global financial and commercial system will collapse (see Revelation 18).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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