The largest consumer market on earth is the United States of America, making up 26.1% of world GDP and 30% of global consumer spending with only 4.2% of the global population. China is the largest exporter.
Why is the US consumer market larger than China’s despite having significantly fewer people only around 330 million people?
The United States and Americans are different.. They adore materialism and the accumulation of wealth. It is their religion and business is what they eat sleep and breathe. They are not savers like Asians… Or intellectuals like Europeans.. They borrow every dime they can and spend as much as they can. This is why they have the biggest consumer market in the world..
Because most things in the US are freaking expensive. USA will increasing 100x times of original price with different brand. China’s new cancer drug Toripalimab is approved in the US but will cost 30 times more.
American consumerism is truly like no other nations. American consumers are spoiled, levered, impulsive and relentless. American consumer is not replaceable. The people in this country spending $$$ they likely should not be but it never stops. It is truly great for corporations and companies that want to make a tons of money. The American consumer makes the world go round.
Because Americans’ daily lives are extremely wasteful. They drive central air-conditioning 24 hours a day, buy large-displacement pickups trucks, eat high-calorie foods, and treat everything that they can’t eat as garbage. The Chinese population, especially the urban population in China, generally believes that their standard of living is already very good, but per capita resource consumption of Americans is four times that of the Chinese. In China, being vegan has never been a trend, because fresh vegetable is cheap in China.
This way of life is built on the looting of the world by the US military and the US dollar system.
Do you think this lifestyle is sustainable?
This is why American’s GDP is the highest. Along with their debt. All fake work.
US market may seem to be something judging only by the number, but it’s not that impressive if you go down deep into the details.