China could replace US as largest consumer by 2025

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GLOBAL - The Chinese could challenge Americans as the world's largest consumers by 2025, and will more than compensate for any US sluggishness, Goldman Sachs Asset Management chairman Jim O'Niell believes.

O'Neill, who famously coined the acronym ‘BRIC' for the world's leading four emerging nations (Brazil, Russia, India and China), said: "The implications (of this development) for global markets and...

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