China's consumers: Doughty but not superhuman

A study of Chinese consumers by Bain & Company found that foreign brands lost market share in the majority of categories of cheap consumer goods last year. In more sophisticated products, domestic companies are also elbowing into territory once dominated by international players. Growing consumption of services, whether cosmetic surgery or restaurant meals, only accentuates the home advantage, since most services are delivered locally. According to The Economist, while China's consumer boom is real, it cannot be counted on to lift the global economy.