LONDON — China’s retail market is expected to overtake the U.S. and become the world’s largest one as early as this year, eMarketer finds.
The market research company projects that China will produce $5.072 trillion in retail sales in 2020, despite a 4 percent decline from 2019, compared with $4.894 trillion in the U.S., as the American market will shrink by an even larger amount. EMarketer previously predicted China’s retail market will surpass the U.S. in 2021.
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