Chinese retail sales are set to dwarf U.S. sales this year

China is on track to leapfrog the U.S. this year and become the world's largest retail economy. Retail spending is rapidly increasing in China due to growth in the middle class, with e-commerce giants like Alibaba and leading the way. Even more interesting given the Amazon dynamic in the U.S. is that China will see over 30% of its retail business conducted online, as compared to a meager 11% in the United States.

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