Part 2 from Forbes Magazine

China $10 Trillion Import Machine Says Goodbye To Cheap Energy, Food

..."China is facing two unprecedented transformations, Li said. One is for a nation of 1.3 billion people to complete its modernization process without destroying the environment or creating gaping income gaps. China is currently losing both of those fights.  That leads to the second challenge, to address and implement policies that will avoid these problems in the future, especially concerning environmental protection.  China is one of the most polluted countries on Earth.

On the way to maintaining sustainable economic growth, China is facing “huge opportunities and complicated and severe challenges,” and “we have to rely on domestic consumption in the long-term,” with “urbanization” being a major contributor to that growth, Li said.

The Boston Consulting Group forecasts that between now and 2020, China consumers will spend $41.5 trillion with annual expenditures rising from $2 trillion in 2010 to $6.2 trillion in 2020, an increase of 203%.  Chinese children born today will continue to live in a country on the path of rapid economic progress and growth.  They will consume 38 times more material goods — from food to shelter — than their grandparents before them, Silverstein estimated."