Thank you to Forbes Magazine

For writing and posting a very interesting article on China's import appetite, and desire to balance economic growth with environmental protection, something they clearly have not done, which is, as you know, our sweet spot.

We helped start a new company focused on bridging RI and other parts of New England to China to build new, clean commerce.  This new company, RI International Group, will fit right into their goal of importing 10 trillion on products and services.

We'll run this over two days.  Let us know what you think:

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

If you think food and energy prices are ever coming down, guess again.

China‘s newly minted Premier Li Keqiang said Monday that his country is likely to import as much as $10 trillion worth of commodities and services in the next five years to boost domestic consumption,China Daily reported Tuesday.

Li renewed the nation’s pledge to maintain its open policy, and promised a further opening up of services and industries related to energy-saving and environmental protection.

That mammoth $10 trillion number comes as no surprise to Boston Consulting Group senior partner Michael Silverstein.  He co-authored the book that spelled it out last year titled — no kidding — “The $10 Trillion Prize: Captivating the Newly Affluent in China and India“.  Only the Boston Consulting Group team that worked on the book forecast $10 trillion by 2020.  Li’s moved it up to 2018.

“We are in the third or fourth inning of the China consumer growth story,” Silverstein said in an interview with Forbes.  ”China consumer demand is going to make water scarce, wheat prices stable to high and keep luxury brands extremely happy.”

In his closing remarks this weekend at the China Development Forum in Beijing, Li said, “China will expand its opening-up policy. The nation needs to promote domestic consumption through continuing to open up its markets.”

China consumers are a big part of China’s future.  As part of the 12th Five-Year Plan (2011-15), the government has vowed to expand domestic consumption to help the nation move away from its export-driven, cheap labor model..."