Investors count on ChinaÆs consumption story

Domestic consumption is an investment theme long shared by many international fund managers looking to invest in Asia, but China is one market where spending power is far from being an old story.ôThings would have to go desperately wrong globally for [consumption growth] in China to be derailed,ö Paul McKenzie, head of consumer research at CLSA, said in the sidelines of the recently held CLSA Investors forum. Higher wages and rapid urbanization are among the main drivers of consumptio…