According to 2019 economic projections which country was expected to become the worlds largest retail market overtaking the United States?

Difficulty: Easy

Correct Answer: China

Explanation:


Introduction / Context:
Retail market size is a key indicator of a country s consumer power and overall economic scale. For many years the United States held the position of the largest retail market. However, with rapid urbanisation and rising middle class income in Asia, projections around twenty nineteen indicated a shift in this ranking. Competitive exams often ask which country was expected to overtake the United States as the biggest retail market in that period, testing awareness of global economic trends.


Given Data / Assumptions:

  • The year mentioned is twenty nineteen.
  • The question asks which country will become the worlds biggest retail market.
  • Options are Japan, China, India and US.
  • We assume the question reflects widely reported forecasts made by research firms and financial news sources before or during twenty nineteen.


Concept / Approach:
Economic studies and news articles around that time consistently indicated that China was set to surpass the United States in total retail sales, becoming the largest retail market in the world. Japan and India have significant markets but are smaller in comparison to China and the United States. The United States was the incumbent leader, but the question asks which country will become the leader, clearly hinting at a change in ranking. Therefore, the correct concept is to recall that China s massive population and growing consumption were projected to place it at the top of global retail markets around twenty nineteen.


Step-by-Step Solution:
Step 1: Understand that the question is about the country that was expected to be the biggest retail market in twenty nineteen.Step 2: Recall that at that time, analyses by global research firms forecast China overtaking the United States in overall retail sales.Step 3: Compare the options and identify China as the country whose retail sector has grown fastest and on the largest scale among the choices given.Step 4: Select China and rule out Japan, India and US based on their relative market sizes and the wording of the question.


Verification / Alternative check:
Reports from major financial news outlets and market research organisations in the late twenty tens highlighted that total retail sales in China were on track to surpass those of the United States, making China the largest retail market by about twenty nineteen. Exam oriented current affairs capsules summarised these findings into one line facts that specifically noted China as the country becoming the biggest retail market. Checking any of these reputable sources reinforces that China is the correct answer expected in competitive exams.


Why Other Options Are Wrong:
Japan, while being a developed country with high per capita spending, has a much smaller population and overall market size compared to both China and the United States, so it was not in contention for the number one position. India has a rapidly growing retail sector but was still behind both China and the United States in total value during that period, so it cannot be the predicted leader for twenty nineteen. The United States was the incumbent leader, and the question uses the phrase will become, which implies some other country is about to overtake it, so selecting US would ignore the projected change described in the question.


Common Pitfalls:
Some candidates misread the question and pick the United States simply because they know it has historically been a large consumer market. Others may choose India due to its strong growth, forgetting that overall size still lagged behind China. To avoid these errors, it is important to pay attention to both the year and the phrase will become worlds biggest retail market, and to associate this change specifically with China for that time frame.


Final Answer:
Based on widely reported twenty nineteen projections, China was expected to overtake the United States and become the worlds largest retail market, so China is the correct option.

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