The Chinese Consumer Is Clearly A Global Gamechanger

The evolution of the Chinese economy has arguably been the most important economic story of the last several decades.

As the world's second biggest economy matures, it has been increasingly becoming one driven by consumption rather than manufactured exports.

This more recent trend is demonstrated perfectly by the retail success of China's Single's Day, a sort of anti-Valentine's Day.

Bloomberg TV's Scarlett Fu shared this chart comparing Alibaba.com's Single's Day sales and U.S. Cyber Monday sales.

Cyber Monday, which is the Monday following Black Friday when American's rush to take advantage of online holiday shopping deals, was eclipsed by Single's Day last year. This year is expected to be even bigger.