So who is really the world's largest consumer market, the United States or China? In terms of monetary amount, the annual consumption total in the United States is $18.8 trillion, of which only $6.1 trillion is used for goods consumption. The remaining $12.7 trillion, or two-thirds, is spent by Americans on rent, health insurance, utility bills, legal services, and other financial and tax professional service fees, tuition, and travel and dining services. In China, the total retail sales of consumer goods in 2024 is 48.33 trillion yuan, which translates to $6.6 trillion at nominal exchange rates. If one thinks that China's $6.6 trillion is not much more than America's $6.1 trillion, then let's take a look at how much China consumes in terms of goods: China consumes half of the world's pork, half of the vegetables, 40% of the fruits, 70% of the freshwater fish, and 40% of the seafood, half of the steel, half of the cement, one-third of the cars, one-third of the mobile phones, one-fifth of the computers and tablets, and at its peak, 40% of the houses.