Showing posts with label Middle Class. Show all posts
Showing posts with label Middle Class. Show all posts

Friday, September 11, 2015

China’s Middle Class Growing Explosively

While the Long Noses are converting good parts of the world - including most of their home countries - into disaster zones and failed states, half a billion Chinese are ascending into the middle class: In 2010 mainstream consumers—those with enough money to buy cars, fridges and phones but not Rolls-Royces—made up less than a tenth of urban Chinese households. McKinsey predicts that only by 2020 the income-middle class will grow by 1,000% to make up well over half of the Chinese population while the percentage of the very poor will be cut in half. Credits: McKinsey + The Economist