Showing posts with label McKinsey. Show all posts
Showing posts with label McKinsey. 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
Labels:
China,
McKinsey,
Middle Class,
The Economist
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