Chart Update, page-1590

I don't think most non-Chinese realise how big the Chinese 'middle class' is now. It is huge and they want the best for their children. They won't go backwards either, skimp on other areas maybe but teh kids will get the best of everything.


disallowed/opinion/the-killer-fact-about-the-chinese-middle-class-20170726-gxj1z7.html
It was presented in a 2010 OECD working paper by Dr Homi Kharas, now co-director in the Global Economy and Development program at the Brookings Institution. His prediction was that by 2030 Europe would add only 16 million to its middle class. Small stuff, and North America's middle class was set to shrink by 16 million. In this context, 850 million more middle-class Chinese dominate world economic prospects. That means the Chinese middle class will grow from 12 per cent of its population in 2009 to 73 per cent in 2030. By middle class, Kharas means household income equivalent to between $US16,000 ($20,254) and $US160,000 per year, a widely used definition