While the American and European middle class are still the world’s richest, their economic fortunes are stagnant and their status is waning. By contrast, every year more than a hundred million people join the middle-class ranks in emerging markets, and those already there are seeing their incomes increase very rapidly.
The United States and Europe house the majority of the world’s middle class now, but by 2030, China, India, and the rest of Asia(excluding Japan) will be home to more than half of global consumer purchasing power. The trends indicate that the Chinese middle-class market will be the world’s largest in terms of purchasing power just for a decade or two at most. Due to its growth potential, India’s young and increasingly well-educated population will constitute the most attractive emerging market by 2030.
2030 by Mauro.F.Guillen: 72–77
