Transcription of The Emerging Middle Class in Developing Countries
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The Emerging Middle Class in Developing Countries
The Emerging Middle Class in Developing CountriesHomi Kharas, Brookings InstitutionJune XX, 20111 Introduction Middle Class consumers in the US and other G7 powers have been a key source of demand in the global economy for the last 50 years. But with weak expected growth in US and European consumption going forward, where will future global demand growth come from? The Middle classes in Emerging economies, especially in Asia We are reaching a tipping point, where over the next several years the global Middle Class will expand dramatically. This is one of the most important features of today s global economic is the Middle Class important for growth?
• Middle class consumers in the US and other G7 powers have been a key source of demand in the global economy for the last 50 years. But with weak expected growth in
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