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New York Times (August 18)

2022/ 08/ 19 by jd in Global News

“For decades, buying property was considered a safe investment in China. Now, instead of building a foundation of wealth for the country’s middle class, real estate has become a source of discontent and anger.”

 

WARC (August 1)

2022/ 08/ 02 by jd in Global News

“Whether it’s $18 for a two-ounce ginseng drink or $75,000 for a luxury mattress, the story is the same: Chinese consumers are becoming more frugal and the days of carefree spending have gone.” For over a decade, upmarket western brands have relied on China’s “expanding middle class” to drive growth, “but now, with a slowing economy, growing unemployment and a disruptive zero-COVID policy, those same middle classes are as likely to be saving as spending.”

 

The Economist (May 8)

2021/ 05/ 09 by jd in Global News

“India’s national government looks increasingly hapless. Confronted with catastrophe, the state has melted away” leaving citizens enraged. “Indians are accustomed to ineptitude and meagre support,” but “it is a sense of utter abandonment, especially among the politically noisy middle class, that is driving the anger.”

 

Wall Street Journal (November 28)

2019/ 11/ 29 by jd in Global News

“American voters, beware. Politicians promising that Medicare for All and a Green New Deal can be financed by the rich are lying to you. The middle class will pay because that’s where the real money is.”

 

New York Times (February 3)

2019/ 02/ 05 by jd in Global News

In recent decades, per capita GDP has doubled in the U.S., but “the bulk of the bounty has flowed to the very rich. The middle class has received relative crumbs. If middle-class pay had increased as fast as the economic growth, the average middle-class family would today earn about $15,000 a year more than it does, after taxes and benefits.”

 

Bloomberg (February 8)

2018/ 02/ 11 by jd in Global News

“Boosted by an expanding middle class, India and Indonesia will enter the ranks of the five largest, as well as the fastest growing air-passenger markets by 2036. China will post the quickest passenger growth and also overtake the U.S. as the biggest air-travel market. Turkey rounds up the top five markets that are expanding at the fastest pace.”

 

The Economist (January 13)

2018/ 01/ 15 by jd in Global News

“To many, India feels like the heir apparent. Its population will soon overtake its Asian rival’s. It occasionally grows at the kind of pace that propelled China to the status of economic superpower.” But there is one big snag in many marketers’ dreams: India’s middle class “scarcely exists.” Only 8 million Indian adults make $20,000 annually and “the chances of India developing a middle class to match the Middle Kingdom’s are being throttled by growing inequality.”

 

Bloomberg (July 25)

2016/ 07/ 26 by jd in Global News

“With a young population, an expanding middle class and one of Southeast Asia’s fastest-growing economies, Vietnam is an alluring market for Aeon, Takashimaya Co. and Seven & i Holdings Co. The reason: China is slowing and growth is flat-lining at home.”

 

USA Today (May 28)

2014/ 05/ 30 by jd in Global News

“Despite what politicians say,” entrepreneurs don’t create many jobs. “Successful entrepreneurs almost always create real value in the economy and grow the economic pie for all of us,” but they “do not always create enormous numbers of jobs, particularly for the middle class.” In fact, “the creative destruction that accompanies entrepreneurship today often destroys middle-class jobs.”

 

The Economist (September 14)

2013/ 09/ 16 by jd in Global News

“More growth, not less, is the best hope for averting a sixth great extinction.” As individuals reach the middle class they start to think more seriously about protecting the environment. In rich countries, conditions “are, by and large, improving, and endangered creatures are moving away from the edge of the cliff.”

 

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