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February 2019
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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.”


The Economist (June 29)

2013/ 07/ 01 by jd in Global News

“Over the past few weeks, in one country after another, protesters have risen up with bewildering speed. They have been more active in democracies than dictatorships. They tend to be ordinary, middle-class people, not lobbies with lists of demands. Their mix of revelry and rage condemns the corruption, inefficiency and arrogance of the folk in charge.” Whether it’s Brazil, Turkey, Sweden, Bulgaria, India or elsewhere, politicians should beware.


Euromoney (March Issue)

2013/ 03/ 11 by jd in Global News

“Investors are probably being too bullish about the size and buying power of Africa’s middle class.” Following a 2011 African Development Bank (ADB) report which pegged the middle class at 313 million, “it has become commonplace to hear wonderful things about the rise of Africa’s middle class.” The ADB’s figure, however, is misleading as it includes individuals making between $2-5 per day. Using a more conservative definition of those making $10-20 per day, Africa’s middle class would probably number less than a quarter of the ADB’s estimate. “Africa has vast potential, but investor sentiment today is pricing in a level of progress towards it that is not yet backed up by facts.”


Economist (June 23)

2011/ 06/ 24 by jd in Global News

On July 1, the Chinese Communist Party (CCP) turns 90. Despite this milestone, the CCP’s future looks uncertain. “The inevitable slowing in economic growth,” will strain relations between the middle-class and the CCP. Moreover, “tensions between China’s prosperous middle classes and its poor will make it a harder country to govern.” The CCP may feel forced to repress an increasingly restive middle class, further worsening relations. “In other Asian countries a taste for democracy has risen with income; and repression would mean withdrawing freedoms from people used to their liberty gradually increasing.” The CCP is in for a bumpy ride. The next 90 are far from assured.