It has long been glimpses of the Chinese middle class is real. Not long ago, the Chinese - or any other Asian emerging economies - can have a sizable consumer class from the poor, the bottom of social pyramid in his breakthrough, many economists also openly skeptical. Today, however, such doubts are beginning to dissipate.
This year, the Asian export-led development should rely on claims may begin died down, people will recognize that future growth in Asia will largely rely on internal forces. By the Asian export-led development model can even be caused by global imbalances thus be corrected. Triggered the current round of global imbalances is a core element of the global financial crisis.
Not only in China, India, the world's second most populous country in the 2.4 billion people, rapid economic growth in Indonesia, and 8,500 million people, is to follow the footsteps of China's development in Vietnam, consumer class began to grow and develop. Even in the less successful economies, such as the nearly 95 million population of the Philippines, although economic growth did not reach top level, but because the economy has been growing steadily over the years, groups of rich life is also gradually expanding.
In Japan, Korea, Taiwan, Singapore and Hong Kong and other places outside the downtown region of the middle class is emerging, which will have far reaching implications. In view of the European economy and even the next few years may be sluggish U.S. economy, from food to insurance and other industries are eager to the emergence of new consumers. Many companies may find them in Asia, the much-needed opportunity.
Economic consultancy Dragonomics (Dragonomics) of Kroeber (Arthur Kroeber) in 2006 published a report, comparable to the size of the Chinese middle-class American "fairy tale" poured cold water. He was estimated that only 20% of Chinese urban households - the 1.3 billion population of 1.1 billion people - has a strong discretionary buying power. Most Chinese people are Kroeber called "subsistence China" (surviving China), that is, those living in Shanghai, Beijing and the Pearl River Delta and other "rich islands" outside the region, live in poverty and subsistence of the broad masses.
However, Kroeber, who has now changed the point of view. Many Chinese people more quickly than expected revenue reached a "threshold" - it is a sign of a consumer started to take off is difficult to determine the critical point. Moreover, Kroeber said, the Chinese real income (cash income or gray income) higher than the official statistics, the long-established assumptions in a recent study has been confirmed. Dragonomics now estimates that China has 300 million people - 23% of the total population - has a strong discretionary buying power, they live in large companies easy access to the larger cities. If the 300 million people - they are Dragonomics called "consumption of the Chinese" (consuming China) - self-contained country, the country's economic size will be equivalent to two thirds of Germany.