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Why the new middle classes are so good for their countries’ economies
MOST Western businessmen think the middle class in emerging markets matters because of its spending potential. One day those billions of Chinese, Indians and Brazilians will be buying awesome quantities of toothpaste or computers. A global consumer society will be born.
Walking around the stores of Sanlitun Village, a shopping mall in central Beijing, it is tempting to imagine that those dreams are already coming true. Young Chinese couples dressed to the nines ogle the latest computers and BMWs. The architecture looks like a collection of recent international design-award winners: the Apple store a cool glass box, the Adidas one a jagged shard of orange and ochre, all arranged around the obligatory skating rink. ...
The Economist: China's economy
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