While the Chinese middle class (see my definition of the Chinese middle class) will alter the global economy in the years ahead, there are obstacles to Chinese consumers increasing their spending.
Recently, I was on BBC World News to discuss the eurozone debt crisis and how the Chinese middle class can help re-balance the Western economies.
FORBES: The Biggest Story of Our Time: The Rise of China's Middle Class
In 2006, McKinsey predicted that the by 2025, the Chinese middle class would reach 612 million and China would become the third largest consumer market in the world after the U.S. and Japan.
FORBES: Times Have Changed: No More "China Produces and America Consumes"
The Chinese middle class is creating enormous opportunities for Western companies selling into China.
FORBES: The Biggest Story of Our Time: The Rise of China's Middle Class
The Chinese middle class is creating enormous opportunities for American companies selling into China.
FORBES: Times Have Changed: No More "China Produces and America Consumes"
Its boosters claim it has brought high growth and unlimited opportunities to the Chinese business class.
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Housing is on of the most popular investments of the Chinese middle class and elite.
They are from all walks of life and are the new members of the Chinese middle class.
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If history is any indication, all new infrastructure quickly will become indispensable to the Chinese middle class.
As the Chinese middle class continues to grow, China will import more goods and services from abroad.
FORBES: Times Have Changed: No More 'China Produces and America Consumes'
But the Chinese middle class is not nearly as rich as the middle class in developed countries.
As this process unfolds, the Chinese middle class will change the dynamics of the world we live in.
Defining the Chinese middle class can be confusing, depending on whom you talk to or which numbers you use.
However, this much is clear: the Chinese middle class has already changed the dynamics of the world we live in.
FORBES: Times Have Changed: No More "China Produces and America Consumes"
The Credit Suisse report reveals that the average household income of the Chinese middle class increased 98% between 2004 and 2009.
FORBES: Times Have Changed: No More 'China Produces and America Consumes'
With the Chinese middle class growing sizably and relocating to urban centers, McKinsey sees Internet users spending more time shopping online.
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Studies predict that the Chinese middle class will wield enormous spending power as it reaches 600 million-800 million people in fifteen years.
So if the Chinese middle class are getting richer, mom and pop retail investors can get in on the some of action.
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The Credit Suisse report reveals that the average household income of the Chinese middle class increased 98 percent between 2004 and 2009.
FORBES: Times Have Changed: No More "China Produces and America Consumes"
The Chinese middle class is an emerging global force that can serve as a catalyst for a more balanced world for all.
The Chinese middle class has proved to be an alternative growth engine for Western companies, especially when their home markets stagnate during the recession.
FORBES: Times Have Changed: No More 'China Produces and America Consumes'
This will produce more jobs and more balanced growth in both countries, driven in good measure by the growth of the Chinese middle class.
FORBES: Times Have Changed: No More 'China Produces and America Consumes'
Studies predict that the Chinese middle class will wield enormous spending power as it reaches 600 million to 800 million people in 15 years.
The Chinese middle class is now more than 450 million strong.
Bolton will eventually recoup his million pounds, the London analyst argues on the Motley Fool site, due to the growth of the Chinese middle class.
This will produce more prosperity in both countries, yielding a virtuous circle of more growth, more interdependence, and more balance, driven in good measure by the growth of the Chinese middle class.
The huge market size and Amazon pricing its devices at low margins which most likely will appease the growing Chinese middle class leads us to expect that the devices will be well received and likely provide substantial upside to e-books and other content sales as well.
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It is, rather, the former students who are now members of the burgeoning Chinese middle class.
CNN: ASIANOW - TIME Asia | Visions of China: Peking University
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