The value of China’s emerging middle class – McKinsey Quarterly
From The McKinsey Quarterley:
* As global companies have entered China, many of them focused mainly on serving its urban-affluent consumers. However, if these companies continue to use this strategy they risk missing the real opportunity”the emerging middle class.
* During the next 20 years we expect a huge middle class, with enormous spending power, to emerge in China’s cities, following two distinctive waves of growth.
* As incomes increase, the spending patterns of this consumer group will evolve, fueling various levels of growth across consumption categories. [Full text – free registration required]
Also from McKinsey Quarterly, “The road ahead for capitalism in China.”