Stephan: As this report spells out, "By 2030, Asia-Pacific countries will comprise nearly
two-thirds of the global middle class, dwarfing the projected one-fifth for Europe and North America combined."
Along with climate change this is one of the great geopolitical meta-trends that will define the 21st century. In the U.S., one has to also add The Emerging White Minority Trend.
And yet you will find barely a mention of this anywhere in corporate media. Why is that do you think? Austerity economics and deregulation have virtually destroyed the American middle class, certainly made it a shadow of its former self. In those European countries which embraced Austerity Economics a similar process has been going on. At the same time India, China, the Asia-Pacific nations, are creating a middle class that will dwarf its White counterpart. Power will shift. Our intransigence concerning climate change, means leadership will go elsewhere, and will increase the speed of this transfer.
We are going into a different world. And because profit is our only cultural priority, we are doing it rather badly.
China and India lead Asia’s middle class growth.
Credit: BBC
In his last State of the Union address, President Obama made a pitch for “middle class economics” to help America’s beleaguered middle class, which continues to face stagnant wages, job displacement and soaring college costs and debt. His stated goal was to provide Americans with the requisite tools to get ahead in a fast-paced, constantly changing global economy. Of course, the United States middle class is not alone. Those in other advanced industrial countries are suffering similar or worse fates.
Meanwhile, an opposing trend is sweeping the developing world. Both the size and spending of the middle class in emerging market and developing countries are surging, particularly in China and India. By 2030, Asia-Pacific countries will comprise nearly two-thirds of the global middle class, dwarfing the projected one-fifth for Europe and North America combined. (emphasis added) Seized by the dramatic eastward shift of global consumption, a growing number of analysts are examining the potential economic and political […]
