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Another Cliff Clavin Moment

Brought to you by the Weekend Edition of the Wall Street Journal (free minds and free markets!):

Did you realize that only 23% of the population of mainland China falls under the definition of “middle class”?

Poor bastards.

On the other hand, do you grok the fact that’s still 300 million people?

In other words, there are over 4 million more middle class Chinese than there are citizens of the entire United States. Which kind of puts that whole “emerging markets” thing into perspective. Duddn’t it.

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4 comments to Another Cliff Clavin Moment

  • badbob

    Wait till all 300 million get 2-3 cars in the driveway…watch out gas prices!
    B2

  • lex

    I’ll be OK with that, so long as they are hybrids and each of them has a CDMA-equipped cell phone: Go Qualcomm!

  • badbob

    Own stock, eh?

    Well, at least they all don’t have the right to bear arms!

    B2

  • That middle class is also growing at a very rapid rate. Granted, middle class means a median disposable income of maybe $8K/year, but that median income level is also growing at probably 10-15% per year, doubling every 5-7 years.

    Meanwhile the lower class income growth is almost zero. Still a huge surplus of uneducated people in the countryside. Income disparity and its implications remains a HUGE concern for the party.

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