Monday, May 21, 2007

China's Illusary Middle Class

Everyone has a different definition of the "middle class" that is supposed to be behind this growth in consumer spending.

"There's no real definition of middle class," said Jonathan Anderson, chief Asia economist at investment bank UBS. "If you want to identify the number of people who can afford a mobile handset, the answer would run to nearly the entire population. If your definition is how many people have 'significant discretionary power', [it's] 100-125 million."

For more information visit: http://www.businessweek.com/globalbiz/content/may2007/gb20070509_866451.htm?chan=top+news_top+news+index_global+business

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