Globalisation has expanded the size of the global middle class. This expansion will change consumption patterns and shift the balance of spending power to middle-income economies. Rapid growth rates of the middle class in China and India have played a decisive role in creating the middle-income bulge. By 2030 the global middle class has been projected to grow to two billion. It is of note that a large middle class was also created during the first era of globalisation. Copyright (c) 2009 The Author. Journal compilation (c) Institute of Economic Affairs 2009. Published by Blackwell Publishing, Oxford.
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Article provided by Blackwell Publishing in its journal Economic Affairs.