The incredible growth of the middle class

Homri Kharas, James Peron, Leon Louw
South Africa
2018
Free Market Foundation

Homri Kharas, Deputy Director of Global Economy and Development with the Brookings Institute, USA, James Peron, president of the Moorfield Storey Institute, USA, Leon Louw, Founder of the Free Market Foundation, South Africa: We are witnessing the most rapid expansion of the middle class, as a global level, that the world has ever seen. …the vast majority—almost 90 percent—of the next billion entrants into the global middle class will be in Asia: 380 million Indians, 350 million Chinese, and 2,010 million other Asians. This growth in the Asian middle class means rapidly growing economies by 2030: “Today’s lower middle-income countries, including India, Indonesia, and Vietnam, will have middle-class markets that are $15 trillion bigger than today.”




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