Tag Archives: China economy

Middle Class Rising In China-Headed Toward 100 Million

China has witnessed a phenomenal growth in its middle class as the economic boom continues to fast forward their nation. A recent study defines the middle class as containing those who make $7,500–$25,000. About 20% of people in this income bracket attribute social connections and networking as among the most important factors enabling an individual to move upward into the middle class wile only 15% attribute this change due to hard work. A significant number recognize the importance of eduction as being the foundation of a successful economic life. A majority of those surveyed wanted a home, a car and a good income and expected these to become more readily available as the economy continues to advance. The poll concluded the number of people in China who are middle class will reach 100,000,000 by 2016.

Of course, if there are 100,000,000 middle class people in China by 2016, where does that leave the other billion people? Ironically, as Communist China has unleashed the tiger of economic development, it has abandoned free medical care and allowed large sections of the nation to lag behind in education.