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China’s middle class has grown explosively in the past 20 ye

China’s middle class has grown explosively in the past 20 ye -Chinas-middle-class-has-grown-explosively-in-the-past-20

China’s middle class has grown explosively in the past 20 years.⁠

As China’s middle class has expanded, it has in many ways also started to look like America’s.⁠

Max Zenglein, chief economist for the Berlin-based Mercator Institute for China Studies, said China’s middle class will soon face very similar challenges to the US and European middle classes.⁠

“Wage growth is not strong enough to make it easy for them to afford their dreams,” he said. “It’s very difficult to move upward, but there is a risk for them to move down, and that’s something new. They might be hitting a ceiling.”⁠

Read the full story at the link in bio.⁠
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