This is how the financial situation of the Chinese middle class looks like

By: Trademagazin editor Date: 2020. 12. 08. 11:03

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The Chinese president often states that in the future, Chinese consumers will be one of the engines of the world economy – origo wrote. This is largely due to the rise and rapid growth of the Chinese middle class. However, looking deep into the numbers, there is some uncertainty about exactly how much purchasing power and wealth it is.

The Chinese leadership often cites Chinese consumers as a global economic engine, and some say the Chinese middle class could pull the global economy out of the current recession (in part, at least). But new statistics suggest that Chinese consumers will not yet overtake the economic power of their richer Western counterparts, the Asia Times reports. (origo)