China’s middle class is exploding

[PJL]

"The American consumer has been a central driver of the global economy for decades. Fortunately for the overburdened American consumer, China's middle class is going to be picking up more of the slack. China's middle class is on fire. According to a study by consulting firm McKinsey & Company, 76 percent of China's urban population will be considered middle class by 2022. That's defined as urban households that earn US$9,000 - US$34,000 a year. (That might not sound like a lot, but adjusted for prices, it delivers a roughly comparable "middle class" existence to other countries.) In 2000, just 4 percent of the urban population was considered middle class. ".....https://www.businessinsider.com/chin...ng-2016-8?IR=T

[PJL]

This is why Trump's desperate attempt to challenge China in a trade war is like pissing into the wind.

[Peter1469]

Will China's growth extend outside of the urban areas? Yet to be seen.

[PJL]

Will China's growth extend outside of the urban areas? Yet to be seen.

too late it already has.

[Peter1469]

too late it already has.

Ignorant statement.

[DGUtley]

One of my dearest friends, his wife, daughter-in-law, son, and partner do extensive business with China. Importing rubber chemicals. (The one selling the mansion). It has not extended beyond the main cities, according to them.

My neighbor and his family spent 30 months living there as he ran a factory. He said the same thing. He also said that the consumer stores are for the foreigners.

Never been there. No idea. Just two people I know very well.

[PJL]

Ignorant statement.

Not so......do some research before just dismissing a statement.

[Ransom]

China's middle class is exploding. And the US has every right to celebrate that, let us introduce the Chinese Middle Class to the American Automobile. The Jeep Wrangler if you live where roads are not paved. The Dodge Challenger when the road is paved. Perhaps a GMC Sierra with the back gate that folds down, holds speakers, is the ultimate tailgate.

What?

Say your tariff is what on American cars? 25%???!!!!!

Let me check with our China expert

PJL......apparently......the Chinese Middle Class is exploding and that means more access to products and thus a new market for US auto makers. Is it true China is slapping a 25% tax on our automobiles made here in Detroit for example? You know, Detroit could use some good news. The Tigers are awful. The Lions.....no one watches unless it's Thanksgiving. The Red Wings.....no. The Pistons.....no and no.

We make this great product....you got an expanding middle class that I bet would love our product......and the Chinese are slapping a 25% tariff on US autos shipped to China.....why that would make the vehicle unaffordable to most of their 'exploding' middle class. Yes?

[Captain Obvious]

Isn't that contrary to Maoism?

[Ransom]

It's contrary to owning a Jeep Wrangler Sahara.