Chinese economic transition of middle class

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I wouldn’t say that I agree with all Minxin Pei‘s analysis of the Chinese economic transition, about the rise of the middle class. He nails the definition middle class really well. It isn’t a like for like comparison with the middle class in the west.

What’s driving the Chinese economic transition of the middle class?

  • Chinese economy now worth 5 trillion USD
  • China is now third largest trading partner and world’s largest exporter
  • China has worlds largest foreign currency reserves 2.5 trillion dollars
  • Lenovo is the world’s fourth largest computer manufacturer
  • Huawei is the worlds third largest network infrastructure company
  • Chinese high-speed trains can do 200mph, faster than the Shinkansen trains of Japan
  • Obesity is starting to become a problem in China
  • Every day about 1 million Chinese move from the rural parts of the country into the cities | urban centres
  • China consumes 50 per cent of the oil that the US does
  • China building 2-3 nuclear power stations per year

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