Tell me and I forget. Teach me and I remember. Involve me and I learn. Benjamin Franklin

Sunday, March 16, 2014

How China (and the Rest of the Emerging Markets) Spend Today

After 30 years of catchup growth, consumers around the world are starting to look more and more American. 

By Matthew O'Brien

The Atlantic - Mar 14 2014

Emerging market consumers—they're becoming just like us!
They're earning more. They're spending more. And they're spending more on the same things we do. The same gear, the same gadgets, and, particularly in China, the same luxury goods.
It's the best news our beleaguered global economy has gotten in a while. For too long, the world has relied on Americans to be the consumers of last resort, to keep buying no matter how much debt it took. That worked until it didn't in 2008. But a world where hundreds of millions of Chinese, Indian, and Brazilian families are entering the global middle class—and spending like it—is one where growth could theoretically be more stable. A new report from Credit Suisse shows us just how this world is emerging, and what it means for all of us. Here are the big takeaways.

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