Visitors walk through the Qianmen area of Beijing on October 4, 2020. The success or failure of China’s goal of doubling its economy by 2035 hinges on its ability to increase its middle-class population and consumption. Photo: Bloomberg
Opinion
Opinion
China needs middle-class growth and consumption to sustain economic success
- Higher incomes for the bottom tiers in society and a stronger middle class are essential for a sustainable consumer economy
- If China can deliver on these, the newly minted middle class will be a driver for greater consumption as well as continued, improved industrialisation
Visitors walk through the Qianmen area of Beijing on October 4, 2020. The success or failure of China’s goal of doubling its economy by 2035 hinges on its ability to increase its middle-class population and consumption. Photo: Bloomberg
