Mind Food


China's new middle class

Three snapshots from China’s next chapter
A new middle class. An urban transformation. An e-tailing revolution. This slideshow details the key trends that will define a new China.
June 2013, McKinsey & Company

“To fully grasp China’s future direction, it is essential to understand its new middle class. A huge wave of increasingly affluent consumers will constitute China’s urban majority in less than a decade. The rapid emergence of this prosperous, digitally savvy, individualistic, and sophisticated class of consumers is creating opportunities and challenges for the companies that serve them. This slideshow looks at this consumer and urbanization phenomenon by the numbers. To understand, for example, how Singles Day—China’s alternative to Valentine’s Day—dwarfs Cyber Monday in the United States in online sales revenue, look inside.”

In 1820, the biggest contributor to global GDP was …..

China, with 33%.
Europe had 27%, India 18% and the USA, a piddling 2%.
Check out this fascinating graph from Kleiner Perkins Caulfield Byers
‘Internet Trends’ Presentation in May 2013.