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April 15, 2014

Slowdown puts 1bn middle class at risk

“Almost a billion people in the developing world are at risk of slipping out of the ranks of a nascent middle class, according to FT analysis, raising questions about the durability of the past 30 years’ remarkable march out of poverty.

“Rising inequality and slower global growth raise issues for businesses that have been investing heavily in emerging markets.

“One of the biggest questions confronting governments is what slower growth will mean for the creation of a solid middle class in countries such as China and India, which many are counting on to drive the global economy in the 21st century.

“The IMF last week warned that the world could face years of below-par growth, while economists from the World Bank also cautioned that growth of developing economies was likely to average 2-2.5 percentage points less than that seen before the 2008 global financial crisis.”

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Read full Financial Times article here.

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