Posted by Lex, on November 20, 2005
Brought to you by the Weekend Edition of the Wall Street Journal (free minds and free markets!):
Did you realize that only 23% of the population of mainland China falls under the definition of “middle class”?
On the other hand, do you grok the fact that’s still 300 million people?
In other words, there are over 4 million more middle class Chinese than there are citizens of the entire United States. Which kind of puts that whole “emerging markets” thing into perspective. Duddn’t it.