Politics for Pros- moderated Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: neolib who wrote (128279)	7/29/2005 11:57:03 AM
From: aladin	Read Replies (2) of 793890

neolib, In China there are now 3 distinct groups - the ultra wealthy, a small but growing middle class and the huge majority who are poor. India is stigmatized in the west by its ancient caste system and bureaucracy. Our impressions of India through the MSM are almost completely wrong. Yes there is abject poverty and an ultra wealthy group as in China. However, India has a large emerging middle class. In 1977 during a heated debate in university on this subject, an Indian student pointed out that the middle class in India outnumbered the population of Canada (about 20 million at that time). We look and see Calcutta, but ignore Bangalore. Today India's population rivals China's, but different from China its middle class has more than tripled as a percentage from my University days. At todays 20% - we are talking in the neighborhood of 200 million people. Some economists put the figure at 300 million (using a more regional definition for middle class). By 2040 the conservative estimate is over 50%. Clearly not as good as North America, but the trend is positive. China by contrast will reach 100 million middle class by 2010 (using the conservative measurement). Again the trend is good, but India is way ahead. John

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next