GLOBALISATION AND AN EMERGING GLOBAL MIDDLE CLASS

Globalisation has expanded the size of the global middle class. This expansion will change consumption patterns and shift the balance of spending power to middle-income economies. Rapid growth rates of the middle class in China and India have played a decisive role in creating the middle-income bulge. By 2030 the global middle class has been projected to grow to two billion. It is of note that a large middle class was also created during the first era of globalisation.