Sunday 16 December 2018
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wn.com - 30 days ago

Trudy Rubin: China’s future weapon vs. America: Its growing middle class

YANTAI, China — They shop in malls and high-end supermarkets, buy condos by the seaside, attend wine tastings, vacation abroad, and push their kids to apply to Harvard. But they aren’t American suburb they are China’s huge and growing urban middle class, which Beijing hopes will eventually consume enough to lower the country’s dependence on exports. Whatever the outcome of the U.S.-China trade war – and any tête-à-tête between Presidents Trump and Xi Jinping at the upcoming G-20 meeting in Argentina – China’s urban middle class is set to become a major driver of the global economy. And a major force in the wider world. If you trust Chinese government figures, the middle class already...

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