Growing Middle Class in China- Selina Lassman

 Growing Middle Class in China

This issue is just being brought to everyone’s attention, over the past 10-15 years; the middle class in china has risen to over 25% of their population. To be considered middle class you have to have an income between $10,000 and $60,000 a year and living in the city as opposed to suburbs is considered to be middle class in China. With China growing over the past 20-30 years there have been a lot more business and entrepreneurship opportunities. Many Chinese state companies have employed many people and China has had their income triple in the past 10-15 years with the middle class rising. Being middle class you have more money to spend on things you don’t need to survive. They’re retail is going up and demanding a lot more services. Being a younger part of the middle class you tend to

have different wants and needs. The younger generation are into a lot of luxury and brand named items. Also being a younger part of the middle class generation you’re more likely to wait off to have children and want to explore the world before starting a family. Upper middle class citizens are educated and have learned how to speak foreign languages, allowing them to travel and wanting to travel more. This will be bringing in tourism to other countries other than China. This rise of the middle class in China gives other countries a lot of new opportunities such as companies selling and relocating to China. Being middle class in China they’re willing to pay high prices for quality products and can afford to spend the money on these types of materials and services. Having more money allows you to do more things in your life such as travel. The service industries will/is rapidly increasing. Their willingness to spend their money on goods and services such as entertainment, leisure, care services for the elderly and education. Being on the outs of middle class it’s hard to get in and make something of yourself. Most people in China that are off living in the country have a very slim chance of becoming middle class. They tend to not allow people from the country into the city. As time goes on its improving and offering some people from the country jobs in the city because they want to get majority of the population to become middle class. With China being a communist/democracy country with the rising of the middle class China has a very strong possibility of changing to a democratic country, this would be caused by the uprising of the middle class. The only way the middle class could ever change to an upper class or lower class is if they become a democratic country. China has one of the most stable economies because of their permanent middle class. It creates a stable flow of income for the government because of everyone being able to afford their dues.  In the future they’re predicting that 50-60% of China's population will be middle class China's new middle class is changing the economy and having a rapid impact on other countries. They need to be prepared and ready to keep up with China's demands and preferences. If China does become a democratic country the economic structure will change drastically because they’re going to have three types of classes upper, middle and lower class instead of just one.

Rise of Middle Class