Globalization has expanded the market for goods and services worldwide, and the rise of the middle class in developing countries offers a growing consumer base that provides businesses with enormous opportunities. Economist and policy expert Homi Kharas looks into the implications that the growth of the global middle class – which he predicts will reach the five billion mark by 2028 – holds for the environment and the economy. getAbstract recommends his informative though quantitative report to social scientists, economists and marketers.
In this summary, you will learn
- How the ranks of the middle class are growing worldwide,
- What this growth means for global consumption and
- How this trend will affect climate change.
About the Author
Homi Kharas is deputy director of the Global Economy and Development Program at the Brookings Institution.