The global middle class is swelling, especially in Asia. By 2030, the continent will be home to 60 percent or more of the world's middle-class population. Such a rush to prosperity has never been seen before. As that cohort expands, the consequences will be profound, from business opportunities and poverty alleviation to environmental fallout. Many companies in the developed world are ramping up operations in Asia to take advantage of the burgeoning spending power. Now Asians are sipping cappuccino in Starbucks and swaddling infants in Pampers. China has become the world's top market for TVs and cellphones. Bond markets are building up and credit cards are proliferating, spreading risk along with liquidity. Will Asian consumers continue to save their money, or learn to splurge? How do companies customize their offerings for Asian commerce? What product categories will hit big, and which will land with a thud? What are the implications for global resources, including food and energy? When it comes to branding and selling, what aspirations and ideas will motivate the masses?
Video was originally posted by Milken Institute here.
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