China’s middle class overtakes US as largest in the world: Report

Posted on 14 October 2015. Tags: China's, Class, largest, middle, overtakes, report, World

China’s middle class has overtaken the United States to become the largest in the world according to a comprehensive new report on the distribution of global wealth.

Despite fears of a global growth slowdown in the emerging world, Asia is set to be the scene for the greatest expansion of the world’s middle class, said Credit Suisse, in its annual wealth report.

China now accounts for a fifth of the world population, while holding nearly 10pc of the global wealth.

Contributed By Sonia Narula

News of Delhi