China's middle class 10 times larger than that in India

[Not Sure]

Is your respect contingent on others stomaching your lies? You sound like an abusive person. Either source your claims or repudiate them.

Yes,I'm very abusive, just stay away from me lol

 

[Lure]

I've checked out the report and saw some interesting results. Until 2009 US share on global wealth was steadily dropping and at it's lowest point (2009) it saw 26%. After 2009 we start to see steady increase and currently it's 31.8%

Does anybody have an idea about that?

 

[TaiShang]

Nothing surprising here in terms of China's having a larger middle class than India. It is all about efficiency and we know which side excels in that area.

The report can be viewed here

 

[Keel]

China's middle class 10 times larger than that in India?

So?

Read who releases the news? TOI
You are going to expect something like "21st century belongs to India" speech soon
We support it
Wear your seat belts

Not really bashing here, it should be a matter of pride for the Chinese as the numbers are very impressive.

But at the same time, Chinese are notorious for fudging the figures too. One ought to keep 'em in check.

Not sure: I am not sure about that

 

[Keel]

I've checked out the report and saw some interesting results. Until 2009 US share on global wealth was steadily dropping and at it's lowest point (2009) it saw 26%. After 2009 we start to see steady increase and currently it's 31.8%

Does anybody have an idea about that?

Probably we have to compare these in conjunction with Gini Index
The same thing applies for China and elsewhere
So just judging from the swell in wealth is not an absolute blessing for a nation

 

[Lure]

Probably we have to compare these in conjunction with Gini Index
The same thing applies for China and elsewhere
So just judging from the swell in wealth is not an absolute blessing for a nation

No this is not about distribution and welfare. What I've meant was there is huge wealth increase in US after 2009 crisis. In 2000-2009 period the wealth increase was in much more slower rate. And suddenly after 2009 US sees a huge peak.

I mean in the period which people think US Economy is stagnating and losing it's global competition power, we see a huge peak on the increase of the total wealth (Think of this like the first derivative of the total wealth graph). That's really interesting. Their GDP didn't grow that fast. There must be something else.

Can this be a result of Quantitative Easing policy?

The Source of the Data : National wealth - Wikipedia, the free encyclopedia

@LeveragedBuyout What do you think about that?

 

[Keel]

No this is not about distribution and welfare. What I've meant was there is huge wealth increase in US after 2009 crisis. In 2000-2009 period the wealth increase was in much more slower rate. And suddenly after 2009 US sees a huge peak.

I mean in the period which people think US Economy is stagnating and losing it's global competition power, we see a huge peak on increase of the total wealth. That's really interesting. Their GDP didn't grow that fast. There must be something else.

Can this be a result of Quantitative Easing policy?

The Source of the Data : National wealth - Wikipedia, the free encyclopedia

@LeveragedBuyout What do you think about that?

Check it out if during the same period there was a surge in IPOs, mergers and acquisitions in the USA - esp in the IT industry

 

[Gandhi G in da house]

Deliberate misinterpretation by OP.

 

[Lure]

Check it out if during the same period there was a surge in IPOs, mergers and acquisitions in the USA - esp in the IT industry

Total foreign assets of US is 4.8 trillion dollars.

You can't explain a 25 trillion wealth increase in 5 years with just buying assets abroad. No country can buy 5 trillion dollars of foreign assets a year.

Between 2009-2014 US increased it's wealth equal to the amount of total wealth in Japan. Meaning US made a "Japan" in 5 years. There must be something to explain this.

 

[Keel]

Total foreign assets of US is 4.8 trillion dollars.

You can't explain a 25 trillion wealth increase in 5 years with just buying assets abroad. No country can buy 5 trillion dollars of foreign assets a year.

Between 2009-2014 US increased it's wealth equal to the amount of total wealth in Japan. Meaning US made a "Japan" in 5 years. There must be something to explain this.

It seems you are not associating the figures correctly in respect of IPOs and M & A
Those capitalization and financial maneuvres are attracting cash inflow globally
QE does make US assets cheaper to buy for overseas investors relatively speaking

 

[Lure]

It seems you are not associating the figures correctly in respect of IPOs and M & A
Those capitalization and financial maneuvres are attracting cash inflow globally
QE does make US assets cheaper to buy for overseas investors relatively speaking

Hmm, you might have a point. Maybe there is a huge cash inflow to US. If the bulk amount is cash, this might be not that good for the economy though. There might be inflation.

25 trillions of more wealth in just 5 years. One can only imagine..

 

[Keel]

Hmm, you might have a point. Maybe there is a huge cash inflow to US. If the bulk amount is cash, this might be not that good for the economy though. There might be inflation.

25 trillions of more wealth in just 5 years. One can only imagine..

Guess who plays the major part in curbing USA's inflation?
No that would not be all cash inflow. Share swaps would be the other most popular option

 

[Edison Chen]

The prolem is how to define the middle class.

wealth anywhere between $10,000-$100,000 range is nothing, we have to compare other figures like the purchasing power, and their real living conditions

 

[SledgeHammer]

China's middle class 10 times larger than that in India
Kounteya Sinha, TNN | Oct 14, 2014, 09.20PM IST


LONDON: The swelling middle class has long been India's strength, driving the country's economy.

But it now seems that China has emerged as home to the world's largest number of people belonging to the "middle class".

Credit Suisse's Global Wealth Report 2014 released on Tuesday says that there are one billion adults at present who belong to the middle class - with wealth anywhere between $10,000-$100,000 range.

With a net worth of $31 trillion, this group holds considerable economic clout

However according to the report, India has just 3% of the global middle class, and that share has changed very little during the past decade.

In contrast, China's share of the middle class has doubled since 2000 and now covers one-third of the global membership, 10 times the share of India.

By 2016, India's middle class was expected to swell up to 267 million people according to the National Council for Applied Economic Research's (NCAER) Centre for Macro Consumer Research. It predicts that by 2015-16, India will be a country of 53.3 million middle class households, translating into 267 million people falling in the category according to 'household income'. As per the criteria, a family with an annual income between Rs 3.4 lakh to Rs 17 lakh (at 2009-10 price levels) falls in the middle class category.

Currently India has 31.4 million middle class households (160 million individuals).

The Credit Suisse report says that the total global household wealth increased in current dollar terms to $263 trillion, or $56,000 per adult in the world, an all-time high for average net worth.

Aggregate household wealth has more than doubled since the start of the millennium from $117 trillion in 2000 to $263 trillion in mid-2014.

Over the same period, personal wealth in India and China has risen by a factor of 3.1 and 4.6 respectively. Allowing for the rise in the adult population, global net worth per adult has increased by 77% from 2000, an average growth rate of 4.3% per annum. Despite recording a 15% decline during the financial crisis, wealth per adult has increased each year since 2008 and is now 7% above its pre-crisis peak.

India has seen rapid growth in wealth measured in domestic terms since the year 2000. In rupees, wealth per adult has grown quite steadily, averaging an 8% annual increase over

2000-2014. Until the global financial crisis, wealth also rose strongly in US dollar terms, from $2,040 in 2000 to $5,100 in 2007. After falling 25% in 2008, it rebounded, reaching $ 5,400 in 2010, but then fell 13% in 2011 due to adverse exchange rate movements.

"As is common in the developing world, household wealth in India is heavily skewed towards property and other real assets, which make up 86% of estimated household assets".

While wealth has been rising strongly in India, and the ranks of the middle class and wealthy have been swelling, not everyone has shared in this growth and there is still a great deal of poverty. This is reflected in the fact that 95% of the adult population has wealth below $10,000.

At the other end of the scale, a very small proportion of the population (just 0.3%) has a net worth over $100,000.

However, due to India's large population, this translates into 2.4 million people. India has 238,000 members of the top 1% of global wealth holders, which equates to a 0.5% share.

The report says "We estimate that 1,000 adults have wealth over $50 million and 650 people own more than $100 million".

India will also see a 61% increase in the number of millionaires between 2014 and 2019 - 182 now to 294 millionaires in 2019.

For the first time this year, more than 400 million adults globally have wealth above $100,000, against 217 million at the start of the century.

China's middle class 10 times larger than that in India - The Times of India

Why don't you read it more closely.

"In contrast, China's share of the middle class has doubled since 2000 and now covers one-third of the global membership, 10 times the share of India."

Is your respect contingent on others stomaching your lies? You sound like an abusive person. Either source your claims or repudiate them.

Read the article itself, it says India's middle class population is 160 million, what is the total population of China? High IQ on display here.

 

[bobsm]

Read the article itself, it says India's middle class population is 160 million, what is the total population of China? High IQ on display here.

You are assuming the average number people in an Indian household is the same as a Chinese household. You do remember, although loosen recently, China still has a one child policy.

"Currently India has 31.4 million middle class households (160 million individuals)." That is an average of 5+ per family.