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The Second Asia Shock; First came the workers, now the shoppers. Is the world ready?
Byline: Diana Farrell and Eric Beinhocker
The growth stories of China and India have always been different--China is well known for being the world's factory, while India's new wealth has been built on services. But the result is the same--a consumer boom that will reshape global markets. Over the next twenty years, 213 million Chinese households and 123 million Indian ones will begin to have discretionary income. That means 1.2 billion people hitting the world's consumer markets--a shopping spree of historic proportions.
If both countries continue on roughly their current growth paths, we will witness the creation of massive new consumer markets, as ...
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Source: HighBeam Research, The Second Asia Shock; First came the workers, now the shoppers. Is...