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China’s middle class

China’s middle class is expected to rise from 430 million to 780 million in the mid-2020s, according to Brookings. It is already the second largest middle class in absolute terms, at 157 million consumers – the US is first – but small in relative terms – only 12% of the population – according to the World Bank. It is expected that  over 70 per cent of China’s population could be middle class by the year 2030.