When middle-class families can no longer afford to buy the goods and services that businesses are selling, when people are slipping out of the middle class, it drags down the entire economy from top to bottom.
This reflects the emergence of a middle class with cash to spare for branded goods.
But in Japan many buyers of luxury goods have been ordinary middle-class office workers, some of whom save up for years.
More may come to, as the interest-rate increases bite, hitting instalment payments on cars and household goods, and causing middle-class grief.
As the Chinese middle class continues to grow, China will import more goods and services from abroad.
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America has a stake in Indonesia growing and developing, with prosperity that is broadly shared among the Indonesian people -- because a rising middle class here in Indonesia means new markets for our goods, just as America is a market for goods coming from Indonesia.
Zephyr predicts that rising incomes and the emergence of a stronger new middle class in the emerging countries will substantially increase demand for goods and services.
The newly confident middle class have gleefully abandoned Gandhian austerity for hearty consumerism, splurging on goods and services.
Raising tariffs on these goods could harm millions of middle- and lower-class consumers.
Citing the rise of a new, moneyed middle class and changes in the purchasing behavior of consumers for Brazilian-made goods, Harvard Business School grad Reichel said now is the time to invest in a more online-attuned Brazil.
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Though the big shopping budgets of many Chinese tourists are sustaining the growth of the luxury-goods industry, the bus tours that escort most middle-class Chinese tourists in Europe usually book them into budget motels on the outskirts of Paris.
China will steadily increase the consumption of goods it produces, which is consistent with the growth of the middle class to be 30% of the total population by 2020.
The lower classes spend money on goods and services provided by people working in jobs that pay a middle-class or lower-class wage.
Although basic goods in China are still relatively cheap, it is costly to lead a middle-class life in China.
According to a recent report by the African Development Bank, it is estimated that at least 310 million Africans (about 30% of the population) now fall within the middle-class bracket, which makes for an increased consumer market base demanding to be serviced with new goods, products and services.
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