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Global Middle Class To Hit 3 Billion by 2020

GLOBAL MIDDLE CLAS 2020 to hit 3 billion by ON MARCH 14 IN MEXICO CITY, THE UNITED NATIONS DEVELOPMENT PROGRAMME (UNDP) LAUNCHES ITS FLAGSHIP HUMAN DEVELOPMENT REPORT. UN .D GLOBALLY RECOGNISED AS A RELIABLE INDICATOR OF A COUNTRY'S CAPACITY TO CARE FOR ITS CITIZENS, THE HUMAN DEVELOPMENT INDEX (HDI) MEASURES A RANGE OF FACTORS FROM PUBLIC HEALTH TO EDUCATION THIS YEAR'S DOCUMENT IS CALLED "THE RISE OF THE SOUTH" IT HIGHLIGHTS THE HISTORICALLY UNPRECEDENTED RATE OF ECONOMIC DEVELOPMENT IN ASIA, AFRICA & LATIN AMERICA. 2010 2030 PEOPLE IN EXTREME PEOPLE IN EXTREME POVERTY (MILLIONS) POVERTY (MILLIONS) ARAB STATES EAST ASIA AND PACIFIC CHINA EUROPE CENTRAL ASIA LATIN AMERICA SOUTH ASIA INDIA SUB SAHARAN AFRICA 300 225 150 75 75 150 225 300 1,212 M WORLD 627 POVERTY RATES 50 ARE IN DECLINE FROM VIETNAM TO RWANDA THE SIZE OF THE MIDDLE CLASS HAS BALLOONED IN SOUTH KOREA, FOR EXAMPLE WITH EVEN MORE RAPID GROWTH EXPECTED IN BRAZIL RUSSIA INDIA CHINA BY 2020, THE REPORT PROJECTS, THE COMBINED ECONOMIC OUTPUT OF THE THREE LEADING DEVELOPING COUNTRIES (BRAZIL, CHINA AND INDIA) WILL SURPASS THE TOTAL GDP (GROSS DOMESTIC PRODUCT) OF CANADA, FRANCE, GERMANY, ITALY, UK AND US. MUCH OF THIS EXPANSION IS A RESULT OF NEW TRADE PARTNERSHIPS WITHIN THE SOUTH. YET THE BRIC NATIONS ARE NOT THE ONLY HIGH ACHIEVERS. BANGLADESH, SOUTH AFRICA AND TURKEY ARE AMONG THE OTHER COUNTRIES THAT HAVE LOGGED HIGH RATES OF IMPROVEMENT. TURKEY BANGLADESH SOUTH AFRICA AS A SHARE OF WORLD MERCHANDISE TRADE, SOUTH-SOUTH TRADE MORE THAN TRIPLED OVER 1980-2011, WHILE NORTH-NORTH TRADE DECLINED. THE AUTHORITATIVE BENCHMARK HDI SHOWED THAT NO COUNTRY FOR WHICH DATA WAS AVAILABLE HAD A LOWER VALUE IN 2012 THAN IN 2000, WHICH IS REMARKABLE AND OPTIMISTIC. EXCEEDING EXPECTATIONS: MORE THAN 40 COUNTRIES OF THE SOUTH EXPERIENCED SIGNIFICANTLY GREATER HDI GAINS SINCE 1990 THÂN WOULD HAVE BEEN PREDICTED BASED ON THEIR PREVIOUS HDI PERFORMANCE. THE MIDDLE CLASS IN THE SOUTH IS PROJECTED TO GROW MASSIVELY IN THE ASIA-PACIFIC REGION - FROM HALF A BILLION IN 2009 त 1.7 BILLION IN 2020 3.2 BILLION IN 2030 MIDDLE CLASS POPULATION (BILLIONS) 0.105 0.032 0.234 0.107 0.181 0.313 0.680 0.664 2009 0.322 2030 0.338 WORLD: 1.845 BILLION WORLD: 4.884 BILLION 0.525 3.228 CENTRAL & SOUTH AMERICA MIDDLE EAST & NORTH AFF EUROPE ASIA-PACIFIC NORTH AMERICA SUB-SAHARAN AFRICA BY LINKING DATA FROM THE PAST TO PREDICTIONS FOR THE FUTURE, THE REPORT ALSO AIMS TO INFLUENCE POLICIES AND SUSTAIN THE POSITIVE TRANSFORMATION INTO A MORE DEVELOPED WORLD IN 1990, THE FIRST HUMAN DEVELOPMENT REPORT WAS PIONEERED BY LATE PAKISTANI ECONOMIST MAHBUB UL HAQ & INDIAN NOBEL LAUREATE AMARTYA SEN IN IT, THEY DECLARED: "PEOPLE ARE THE REAL WEALTH OF A NATION." This is partially a numbers story for the middle class. People becoming better connected can also share middle class values. But when you look at future challenges you see there's a youth bulge in some countries, while others are ageing rather fast and getting old before becoming rich. It's important to influence demography through education. KHALID MALIK THE DIRECTOR OF THE HUMAN DEVELOPMENT REPORT OFFICE told Al Jazeera: If present policies continue for Africa, in 30 years the population will double. The number of poor people will go up, not down - even if the percentage marginally comes down. So we should aggressively pursue [other] policies to bring that down quite rapidly. ALJAZEERA BY NC SA

Global Middle Class To Hit 3 Billion by 2020

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On March 14 The United Nations Development Programme (UNDP) launches its flagship Human Development Index Report

Publisher

Al Jazeera

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Politics
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