The rise of Asia's middle class There has been considerable interest in recent years in the impressive emergence and growth of the Asian middle class, particularly in the wake of the “Great Recession” of 2008–09 in the United States (US) and Europe. Policymakers are wondering how great a role the Asian middle class can play in the coming years and decades in the necessary rebalancing of the world economy. US and European households are engaged in a long and painful process of deleveraging—increasing savings to reduce high debt levels and rebuild lost wealth—which will limit the extent to which they can drive global consumption. ...
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