NEW DELHI - Some 800 million Asians will access the middle class in the next 20 years, which will ensure economic growth of countries in the region, according to a study Asian Development Bank (ADB) released Thursday.
The transition from the 800 million people from poverty to middle class "could pose many challenges, but also opens new opportunities unprecedented for the region and the world ", considers the ADB in its study" The rise of the middle class in Asia '.
The report analyzes the entire region excluding Japan and Korea South efine d a member of the middle class as any individual who consumes two to 20 dollars a day.
The biggest rise of the middle class in Asia is expected, of course, the two most populous countries, China and India, which will have each more than 1,000 million people belonging to that class in 2030. China is the Asian country that managed to get out of poverty by more number of inhabitants. Thus, 63% of its population, or 817 million people, had in 2008 middle-class incomes.
India's middle class had in 2008 some 274 million inhabitants, ie a quarter of its population, according to the ADB. With these social changes of Asia will "big producer in the world on a large global consumer," predicts the chief economist of the ADB, Jong-Wha Lee.
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