The Pew Research Center report, “A Global Middle Class Is More Promise than Reality,” which was released a few days ago reports that although global poverty rates have improved, more than half of the globe can be considered “low income” and15%, “poor.” The Millennial Development Group reports similar findings.
An article in The New York Times today notes that, according to these 2 reports:
The most visible change was in China. Its share of the global middle class quadrupled over the course of 20 years, becoming 30 percent of all middle-income people in the world in 2011, from barely 8 percent in 2001. People in South America also moved up the ladder. The middle-income population in Western Europe dipped, “as people moved into higher income brackets.”