The acronym Chindia (Kindia) has recently been called the new economic system - a combination of rapidly growing economies of China and India, which are entrusted with the main hopes for overcoming the global economic crisis. In 2009, these countries demonstrated a convincing GDP growth: China by 8.7%, India by 6.7%. Prospects for 2010 are even more rosy - China should add 10.1% (experts forecast Merril Lynch), and India - 7% (forecast by IMF experts). If you consider that the most optimistic forecast for the US for 2010 provides for GDP growth of 2.5%, Japan - 0.9%, and the EU - 0.6% (UN experts forecast), then Kindia really can be considered as the main , And perhaps the only reliable generator of consumer demand, capable of keeping afloat the luxury markets and the diamond market in the first place.
Currently, about 1% of Chinese and Indian citizens have incomes equal to or larger than the average incomes of US citizens. But, given the huge population - only according to official statistics 1.3 billion in China and 1.2 billion in India - the absolute number of people potentially able to acquire luxury goods is approaching 250 million. And if we take into account the significant amount of " Informal sector ", then, most likely, this figure will exceed 250 million, which is already comparable with the US population.
The number of official holders of billions of states at the end of 2009 - 130 in China and 52 in India - also looks quite impressive (in the US - 359). Expert estimates of the number of millionth states strongly differ mainly due to the problem with data on the "informal sector": Boston Consulting Group, for example, estimates the number of Chinese millionaires at the end of 2009 at 450,000, and the Shanghai Hurun Report agency is inclined to estimate the number of " Hidden Chinese millionaires "in 800 thousand. According to India, the data fluctuates in the range of 130-300 thousand owners of millionth states. If we take into account the estimates of the cumulative number of millionth states in Kindia, taking into account the "informal sector", we must admit that their number has already exceeded a million (in the US about 4 million). It should also take into account the qualitative changes in the wealthy layer: When the first list of the richest people of China was compiled in 1999, the "entry fee" in the top 50 was $ 6 million. Now the lower bar, allowing to get into the first thousand richest Chinese, is $ 150 million; From 2004 to 2009, the average income of the richest 10 percent grew by 255% (an assessment by Credit Suisse experts). Since 2004, the savings rate in China has fallen by half - from 24% to 12%.
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