[11], The 2011 estimates by property analysts state that there are some 89 million empty properties and apartments in China, and that housing development in China is massively oversupplied and overvalued, and is a bubble waiting to burst with serious consequences in the future. By Du Xiaoying in London | China's booming middle class creates opportunities for culture, entertainment industry: business leaders Source: Xinhua| 2019-04-07 16:39:37|Editor: zh. In China, the number of flights taken per person will triple by 2038, from 0.4 in 2018 to 1.4. As consumers, they are early adopters of the latest products and aggressively seek out fashion that can help them stand out from their peers. The New Century Global Center was one of the projects he made possible, in conjunction with the local party secretary, Huang Xinchu (inevitably with a nickname of his own: Digger Huang). Well, this explanation clears up some vagueness, but we still do not have a strict “definition” of a middle class. In the United States last year, there were 2.0 trips per capita. Ex ghost cities are rarely news compared to when they were ghost cities. The government is even trying to get rural-urban migrants to move back to the countryside to start rural businesses. [2], It is an important objective of the Chinese government to promote economic development, launching building developments is an important way of doing this. [19] According to the former Director of China's Housing & Real Estate Administration Bureau, Professor Lin, as of 2008, Beijing had an average of 1.41 individuals per room across the city. Forcible slum clearance in China often involves the destruction of so-called urban villages: densely populated but often chaotically planned former villages that have been swallowed up by the growth of nearby metropolises.

Gone are the days when companies looked at China as a monolithic land of 1 billion potential customers. Third-tier cities will take you too, if you make a minimum investment in local real estate. Groucho Marx was famously unwilling to belong to any club that would have him as a member. And finally, there is a demographic category takes into account education, age, race together with income as wealth indicators. That can nicely be shown on the example of China, which has the largest middle class population but only 2.9% of world wealth income share, compared to some other countries with much less numerous middle class and higher income share, as you will be able to see further down on the list. "[8], This issue of cost of housing in China, was not applicable to the housing market pre-1978 in China. Although this is significantly lower than the $43,861 average of OECD economies, China’s GNI per capita is on the high end among fellow BRICS countries. By contrast, to target Value Seekers, Monitor recommended that the client become more aware of Value Seekers’ tendency to spend time comparing products, shopping at hypermarkets, and buying less expensive products. Unlike US backpackers, they have money and time and backpack mainly to be fashionable and gain new experiences. By 2022, India’s population will have overtaken China’s to become the largest in the world, according to a United Nations report. It has doubled in size .

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