commonplace in recent years.
Chinanews, Beijing, Dec. 18 – In ten years, Chinese middle class, as defined by people with an annual salary between US$7,500 – US$25,000, will reach 100 million, according to a recent survey jointly carried out by HSBC and Fudan University.International financial institutions might covet the potential market that might be created by this emerging social group. However nike free run 3, the truth is – it might be too early now to define people who have made these high earnings as belonging to the middle class group. In China, people who currently make US$7,500 – US$25,000 a year should be categorized as the elite class, not middle class, because only a few people can make so much money, the China Youth Daily reported.In Western countries, however, the middle class, mostly made up of the white collar workers, is considered as the backbone of society because they form the overwhelming majority part of the social spectrum. The society where middle class dominates will develop in the olive shape, while the polarized society will develop in the pyramid shape, with the poor forming the majority part of the society and the rich standing at the top of the social class structure. The polarized society is disadvantageous to social stability and development. On the other hand, when the middle class become the mainstream in society, they will act as a somewhat buffer zone between the elite class and people at the bottom of society nike free run 3 mens. In this society, middle class becomes the main consumption group and their existence enables consumption market to remain prosperous and that's why global financial institutions always eye at the middle class group when they try to enlarge their business.
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