Rising incomes in Asia will probably be the most important investment story of the 2020s. Asia is home to 60% of the world's population, with both China and India each accounting for about 18% of the global total.
As incomes rise, the Asian middle class is expected to grow by about 1.2 billion people by 2030, significantly boosting consumption. As a result, Asia is an investment opportunity that's simply too big to ignore and warrants a larger place in many portfolios. China's rising incomes Visitors to Shanghai would be forgiven for thinking that China's development is mostly behind it. Indeed, China's growth has already been spectacular, rising from just 2% of global GDP in 1990 to about 16% in 2020. What's more, China is already responsible for 35% of global demand for luxury goods. So ...
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