Thursday, January 20, 2005
"We set the number according to the World Bank's criteria of the medium level of international GDP per capita, ranging from US$3,470 to US$8,000, and transferred it after currency exchange, purchasing power conversion and GDP per capital to average income conversion," Cheng said.
"The proportion of middle class in China will expand to 45 percent in 2020 from 5 percent today."
So, according to these numbers, there are 65 million Chinese who earn that much and, if China's population grows as fast as the UN thinks it will, the "middle class" will expand to 720 million by 2020. Then again, I wonder if the "middle class" will be measured in dollars in 2020.
Some more facts about China's labor force and population.