China is expected to account for about 20 percent of global luxury sales in 2015, and in less than a decade, more than three-fourths of China’s urban households will approach middle-class status on a purchasing-power-parity basis.
Madariaga - College of Europe Foundation
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26 Jun 2012
The world economy is undergoing deep systemic and structural transformations. The way the world’s largest economies adjust and manage the transition towards a new and undetermined international economic order will be crucial for prosperity and peace.
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