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In a historic setback, millions are tumbling out of the global middle class

Nearly 150 million slipped down the economic ladder in 2020, the first pullback in almost three decades

Topics
Global economy | middle class | Gross domestic product

Bloomberg 



global economy
Immunisations are proceeding far more slowly in poorer countries that have yet to gain the same access to vaccines as the rich world has.

One of the most economically significant trends of the past few decades has been the emergence of a global . The expectation that this cohort of consumers would continue to grow relentlessly, as rising incomes in developing countries lifted millions out of poverty each year, has been a central assumption in multinationals’ business plans and the portfolio strategies of professional investors.

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First Published: Thu, April 08 2021. 02:23 IST

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