Here are the materials that we reviewed and found useful to prepare this commentary on the Rise of the Asian Consumer.


The Unprecedented Expansion of the Global Middle Class – An Update, Homi Kharas, Working Paper 100, Brookings, 2017

The Squeezed Middle Class in OECD and Emerging Countries: Myths and Realities, 2016

McKinsey & Co.: Meet the 2020 Chinese Consumer, Yuval Atsmon et al., McKinsey & Company, 2012

Credit Suisse: Emerging Consumer Survey 2018, Research Institute, Credit Suisse

Credit Suisse: India Ranks First in Emerging Consumer Survey 2017

The Multi-Decade Asian Consumer, Joohee An, Mirae Asset Global Investments, 2017


Abacus: Winning Through the Power of Law, 2018

Special Solari Report: Seeking U.S.-China Balance with Stephen Roach, 2014

3rd Quarter 2015 Wrap Up: The Chinese Stock Market

Food for the Soul: Wolf Warrior 2, 2015


Book Review: The South China Sea: The Struggle for Power in Asia by Bill Hayton

Book Review: What Chinese Want: Culture, Communism, and China’s Modern Consumer by Tom Doctoroff

Book Review: The Accidental Super Power: The Next Generation of American Preeminence and the Coming Global Disorder by Peter Zeihan

Book Review: Asia’s Space Race: National Motivations, Regional Rivalries, and International Risks by James Clay Moltz

Book Review: China Rx: Exposing the Risks of America’s Dependence on China for Medicine by Rosemary Gibson and Janardan Prasad Singh

Guanxi (The Art of Relationships): Microsoft, China, and Bill Gates’s Plan to Win the Road Ahead
by Robert Buderi and Gregory T. Huang


500 Years of GDP: A Tale of Two Countries, Wendell Cox,, 2015

Navigating China’s Rise, Wing Thye Woo, Brookings Global Economy and Development, 2016

The Uprising Global Middle Class,

The Rise of the Asian Consumer, Michael Schuman, U.S. News & World Report, 2018

Consumption in China: Ten Trends for the Next 10 Years, Bruno Lannes et al., Bain & Company, 2018

The Rise of China’s Middle-Class Consumer, Erik R. Peterson and Courtney Rickert McCaffrey, Global Business Policy Council, AT Kearney

McKinsey: The “Chinese Consumer” No Longer Exists. Here’s Why, Jenny W. Hsu, Alizila, 2017

The Rise of Chinese Consumerism: Art and Luxury, by Allie Feuerlein, St Andrews Foreign Affairs Review, 2016

The Economist:

Made in Asia for Asia: How the rise of of its middle class is remaking the world economy, Peter Wong, South China Morning Post, 2017

Asia’s Weapons of Mass Consumption, Deloitte Insights, 2017

Credit Suisse: The Chinese Consumer in 2017: The Lifestyle Upgrade

Yao Chen – Chinese Blogger with 80MM Followers

A Well-Kept Open Secret: Washington Is Behind India’s Brutal Experiment of Abolishing Cash

Key Facts about Asian Americans, a Diverse and Growing Population by Gustavo Lopez, Neil G. Ruiz, and Eileen Patten, Pew Research

Income Inequality in the US Is Rising, Most Rapidly Among Asians, Pew Research by Rakesh Kochhar and Anthony Ciffuffo

2008: China is Top Holder of Freddie Mac and Fannie Mae

China Exceeds US in Healthy Life Span for the First Time, Says WHO


Statista: The Asian Middle Class on the Rise

Statista: Forecast of the Global Middle Class Population from 2015 to 2030, by Region (in Millions)

World Ranking by Average IQ

Wikipedia: Overseas Chinese

Wikipedia: Non-Resident Indians

US Treasury: Securities (c): Annual Cross-U.S. Border Portfolio Holdings


Sir James Goldsmith: Globalization Warning, 2004

Hans Rosling: Asia’s Rise – How and When, TED, 2009

Martin Jacques: Understanding the Rise of China, TED, 2011


Bend Schmitt: The Century of the Asian Consumer, 2013

Who Is the Asia Pacific Consumer?, Nielson, 2014

Death by China (Movie by Peter Navarrow)

China’s Millionaire Migration, 2016

The Rise of the Asian Billionaire, CGTN, 2017

Alibaba’s Hema Supermarket Is Changing China’s Retail Game, 2017

China’s Trillion Dollar Plan to Dominate Global Trade, Vox, 2018


Goldman Sachs: The Rise of China’s Consumer Class

Worldwide Institute: The State of Consumption Today

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