One of the great myths of our time has been that vast numbers of people in the developing world have suddenly become “middle class”. This myth seemed to grow out of a confusion between the phrase “middle income” and “middle class”. Every country has people who are “middle income”. But as we discussed in Boom, Gloom […]
Chemicals and the Economy
China focuses on the rural economy
China was the first major country to recognise the need for economic restructuring, back in August. Today, the State Council announced further details of its plans, as Q3 GDP growth slowed to 9%. Agriculture and rural development are now the key priorities. This builds on the recent Communist Party decision, described as being of “historic […]
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