Signal World Bank forecasts cited as offsetting the slowdown in developed markets

Summary

The Megatrends 2040 report argues that the growth of the global middle class is powerful enough to fully compensate for slower income growth in developed markets, citing World Bank forecasts. The point appears in its discussion of the middle class as a driving force for economic growth. According to the report, this group is expanding faster than other classes and taking a growing share of total income, raising overall purchasing power and global demand. Most of the expansion is expected in Asia, especially in China and India. The same consumption shift, however, is projected to push up demand for food, water and energy considerably by 2030.