This post was edited by futsanglung at 2013-6-20 09:06|
As Seen on the BBC website
Can China's middle class spend the world out of recession?By John SudworthBBC News, Zhengzhou, China
The Zhangs are happy to call themselves middle classWatch
Meet the Zhangs, one of China's new middle-class families who - with some 320 million credit cards in circulation in the country - some economists are going to spend their way to a revival of the global economy.
Zhang Dongyang runs his own construction company in Zhengzhou, one of China's fastest growing cities.
His wife, Zhang Min, is a hospital administrator, and together they earn about $40,000 (£25,000) a year.
They own their own apartment, mortgage free, drive a Japanese-made Lexus car and will, they say, soon start taking not one, but two holidays a year.
Their six-year-old son, Zhang Zhiye, attends a private school.
"Yes I do feel middle class," Mr Zhang tells me, adding that it's now become acceptable to admit it.
"People who are more capable rise to the top. This is natural. It is the survival of the fittest."
Of course, the Zhangs aren't going to single-handedly rescue the world from economic misery.
But their spending, along with millions of other middle-class Chinese consumers is, in these doom-laden times, arguably one of the few bright spots on which a future global recovery might be based.Zhengzhou, which has a famous golf course, has experienced rapid change