30 Jul 2015 --- The emergence of a "new middle class" is an important economic phenomenon in many emerging markets, with prominent examples being Brazil, China, India, Indonesia and Turkey. In this process, a substantial mass of low-income households experience upward socio-economic mobility reflected in higher incomes. As a result, they begin to consume goods and services that they could not previously afford. Demand by these "new consumers" may potentially provide an engine of growth for the global economy.
