[ExI] For the First Time Ever, the World Is Mostly Middle Class and Largely Old

[JADE AND EUNICE CHANNEL]

"For the purposes of our analysis, we define poor and vulnerable people as
those who live in households with a daily spending power of less than $11
per person per day (in 2011 PPP). This includes extreme poor people (living
on less than $1.90 per day) and vulnerable groups (between $1.90 and $11).
By contrast, middle class and rich households, who dominate global consumer
spending, are defined as those who spend more than $11 per person per
day. (Read
this article
<https://www.brookings.edu/blog/future-development/2018/09/27/a-global-tipping-point-half-the-world-is-now-middle-class-or-wealthier/>
to learn more about these definitions.)"

"If you apply these definitions globally you will see that 2019 was a
pivotal year in global development. We are experiencing a double tipping
point on both age and wealth dimensions. The world today is getting
steadily older—mature, settled adults over the age of 30 are now half the
population and growing. And the world is getting steadily richer—about half
the world is now middle class or richer. When we combine income trends
across demographic segments, we find that there are approximately 2.2
billion *young and poor* and the same number of *old and rich* people,
while there are 1.6 billion *young and rich* and the same number of *old
and poor*."


https://singularityhub.com/2020/03/01/for-the-first-time-ever-the-world-is-mostly-middle-class-and-largely-old/
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