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The rise of the Asian consumer

June 04, 2013

By 2025, 12 years from now the Asian consumer class will number 2 B people and they will account for 1/3 of global consumption. The north will feel the effects of Asian demand through metals and oil and gas demand.

According to Dominic Martin, the Global Managing Director of McKinsey & Co. by 2030 global steel demand will grow by 80 %, energy demand by 33%. The Asian investment in infrastructure is huge.

The Chinese middle class is burgeoning—80 million traveled abroad last year. China’s per capital GDP is expected to double in a few short years, from $5K to $10K. China will within a decade become the largest economy in the world.

The graphic from the Economist shows the patterns of economic growth throughout the world and Asia and Africa lead the way.

The large, and increasingly wealthy populations in south-east Asia mean opportunities for northern resource development.


Asia has been growing more prosperous for a generation. Urbanization is tied to wealth creation and the demand for metals and energy. The rise of the Asian consumer means ultimately higher demand for resources from the northern part of North America.



Source: Economist.com