Westerners better off
11 October 2011, 15:43
London - The United States has 10 times more affluent households than China or India, research shows, undermining arguments the global economy can be sustained by consumption in emerging markets.
A survey of affluent households around the world - defined as having wealth of more than $100 000 - by research firm TNS found 80% of such people live in Western countries.
While the number of affluent households in China and India is 3 million each, the US has more than 31 million, the survey shows.
The results challenge hopes that the boom economies of Asia can supplant an ailing US as the world's consumer of last resort, and keep global growth ticking over.
Read the full story on Fin24.com.