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Consumptionomics by Chandran Nair

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1

ASIA ARRIVES – AND WANTS IT ALL

Asia stands at the threshold of consumption. Across China, India and south-east Asia, hundreds of millions of people are buying mobile phones and refrigerators, eating in McDonald’s and KFC, and drinking Coke and Pepsi. But these are just the advance troops. Over the next decade and beyond, they will be joined by two to three billion more consumers, buying motorbikes and cars, upgrading to iPhones and high-definition TVs, and moving to cities where they can buy their own homes.

This is the dream that has kept Asia moving forward. Governments made fast-track growth a policy priority. They lowered barriers for multinational business. They told their populations that prosperity for all was achievable within a generation, ...

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