The Future of the Chinese Middle Class.docVIP

The Future of the Chinese Middle Class 　　When the Rolex store in Beijing’s swanky Sanlitun shopping district shut its doors earlier this year due to lackluster sales， it was taken as a sign that the government’s austerity campaign， launched in December by Xi Jinping， had begun to take effect. 　　At the same time， upscale Beijing restaurants in January saw revenue decline an average 35 percent on the previous year. A certain sense of irony accompanies this new frugal approach to life among the country’s upper class ? just as their leaders advocate increased domestic consumption， those with