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Reports of the demise of the middle class have been exaggerated: Credit Suisse

Despite the widespread, but mostly anecdotal narrative of the COVID-19 pandemic weighing on the middle class around the world, a report by Credit Suisse shows that they are not only thriving, but more resilient than ever, mostly due to the rise of wealth in China. The first-in-first out characteristic of the Chinese economy has cemented its position as the world’s…

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