The Sun Rises in the East (Part 2)
The sun isn't the only thing rising in the East. In 2030, global middle class spending is estimated to be $64 trillion per year. That's $29 trillion more than present, an amount equivalent to the current size of the US and Chinese economies combined.
Of this $29 trillion in additional spending, $28 trillion will come from emerging markets.
We continue to look for opportunities and companies that benefit from this tremendous long term tailwind in the growth of the emerging market middle class consumption. Approximately 25% of our current International portfolio is exposed to this strong trend.
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