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Page last updated at 10:28 GMT, Tuesday, 18 December 2012

David Michael: China's middle class 'will double'

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Figures show growth in China has been at its slowest in more than three years.

But despite that, the spending power of its middle class offers a huge opportunity for Western companies, if they are able and willing to exploit it - according to David Michael, co-author of The $10 Trillion Dollar Prize and a senior partner at Boston Consulting Group.

Speaking to the Today programme, he said: "We actually see quite positive outlook for the Chinese economy. The big picture is tremendous growth in China.

"By the end of 2013, from the year 2009, the Chinese economy will have doubled. If we look at the next 10 years, we expect that the middle class in China will double again."

"The big risk for companies is that they miss the long-term opportunity here."


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