middle-income group

On a per capita basis, China ranks in the upper end of the “upper middle-income” group of countries as defined by the World Bank.

“Every generation since the baby boom has seen the middle-income group shrink and its economic influence weaken,” a 2019 report from the Organization for Economic Development and Cooperation concluded.

More than 80 percent of the high-income group said the package was too big, but most in the lower-income group and more than a third in the middle-income group said it wasn’t.

The decline among this middle-income group has been even greater, with just 27% now homeowners.

Moreover, the middle-income group was smaller — and the groups at either extreme larger — in the United States than in any of the 11 Western European countries studied.