China 'Could Exhaust Its Gold Mining Reserves In Just Six Years'


  affluent will propel 40% of China's consumption growth and will comprise 35% of all consumer spending in 2020, up from 24% last year, according to BCG. Their spending will grow fivefold to $3.1 trillion in the next eight years. The upper affluent -- those earning between $40,000 and $1 million per year -- will account for 40% of the 280 million, the BCG study said. (BCG puts people whose families have disposal incomes over $1 million per year in a separate category, high net-worth individuals.)