Cities and The rise of the consuming class. The title of a recent survey directed by
McKinsey Global Institute. At least, a part. It, nevertheless, may confirm, to paraphrase
Mahanth Joishy and
Parag Khanna, that
worldwide, a new class of global cities is emerging combining mega-populations, massive markets, and international ambition.
Still, a certain
Michael Bloomberg, Mayor of New York City recently said:
We're the level of government closest to the majority of the world's people. While nations talk, but too often drag their heels — cities act.
Put it simply, cities are becoming more powerful economic actors in the world economy… than states. According to McKinsley Global Institute, the '600 cities',also known as 'City 600', that will make the largest contribution to a higher global GDP will also generate nearly 65 percent of world economic growth by 2025.
The City 600 comprises over 440 cities in emerging economies, also known as Emerging 440. Or over half of overall growth, new candidates in the global consuming world.
These charts, below, do not need any explanation.
This Emerging 440 will require more resources to respond to its consumers' needs, a population estimated at over 600 million, by 2025. These include: land, food, energy, goods and services, water, housing, transport…
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