Econintersect: McKinsey & Co is continuing to report its research on the changing nature of economic growth. From 2010 to 2015 nearly 2/3 of global GDP growth will occur in 600 cities; nearly half will occur in 443 emerging market cities. McKinsey predicts that around 1 billion middle class consumers will swell to more than 4 billion by 2025. Half of these will live in the 443 emerging market cities.
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In January GEI's Jillian Friessen reviewed the McKinsey research. She found that not all agree that the world economy will become more city-centric and less organized by country. However, she did discuss the importance of recognizing city-cluster centers in how the economy of China is developing. The following map is from that article:
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- The world’s economic center of gravity shifts (Chart Focus Newsletter, McKinsey Quarterly, February 2013)
- McKinsey: Cities as Economic Units Rather than Countries (Jillian Friessen, GEI News, 25 January 2013)
- Unlocking the potential of emerging-market cities (Richard Dobbs, Jaana Remes, and Fabian Schae, McKinsey Quarterly, September 2012)