With rising incomes, the share of expenditures for food products declines. The resulting shift in expenditures affects demand patterns and employment structures.
“The Beijing Olympics represent China's grand entrance onto the world stage and confirmation of its new superpower status.”
“To be honest, I'm a bit of a snob now; give me a Four Seasons anywhere in the world and I'm happy. Also, they've just opened a Ritz-Carlton in County Wicklow, Ireland, which is stunning and has great views.”