Charles Robertson ,
Global Chief Economist, Renaissance Capital
Chandrajit Banerjee ,
Director General, CII
Sergei Borisov ,
Vice President for Small Businesses Development, Sberbank
Sergey Katyrin ,
President, Chamber of Commerce and Industry of the Russian Federation
George Magnus ,
Senior Economic Adviser, UBS Investment Bank; Author, ‘Uprising’
Hu Shuli ,
Editor-in-Chief, Caixin Media Company
The urbanization of the population is important to expand the middle class.
The middle class will increase to 500 million people by 2020 – this is a big number and a big target.
What happens to the development of the middle class really depends on what happens politically in terms of the development of constructive, strong government institutions – the right balance between the role of the state and the role of the private sector.
I believe the future of Russia’s middle class largely depends on the rapid development of small and medium-sized business.
In many respects, the middle class will be the dominant power determining political and economic decision-making not only in Russia, but in the other BRICS countries as well – and maybe even beyond.
We stand at the cusp of a huge potential to have a much, much more prosperous world in the next twenty years as more and more people potentially can become a so-called middle class in terms of rising income.