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Week of 6.20.08

India Rising

Video: India Rising

The global middle class is expected to swell by more than 1 billion people over the next decade, with the biggest increases in China and India. While millions are being lifted out of poverty as a result, the booming middle class is also consuming more global resources. As a result, prices for everything from steel to gasoline to food are soaring.

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This week NOW reports from Pune, India, where college graduates are getting tech jobs, traditional families are flocking to the new mall, and professionals are hoping their new-found economic might will make their country an even bigger global player. But can America's middle-class—and the rest of the world—afford this unprecedented shift in the global economy?

The world is buying like never before, but who's paying the price?

Related Links:

Professionals Party of India

McKinsey Global Institute: The 'Bird of Gold': The Rise of India's Consumer Market

McKinsey Global Institute: From 'Made in China' to 'Sold in China': The Rise of the Chinese Urban Consumer