Non-Westerners have 'spending power of a 1920s American'

Only 20% of income in the West is being spent on food, oil and electricity, compared to 80% in the ‘non Western block', according to JM Finn's Anthony Eaton.

Speaking at the Gemini Investment Management Roadshow, the Global Opportunities fund manager said as income increases in China over the next two decades, the majority of earnings will be spent in the same way, creating real, long-term opportunities in these sectors. “What has changed is we have moved from a world where one billion people were supplied by six billion to one in which seven billion will want the same things. “Broadly speaking the non Western block, made up of around six billion people, has spending power per head of what roughly equates to what the Americans had in the ...