3. Rising Chinese consumers

The American middle class was the growth engine of the world economy throughout the 20th century. Now, the engine is the Asia-Pacific region, which will account for two-thirds of the world’s middle class by 2030. As urbanization accelerates, consumer spending is becoming more like the West’s middle class. Urban Chinese are shopping to meet emotional needs, driving a skyrocketing demand for middle-class goods, foods, and entertainment.

As an example, China consumed more than 13 million tons of chicken in 2012—more than the US. Chinese chicken consumption, which grew 54 percent from 2005 to 2010, is expected to grow another 46 percent during the next five years. For more evidence, look no further than the fact that the largest Chinese acquisition of a US company had nothing to do with technology, automobiles, or energy. In 2013, China’s Shuanghui International spent $7.1 billion to buy the American company Smithfield, the world’s largest pig breeder and processor. It is no surprise, then, that agri-business is one of China’s hottest new industries.