MIDDLE CLASS AND HOUSEHOLD DEBT IN THE 30 MOST POPULOUS COUNTRIES, 2000 AND 2018 Many large developing economies have seen their middle classes expand rapidly during the past 20 years. However, households in most advanced and developing economies have taken on increasing levels of debt as they have been squeezed by a higher cost of living. 2000 MIDDLE CLASS AND HOUSEHOLD DEBT IN THE 30 LARGEST COUNTRIES, 2000 AND 2018 2018 Percent of population with $10/day-$110/day income Advanced economies Developing economies 100 80 60 40 20 0 1 1 1 1 1 1 1 1 1 France JapanGermanySpainItalyRussiaTurkeyThailandBrazilIranChinaMexicoColombiaVietnamIndonesiaMyanmarPakistanEgyptIndiaKenyaEthiopiaNigeria South Korea United States South AfricaPhilippinesBangladeshTanzaniaDR Congo 0 United Kingdom 20 40 60 80 100 Household debt as a percent of GDP 1 Household debt data is not available. Source: World Bank, IMF. In advanced economies, the middle class is has increased in 19 of 32 countries between contracting with many rising to higher in- 2007 and 2016, including in France, Germany, comes and a smaller portion dropping below Italy, and Spain, while the majority of those the poverty line. Moreover, the middle class that left the middle class across all advanced in many countries is strained by rising costs economies rose to higher income levels. This for housing, healthcare, and education. The re昀氀ects the trend towards income polarization, percent of the population falling below the in which the number of workers in low-income national poverty line in advanced economies jobs and the number in high-income expands A MORE CONTESTED WORLD 25