Your looking at it from a narrow perspective.

There are millions of middle class households living pretty comfortable lives in Africa, India, China, ASEAN, and Central Asia that were living hand-to-mouth 20 years ago.

And I don’t mean middle class by developing country standards, I mean middle class by London, UK, standards.

So it pretty much is a ‘utopia’ for them, assuming they can keep it.

Of course that’s cold comfort for households in London regressing to the global average, but that’s the inherent nature of rising above and falling towards averages.