rneht Chinese Middle Class Growing 100% 1 70%J, 60% 50% 40% 30% 20% 10% 0% Poor Middle Class Rich .2009 .2020 ■2030 Source: World Bank, Devische Bank Global Markets. Deutsche Bank Wean Management Europeans Spending Again 20.0% 15.0% • 10.0% 5.0% • 0.0% -5.0% -10.0% -15O% -25.0% Jun-04 Dec-05 Jun-07