Indonesian Middle Class Will Reach 141 Million By 2020

Global management consulting firm the Boston Consulting Group is projecting the Indonesian middle class — which currently stands at 74 million — may reach 141 million people in 2020, one of its executives said on Wednesday. Vaishali Rastogi, BCG partner and managing director, told a press conference in Jakarta that the country's middle class would almost double to 141 million by 2020 and added that the nation's buying power would also rise rapidly. "The size of the middle class on Java is projected to [grow], and when compared to the population of Thailand, the middle class on Java will be much bigger," Rastogi said. The consumption trends will also shift from essentials to products that offer facilities and comforts, such as longer lasting household appliances, electronics, cars and financial services. "We conducted this research on seven islands, 33 provinces, 99 cities and 393 districts. This research also analyzed consumer spending data in several main categories, including food and appliances, for September 2012," Rastogi said. She said that most middle class consumers tended to buy things that could improve their quality of life. For example, a total of 63 percent of those questioned said that they were enthusiastic about buying family products such as DVD players and flat screen TVs as a way to save trips to movie theaters. Eddy Tamboto, BCG Jakarta partner and managing director, said that the rising Indonesian middle class needed to be balanced with a more equitable spread of enterprises in the region.  He added that BCG is projecting that in 2020, middle class spending will be much higher, with each family spending at least Rp 2 million for its monthly household needs. "The middle class in Indonesia will continue to rise, and this ... can turn Indonesia into Asia's next big opportunity" Eddy said. A rising middle class leads to a stronger and more stable economy, especially since the Indonesian economy is based on strong domestic consumption. source http://www.thejakartaglobe.com/home/indonesian-middle-class-will-reach-141-million-by-2020-bcg/577668

Bolshoi Ballet Acid Attack: TIME's Interview with the Wife of the Alleged Culprit | TIME.com

http://world.time.com/2013/03/06/exclusive-interview-did-this-bolshoi-ballerina-inspire-an-acid-attack/

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Washington Post

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RIP Hugo Chávez Frías

Venezuela's President Hugo Chávez Frías has died aged 58, after 14 years in power. Chavez had been seriously ill with cancer for more than a year, undergoing several operations in Cuba. He will be given a state funeral in the capital Caracas on Friday. Vice-President Nicolas Maduro will assume the presidency until an election is called within 30 days.

Forget the pursuit of happiness - striving for it will damage your friendships and make you feel lonely

Those who are driven by a quest for happiness are more likely to end up feeling lonely instead, according to a study. This is because they focus on themselves, rather than on their connections with others. As a result, self-seeking individuals end up feeling isolated which reduces their overall sense of well-being. Happiness can be elusive but scientists say it is tied to our connections with others The research, published in the journal Emotion, will chime with the neurotic Sex and the City generation, who stereotypically fret about finding fulfillment. The study authors from the University of Denver and University of California, Berkeley, said: 'Few things seem more natural and functional than wanting to be happy. 'We suggest that, counter to this intuition, valuing happiness may have some surprising negative consequences. 'Striving for happiness might damage people's connections with others and make them lonely.' The team of psychologists carried out two experiments. The first involved 206 men and women aged from 20 to 60 who completed online surveys which assessed how much they value happiness.  Starting a week later participants filled out 14 daily diaries before going to bed, reporting the day's most stressful event, how stressful it was and how lonely they felt. The more participants valued happiness, the more lonely they felt during the stressful events. Researchers said the result held true after controlling for factors such as age, gender and socioeconomic status. Reconnecting with your friends can boost your sense of well-being The second study sought to establish whether it was valuing happiness that caused greater loneliness. It involved 43 female undergraduates who watched an emotionally neutral film-clip and then rated how lonely they felt. Some participants then read a bogus newspaper article, which emphasised the benefits of happiness on relationships, careers and overall well-being. Participants in the control group read the same article but with the word happiness replaced with 'accurate judgment' All then watched a 35-minute film designed to make people feel affiliation and intimacy. The two groups did not differ in terms of feelings of loneliness at the start of the study. But after the experiment and the long film clip, the group manipulated to value happiness more reported feeling significantly greater loneliness. The authors said: 'The current findings present a possible explanation for why a desire for happiness can lead to reduced happiness and well-being. 'It may be that to reap the benefits of happiness people should want it less'.