The act of paying relatively decent wages for the cost of living has spurred a new phenomenon in many formerly impoverished countries: a middle class. While that may not sound like a big deal to the average American, it is a huge deal for the rest of the world.
Taken as a whole, a solid middle class absolutely dwarfs the spending power of anyone else. While the ultra-rich may have a whole bunch of money, there are only so many of them around. To have a strong local economy, instead of simply an export-driven one, a country needs a solid middle class.
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