China

China has 45 tier 1-3 cities today, located mainly in the coastal provinces, where the bulk of development is occurring.

A tier 1 city is defined as having a registered population greater than 5.1 million people and per capita GDP greater than US$5,900; a tier 2 city is defined as having either a registered population greater than 5.1 million or GDP /capita greater than US$5,900, and a tier 3 city is defined as having a registered population of 1.7 million to 5.1 and a GDP/ capita of US$3,000- $5,900.

By 2010 (4 years), however, the number of tier 1-3 cities could nearly double to 86 and by 2025, the number could expand further to 147!

As large numbers of people attempt to improve their standard of living (globally), the impact on commodities is expected to be enormous. Thus the new long term infrastructure secular bull market is on...and only a couple of years old.....