Better in what way? If you mean better as in a growing economy than share the wealth. Let the middle class expand. But the problem is that the middle class consumes far more resources for every dollar they earn than billionaires do. As the BRIC nation's general standard of living increases, and the west's general standard declines, resource consumption will go vertical.
And since that isn't sustainable some compromise must be reached in order to hold societies together.
Back the truck up and
How you would answer the simple question of:
Which do you think is better for a US factory worker...
6,000 Chinese with $7 Billion to spend,
or
7 Billion Chinese with $60,000 to spend?
Think about the guy on the slime line in Alaska canning salmon.
Think about the woman who inspects new Ford Trucks before they're shipped.
Think about the Night Auditor at the Marriott in LA.
Think about the couple who run the bar and sandwich shop next to the Honda factory in Ohio.
Now,
Which do you think is better for the US,
6,000 Chinese with $7 Billion each to spend,
or
7 Billion Chinese with $60,000 each to spend?
If the executives and line workers alike at Ford and BMW don't have big, throbbing boners over this, they need to find a new line of work.
I can't answer for the line workers, but we both know what the execs want.
As for the lower classes in both nations: If world wide demand for already scarce resources goes because another third of the world is employed at low wage, low skilled jobs in the developing world then workers in the US are fucked. We already pay about 3-4 times as much for many or most commodities and products than folks do in the developing world.
The line workers in the developing world will end up with more money, but it won't buy much more than they had before. The line workers in the US will see declining purchasing power coupled with declining real wages. Much as we are now, and much as line workers in the developing world are now. Hence the austerity riots, food riots, civil unrest and Wisconsin protests.
Think about this now...
If suddenly 7 Billion people on this planet could afford to buy more than just the basics of food clothing and shelter, wouldn't it be a great time to own or work for a factory that made quality, in demand stuff?
This thinking doesn't fly in the face of the Supply and Demand price curve, it just remembers to consider the resulting changes in production factored against the HUGE variety of organizations on this planet that do indeed produce something.