Which of the following would NOT be generally considered as one of the main reasons for the rapid expansion of middle class in Asia? Provide a brief but clear explanation for your answer.

A.Broad-based economic growth due to fast development in 2nd/3rd industry.

B.A steady increase in labour force participation and improvement in labour market conditions.

C.The majority of central banks in Asia abandoned fixed exchange rate regimes, and adopted floating or managed exchange rate regimes.

D.Infrastructure development caused by rapid urbanisation.