link : China Overtakes US With The Highest Global Net Worth
China Overtakes US With The Highest Global Net Worth
* China's wealth rocketed to $120 trillion from a slender $7 trillion in 2000
* The United States saw its net worth double over the same period to $90
* Report found that historic link between net worth and GDP has been severed
* This has been driven by soaring asset prices and declining interest rates
Global net worth has trebled over the last two decades, with China accounting for a third of its growth, according to a new report.
China's wealth rocketed to $120 trillion from a slender $7 trillion in 2000, the year before it joined the World Trade Organization, accelerating its boom.
The United States, held back by smaller real estate gains, saw its net worth double over the same period to $90 trillion.
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Update: Global Wealth Surges as China Overtakes U.S. to Grab Top Spot (Bloomberg)
WNU Editor: China's growth rate has declined slightly due to Covid, but it is going to continue to expand significantly in the coming years even with all the problems that China has.
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