For the first time, there are more rich Chinese than Americans in the top 10%
For the first time, there are more rich Chinese than Americans in the top 10%.
But China holds claim to a growing piece of the pie, replacing Europe as the principal engine of global wealth growth. That's in spite of the trade war that's weighing on the nation's economy.
The share held by the bottom 90% now accounts for 18% of global wealth, up from 11% in 2000. Since 2016, the share held by the top 1% has broadly eased back, per the bank.Read more: CNN Philippines
Hurray for communism, I guess? Yes, this is definitely what Mao envisioned. 😂😂 chinese rich men can't enjoy the fruits of their labor for the PLA will kidnap them and sent to concentration camp for re-education to tow their line. I agree with that. Because there are more Chinese in the world...
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