There are more wealthy Chinese than Americans for the first time

A new report from Credit Suisse shows that wealth in China is ticking up, and the country now accounts for 100 million of the richest 10% of people in the world. There are 99 million Americans in the same category.

The average American is also still much richer than their Chinese counterparts, with US wealth per adult at $432,365 compared with $58,544 in China. "Trade conditions and debt levels are causing concern, but signs for the coming years are otherwise fairly positive," Credit Suisse observed in its annual Global Wealth Report.

Still, the picture of wealth inequality since the 2008 financial crisis is complicated. While artificially low interest rates and bond-buying programs from central banks led to a boom in asset prices, raising the share of the top 1% of wealth holders, inequality"continued to decline for those below" that segment, Credit Suisse notes.

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.

Because there are more Chinese in the world...

I agree with that.

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