China has overtaken the U.S. in the number of citizens in the global top 10% of wealth, a report by Credit Suisse has revealed.
The U.S., China and Europe led the way in global wealth growth with $3.8 trillion for the U.S., $1.9 trillion for China and $1.1 trillion for Europe. Nannette Hechler-Fayd’herbe, CIO of wealth management at Credit Suisse adds that “Despite the trade tension between U.S. and China over the past 12 months, both countries have fared strongly in wealth creation contributing $3.8 trillion and $1.9 trillion respectively.”
However, the report comes after data released Friday showed China’s economic expansion slowing to just 6.0%, the lowest mark in almost three decades.
Source: Loan Digest (loandigest.net)
it’s happening
Certainly, Someone has to own all that USA debt
What about the real invaded and oppressed China beyond the narrow South China land area? Their wealth is in the lowest 10% in the world.
Shocking for a nation that has close to quadruple our population.
Yes. The world needs balance. No one should be bigger or smaller either were all rich or all poor all with nukes or no nukes.
Can help me get do business in China? I'm graduate from KNUST and studied accounting and finance
Congratulations neighboring country.
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