China’s wealth jumped to $120 trillion in
2020 from just $7 trillion in 2000. This
marks a jump of $113 trillion in 20 years,
helping the nation surpass the United
States in terms of net worth
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China overtakes US to become world's
richest nation as global wealth surges
China has gone past the US to become the
richest nation in the world, according to a
new research report. The report, authored
by the research wing of McKinsey & Co, said
that global wealth had tripled over the last
two decades, from $156 trillion in the year
2000 to $514 trillion in 2020.
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The report has been prepared after
examining the national balance sheets of 10
countries, representing more than 60 per
cent of world income. In an interview with
Bloomberg TV, Jan Mischke, a partner at the
McKinsey Global Institute in Zurich, said, “We
are now wealthier than we have ever been.”
According to the data revealed, China has
accounted for almost one-third of the
staggering rise in global wealth. The wealth
of the nation surged from $7 trillion in the
year 2000 to $120 trillion in 2020. The data
tracks the period from one year before the
country became a member of the World
Trade Organisation (WTO), which speeded
up the rise of its economy.
The report analysed the national balance
sheets of 10 countries, which accounted for
over 60 percent of the world's income.
Apart from China and US, the countries in
the report included Germany, France, UK,
Japan, Sweden, Mexico, Canada and
Australia.
As for the US, the net worth of the country
increased to almost $90 trillion in two
decades. In both US and China, the two
biggest global economies, more than two-
thirds of the wealth is concentrated in just
10 percent of the richest households. About
68 percent of the global net worth is stored
in real estate, as per the report.
China’s wealth jumped to $120 trillion in
2020 from just $7 trillion in 2000. This
marks a jump of $113 trillion in 20 years,
helping the nation surpass the United States
in terms of net worth.
The report also indicated that 68 per cent of
global net worth is stored in real estate and
the balance is held in assets such as
infrastructure, machinery and equipment.
Intangible assets like intellectual property
and patents also make up a small amount of
global net worth.
The report by McKinsey & Co also indicated
the steep rise in net worth over the past
two decades has outstripped the increase in
global gross domestic product and has been
fuelled by skyrocketing property prices as a
result of declining interest rates.
The research found that asset prices are
almost 50 per cent above their long-run
average relative to income. That raises
questions about the sustainability of the
wealth boom.https://www.timesnownews.com/business-economy/world-news/article/china-overtakes-us-to-become-worlds-richest-nation-as-global-wealth-surges/832538

mynd44 oam4j lalasticlala seun

China has used it's money to purchase lots
of foreign companies and promoting
attractive schemes in their country. More ever the invention of corona virus by China finally effective.

America is still the greatest nation on earth so chinko can Bleep off

That's why one president go chop plenty loan use people as collateral

Buhari will run to them for another loan now

Malory:
America is still the greatest nation on earth so chinko can Bleep off

China COVID19 formula show its effect now

When a Nation forget God!

Good

ManirBK:
China COVID19 formula show its effect now

This goes a long way to prove that China invented Covid 19 for a purpose

helinues:
Good

Says a Yoro Muslim. Anything against America is a good news to them

Malory:
This goes a long way to prove that China invented Covid 19 for a purpose

Exactly...
But God pass them

Malory:
Says a Yoro Muslim. Anything against America is a good news to them

Are you people fixated. FCS this is foreign news now

helinues:


Are you people fixated. FCS this is foreign news now

Foreign news that is very pleasing to your ears you mean. Yoro Muslims are easy to identify

Malory:
This goes a long way to prove that China invented Covid 19 for a purpose

Chai ,so many educated illiterates in the country

Malory:
Foreign news that is very pleasing to your ears you mean. Yoro Muslims are easy to identify

Typical display of Catholic Igbo

Hezzyluv:

Exactly... But God pass them

Chinese people are creative, innovative and intelligent.

helinues:


Chai ,so many educated illiterates in the country

Says a Yoro Muslim. Continue dancing with your kettle for this 'good' news

ManirBK:
Chinese people are creative, innovative and
intelligent.

I know this one will support this because it is against America their tormentor

helinues:


Typical display of Catholic Igbo

The canceller is around so watch what you are saying

They killed Gaddafi & Libya people for free. It willnt be well with them.

Biden has destroyed America

helinues:


Are you people fixated. FCS this is foreign news now

So u didn't also see foreign news where it was reported that Buhari and Nigerian soldiers massacred Nigerians at lekki. Bloody hypocrite

FarahAideed:
Biden has destroyed America

they supported trump to destroy the US note they are blaming the guy trying to undo the damages sounds familiar? Yes the same person supported PDthieves attempts to bankrupt Nigeria and fights every attempt to fix the country.

vedaxcool:


they supported trump to destroy the US note they are blaming the guy trying to undo the damages sounds familiar? Yes the same person supported PDthieves attempts to bankrupt Nigeria and fights every attempt to fix the country.

Under Trump :

Richest Middle class in American history

Over 100 economic records set

Low oil prices

Zero inflation

Best unemployment rate in 50 years ( Pre COVID )

Sounds familiar?

China has used coronavirus to destroy America. The US may never beat China again because while China can do anything to make money, the US and its citizens always opt for the best standard.

Don't believe this

Abeg make Dem help us check, which position Nigeria dey, abi China go like adopt Nigeria

Wow!

China has been advancing at a geometric rate.....

These countries mean am o, people are really making mad money there. Let me start with a million naira here first, at least just 2 empty sachets of the golden morn heritage pack can get me that in the Golden morn heritage promo. You too should give it a try.

Hezzyluv:
That's why one president go chop plenty loan use people as collateral

U.S has more than $26.trillion debt and the Chinese do own a lot of U.S. debt—about $1.1 trillion as of early 2020. Japan and China own about 5.2% and 4.6% of the U.S. debt, respectively. Japanese-owned debt doesn't receive nearly as much negative attention as Chinese-owned debt, ostensibly because Japan is seen as a friendlier nation and the Japanese economy hasn't been growing at a 7% clip year after year. The other countries that hold the most U.S. debt include the U.K., Brazil, and Ireland. So, forget all that debt issues and invest, when it's time to enjoy the debt, enjoy it. Let me help u with the site that can help u see more of U.S heavy debt profile:
https://www.investopedia.com/articles/investing/080615/china-owns-us-debt-how-much.asp

Malory:
Says a Yoro Muslim. Anything against America is a good news to them

Fucking fanatic. You are completely exposed, thank Femi Adesina for exposing the greatest fanaticism the world has ever seen among u. Should u see everything in the prism of religion?
In the eyes of Muslims US is nothing because the way Otthoman empire rose within crusaders, Islam will rise within her conspirators again and take its rightful place!