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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / China Overtakes US To Become World's Richest Nation As Global Wealth Surges (2149 Views)
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China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ManirBK: 8:47pm On Nov 17, 2021 |
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 ADVERTISEMENT 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. SHOW FULL STORY 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 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ManirBK: 8:47pm On Nov 17, 2021 |
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. 4 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 8:48pm On Nov 17, 2021 |
America is still the greatest nation on earth so chinko can Bleep off 3 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Righteousness2(m): 8:52pm On Nov 17, 2021 |
Babylon the Great has long Been Displaced in the Spiritual realm. What is being witnessed now is the Physical aspect of the Fall. The next will be on technology. She will be Displaced. What is Happening now is very little to what is Coming.. Nomerica as a Nation is Gone! I Believe a few states that have Vehemently refused to follow the Evil and Wickedness will be spared. 4 Likes 1 Share |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Hezzyluv: 8:53pm On Nov 17, 2021 |
That's why one president go chop plenty loan use people as collateral 4 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by PrinceOfLagos: 8:54pm On Nov 17, 2021 |
Buhari will run to them for another loan now 3 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ManirBK: 8:56pm On Nov 17, 2021 |
Malory:China COVID19 formula show its effect now |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Kollyman: 8:56pm On Nov 17, 2021 |
When a Nation forget God! 2 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by helinues: 8:57pm On Nov 17, 2021 |
Good |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 8:59pm On Nov 17, 2021 |
ManirBK:This goes a long way to prove that China invented Covid 19 for a purpose |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 9:00pm On Nov 17, 2021 |
helinues:Says a Yoro Muslim. Anything against America is a good news to them 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Hezzyluv: 9:01pm On Nov 17, 2021 |
Malory: Exactly... But God pass them |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by helinues: 9:01pm On Nov 17, 2021 |
Malory: Are you people fixated. FCS this is foreign news now 3 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 9:02pm On Nov 17, 2021 |
helinues:Foreign news that is very pleasing to your ears you mean. Yoro Muslims are easy to identify 2 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by helinues: 9:03pm On Nov 17, 2021 |
Malory: Chai ,so many educated illiterates in the country 4 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by helinues: 9:04pm On Nov 17, 2021 |
Malory: Typical display of Catholic Igbo 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ManirBK: 9:04pm On Nov 17, 2021 |
Hezzyluv:Chinese people are creative, innovative and intelligent. 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 9:04pm On Nov 17, 2021 |
helinues:Says a Yoro Muslim. Continue dancing with your kettle for this 'good' news 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 9:05pm On Nov 17, 2021 |
ManirBK:I know this one will support this because it is against America their tormentor 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Malory: 9:06pm On Nov 17, 2021 |
helinues:The canceller is around so watch what you are saying |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by dedonfranco(m): 9:07pm On Nov 17, 2021 |
They killed Gaddafi & Libya people for free. It willnt be well with them. 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by FarahAideed: 9:33pm On Nov 17, 2021 |
Biden has destroyed America 3 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Xhuntra: 9:37pm On Nov 17, 2021 |
helinues: So u didn't also see foreign news where it was reported that Buhari and Nigerian soldiers massacred Nigerians at lekki. Bloody hypocrite |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by vedaxcool(m): 9:41pm On Nov 17, 2021 |
FarahAideed: 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. |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by FarahAideed: 10:06pm On Nov 17, 2021 |
vedaxcool: 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? 1 Like |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by SmartPolician: 10:10pm On Nov 17, 2021 |
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. 2 Likes |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by gabolak(m): 10:11pm On Nov 17, 2021 |
Don't believe this |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Gadafii: 10:27pm On Nov 17, 2021 |
Abeg make Dem help us check, which position Nigeria dey, abi China go like adopt Nigeria |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Onyenna(m): 10:32pm On Nov 17, 2021 |
Wow! China has been advancing at a geometric rate..... |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by Breastfeed: 10:56pm On Nov 17, 2021 |
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.
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Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ArewaNorth: 1:07am On Nov 18, 2021 |
Hezzyluv: 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 |
Re: China Overtakes US To Become World's Richest Nation As Global Wealth Surges by ArewaNorth: 1:11am On Nov 18, 2021 |
Malory: 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! |
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