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Wealthy Chinese outnumber wealthy Americans for the first time

Summary

How China’s Rich and Famous Disappear Description video: A film star, the head of Interpol and one of China’s wealthiest investors have gone missing after apparently falling afoul of the Communist Party. The message to Chinese citizens is clear: No […]

How China’s Rich and Famous Disappear

Description video:
A film star, the head of Interpol and one of China’s wealthiest investors have gone missing after apparently falling afoul of the Communist Party. The message to Chinese citizens is clear: No matter who you are, the party can get you. Photo composite: Crystal Tai\n\nDon’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy\n\nMore from the Wall Street Journal: \nVisit WSJ.com: http://www.wsj.com\nVisit the WSJ Video Center: https://wsj.com/video\n\nOn Facebook: https://www.facebook.com/pg/wsj/videos/\nOn Twitter: https://twitter.com/WSJ\nOn Snapchat: https://on.wsj.com/2ratjSM

Wealthy Chinese outnumber wealthy Americans for the first time

For the first time, wealthy Chinese have outnumbered wealthy Americans, according to a study by Credit Suisse, as both countries continue to "stamp" millionaires.

A Swiss bank’s annual poll released on Monday showed that China has overtaken the United States this year as the country with the largest population of the world’s richest 10%..

«Despite trade tensions between the United States and China over the past 12 months, both countries have made significant gains in wealth creation, contributing $ 3.8 trillion and $ 1.9 trillion, respectively, ” said Nannette Hechler-Faidherbe, head of global Economics and Research Credit Suisse.

The study estimates that the number of global millionaires increased by 1.1 million to 46.8 million, with a combined net worth of $ 158.3 trillion, 44% of the global total..

More than half – 675,000 new millionaires – are from the United States. In terms of the number of millionaires, the United States is far ahead of China. IN US about 18.6 million people own a fortune from 1 million dollars, and in China – 4.4 million.

Wealthy Chinese outnumber wealthy Americans for the first time

The decline in the average wealth in Australia – mainly due to exchange rates – has resulted in 124,000 fewer millionaires there, while the UK lost 27,000 and Turkey 24,000..

Global wealth, which has grown 2.6% over the past year, is forecast to grow 27% over the next five years to reach $ 459 trillion by 2024. The number of millionaires will also increase over this period to nearly 63 million..

90% of the world’s population accounts for 18% of the world’s wealth, up from 11% in 2000.

«It is too early to say that material inequality is now in a downward phase, the prevailing evidence suggests that 2016 could peak in the near future.», – said in a statement.