China has overtaken the US as the nation which has amassed the biggest net worth as global wealth surges, a fresh report by McKinsey & Co suggests.
China’s wealth skyrocketed over the past two decades, the consulting company said according to Bloomberg, explaining that its net worth increased by a whopping 17 times from $7 trillion in 2000 to $120 trillion in 2020.
The nation accounted for about one third of the global net worth increase over that period. In 2000, China joined the World Trade Organization, which sped up its economic ascent.
The US saw its wealth double over the same time period. Washington had to give way to Beijing on the list of top 10 wealthiest nations since its net worth only amounted to $90 trillion in 2020, McKinsey says.
Trending:
- Insanity – Dr. Fauci casually admits the vaccine was a worthless venture
- DTC Settlement Alert! Money Market Instrument (MMI) Issuer Failure (AGAIN) – HSBC BANK USA NA (MMB6). Is HSBC having problems?
- HIV Testing all over the news worldwide
- “You keep saying hard times and even collapse is coming, but it hasn’t happened.” Response: “It hasn’t. To you. Yet.”
- BIG HAPPENINGS INCOMING, EXPECT MAJOR SHAKEUP IN WORLD ECONOMY
- China mobilizes for WAR 3/1/2023
- Huge Protests in Dublin Against Mass Immigration
- ChatGPT: The stock market crash will begin on February 15th, 2023
- Looks like ChatGPT is gonna need to go in the shop for repairs – guy got it to admit everything.
- You May Want To Vomit After You Read About The Unspeakable Evil That Is Happening All Over America Right Now
Views: 8