Know how China became the richest country in the world by leaving America behind
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China Richest Nation: China has now become the richest country in the world, leaving America behind. China has snatched the title of being the richest country from the US as global wealth has tripled in the past two decades. This information has been given by the research arm of McKinsey & Co. This report has been prepared after examining the national balance sheets of 10 countries, which have 60 percent of the world’s wealth.
China’s wealth increased by $ 113 trillion
According to the study conducted by McKinsey & Co, the worldwide net wealth has increased from $156 trillion in 2020 to $514 trillion in 2020. China ranks first in this list around the world. Due to the tremendous economic growth in China and the strength of its economy, China’s wealth has increased to $ 120 trillion in 2020, which was only $ 7 trillion in 2000. That is, in just 20 years, China’s wealth has increased by $ 113 trillion. With the help of this, China has been successful in leaving America behind and making its name as the richest country in the world. During the same period, America’s total wealth more than doubled to $90 trillion. The growth rate in America’s wealth was very low compared to China, so it lagged behind China.
10 percent of the rich have the most wealth
According to the McKinsey & Company report presented by Bloomberg, it is worth noting that in both the US and China, more than two-thirds of the wealth is with the richest 10 percent of the families, and their share is increasing day by day.
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