China and US now account for half the world’s household wealth


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China and the United States now account for half of the world’s household wealth with the United States at 31.5% and China at 18.4%.

According to Visual Capitalist,personal wealth differs slightly from using Gross Domestic Product as a measure, where the US and China make up 24% and 19% of the world economy in nominal terms, respectively.

Just 10 countries account for 75% of total household wealth.

One of the biggest changes in recent years is the rise of wealth in China. 

A decade ago, China’s citizens were estimated to hold just 9% of the world’s wealth. That figure has now more than doubled, while median wealth in the country has skyrocketed from US$3 111 to US$26 752 between 2000 and 2021.

At regional level, North America accounts for 35% of the world’s household wealth, followed by Asia with 33.8%, Europe 22.8% while Africa languishes at 0.9%.

(59 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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