October 22, 2019

Andrew Campbell 

The number of rich people in China is larger than that in the U.S. for the first time. According to the report from Credit Suisse, 100 million Chinese are ranked as top 10% rich people globally in comparison with 99 million people in the U.S. Nevertheless, there are more millionaires in the U.S. than in China, which accounts for 40% of the globe. 

It seemed that the China–United States trade war did not reduce the fortune of the two countries. Credit Suisse pointed that the wealth condition between the two countries are “fairly positive.” On the other hand, China became the main wealth growing country in the world, and even surpassed Europe. 

In accordance with the Global Wealth Report form Credit Suisse, the top 1% people own almost half of the global properties. The report also indicated that the wealth percentage of the bottom 90% people rose to 18%, while it was 11% in 2000. Although the phenomenon could not suggest the wealth inequality was in the descending condition, the statistics might represent that the biggest difference was in 2016.

Photo:Webshot.