China has seen its global wealth skyrocket over the past two decades and has now overtaken the U.S. as the wealthiest nation worldwide, according to a new economic analysis on the “national balance sheets” of the world’s richest nations. What are the details?
Between 2000 and 2020, China’s net worth soared from $7 trillion to $120 trillion, accounting for an eye-popping one-third of the global increase, global management consulting firm McKinsey & Company reported this month.
Meanwhile, the U.S. saw its net worth only double over the same period to total $90 trillion in 2020.The revelation came as part of […]
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