{"id":3254,"date":"2022-09-24T07:26:03","date_gmt":"2022-09-24T07:26:03","guid":{"rendered":"https:\/\/gsrra.com\/?p=3254"},"modified":"2022-09-24T07:26:04","modified_gmt":"2022-09-24T07:26:04","slug":"asian-century-the-typical-chinese-adult-is-now-richer-than-the-typical-european-adult","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=3254","title":{"rendered":"Asian Century – The typical Chinese adult is now richer than the typical European adult."},"content":{"rendered":"\n

<\/a>Credit Suisse found China’s median wealth outpaced Europe’s in its 2021 Global Wealth Report.<\/strong><\/h2>\n\n\n\n

The average Chinese citizen has a wealth of $26,752, around $60 more than the average European.<\/strong><\/h2>\n\n\n\n

Chinese wealth has surged in the past two decades, with median wealth per adult growing more than eight-fold.<\/strong><\/h2>\n\n\n\n

A major new report from investment banking and wealth management giant Credit Suisse has found that the average Chinese adult is now wealthier than the average European.<\/p>\n\n\n\n

Although North America and Europe together account for 57% of total household wealth globally, China is squeezing out Europe in rankings of wealth per median adult.<\/p>\n\n\n\n

Credit Suisse’s annual\u00a0Global Wealth Report,<\/a>\u00a0which was released this month, estimates the average wealth of households around the world.

It found that the Chinese median wealth per adult, at $26,752, now outstrips Europe, where the average adult has a wealth of $26,690. The European figure takes into account the whole of the continent, which includes many less wealthy nations in its southern and eastern regions.<\/p>\n\n\n\n

The median wealth in China was more than four times greater than in Russia, where the median wealth was $6,379 in 2021.<\/p>\n\n\n\n

China’s average wealth, however, was still less than a third of the wealth of the median American ($93,271) \u2014 and only about 10% of the wealth of the median Belgian ($256,336).<\/p>\n\n\n\n

Global wealth increased by 9.8% in 2021 compared to the year before, reaching a total of $463.6 trillion.<\/p>\n\n\n\n

“All regions contributed to the rise in global wealth, but North America and China dominated, with North America accounting for a little over half the global total and China adding another quarter,” the report said.<\/p>\n\n\n\n

Europe, Latin America, Africa, and India account for only 11.1% of global wealth, which the report puts down to local currency depreciation against the dollar in those regions.<\/p>\n\n\n\n

In Europe for instance, the euro reached parity with the dollar for the first time in 2022, while the pound has plunged to near four-decade lows.<\/a><\/p>\n\n\n\n

China has squeezed out countries in Europe that previously dominated its rankings through its “exceptional rate of wealth growth.”<\/p>\n\n\n\n

China attained the top spot for fastest median wealth growth out of any region, rising more than eight-fold in the past two decades, growing from $3,111 in 2000 to $26,752 in 2021, Credit Suisse said.\u00a0<\/p>\n\n\n\n

Reference link:- https:\/\/www.businessinsider.com\/typical-chinese-adult-now-richer-than-europeans-wealth-report-finds-2022-9<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Suisse found China’s median wealth outpaced Europe’s in its 2021 Global Wealth Report. The average Chinese citizen has a wealth of $26,752, around $60 more than the average European. Chinese wealth has surged in the past two decades, with median wealth per adult growing more than eight-fold. A major new report from investment banking […]<\/p>\n","protected":false},"author":1,"featured_media":3255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-3254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/3254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3254"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/3254\/revisions"}],"predecessor-version":[{"id":3256,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/3254\/revisions\/3256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/3255"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}