Report: China is now the world's richest country

Yahoo ^ | Sat, November 20, 2021, 12:01 AM·2 min read | Carl Samson

[cba123]

China has beat the U.S. to become the world’s richest nation, according to a new report.

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Key findings: Global net worth soared from $156 million in 2000 to $514 trillion in 2020, making the world wealthier than it was at any point in history. China accounted for nearly a third of the increase, the report from management consultancy firm McKinsey & Company stated.

McKinsey analyzed the national balance sheets of 10 countries that represented 60% of the world’s income. Of these nations, China accounted for 50% of the growth in net worth, followed by the U.S. (22%) and Japan (11%).

The report found that China’s wealth rose from $7 trillion in 2000 to $120 trillion in 2020. The U.S., on the other hand, saw its wealth more than double to $90 trillion in the same period.

[cba123]

We're ... number two.

And still being sold out!

[cba123]

https://news.yahoo.com/report-china-now-worlds-richest-170102566.html

[AZJeep]

All thanks to technology transfer from the USA (and other Western countries to be precise)!

[VTenigma]

We did it to ourselves. When you are well fed, comfortable, and lazy your enemies can sneak up on you.

[Caipirabob]

Sure, a country where at least half the population still receives themselves in the street is wealthier than the USA. If that brings them some small consolation let them have it, but they will always be trying to avoid stepping in their own “truth”.

[Leaning Right]

China is now the worlds richest country? How could that possibly happen? Oh, wait...

Thanks for nothing, “free traders” (should be free traitors).

[alexander_busek]

Key findings: Global net worth soared from $156 million in 2000 to $514 trillion in 2020, making the world wealthier than it was at any point in history.

FAIL!

Regards,

[BBQToadRibs2]

Tell 95% of China that. They might have a different opinion.

[FatherofFive]

That is what happens when you abandon manufacturing. Manufacturing creates jobs and wealth. And now they want us to abandon Energy, which drives everything.

Wake up

[canuck_conservative]

Global net worth soared from $156 million in 2000 to $514 trillion in 2020

World net worth increased 3.3 million times in 20 years??

of course not, should be 156 trillion, more likely

More amateurish typos / proofreading ... that's why we don't trust Big Media like Yahoo

[canuck_conservative]

Global net worth soared from $156 million in 2000 to $514 trillion in 2020

World net worth increased 3.3 million times in 20 years??

of course not, should be 156 trillion, more likely

More amateurish typos / proofreading ... that's why we don't trust Big Media like Yahoo

[BfloGuy]

How surprising that a country with 4 times the population would have a larger economy!

[canuck_conservative]

Sure, a country where at least half the population still receives themselves in the street is wealthier than the USA

Don't believe this nonsense, China is a fake "Potemkin village"

Their stock market evaluations are overblown, real estate is overvalued, a lot of the big factors that go into this "total wealth" calculation are deliberately faked & hyped-up by the ChiComs to make their country look better than it is ... they want people to think they're the most powerful country

When their debt bomb explodes, they'll be brought back down to Earth

[MtnClimber]

Thanks creepy Joe.

[farmguy]

brandon has a fix for that.

he’ll fire up the printing presses!

[butlerweave]

but The Super Rich Chinese Communist Party is not a Country

[the_individual2014]

Part of me thinks this is overblown, but at the same time it could be true, and you are correct we did do it to ourselves. Kinda hard to stay no.1 when your nation unlike China has no loyalty to each other and to quote one FReeper “its a dog eat dog world and everyone is out for themselves”.

[BiglyCommentary]

The numbers from China are as PHONY as a three dollar bill. Any one who takes this seriously is an ignorant fool.

[BiglyCommentary]

Spot on. LAUGHABLE PROPAGANDA.

[databoss]

Thank you Bill Clintoon