China has become the richest country in the world. According to a report released by consultant McKinsey & Co., China's wealth has tripled in the last 20 years. The data comes a year after China became a member of the World Trade Organization (WTO). China became a member of the WTO on December 11, 2001. Experts say China's economy has grown rapidly since becoming a member of the WTO. According to statistics, China's total wealth increased from 7 trillion in 2000 to 120 trillion in 2020. China accounts for one-third of the world's total wealth, according to the report. The United States is the world's largest economy. In the last 20 years, the wealth of the United States has decreased compared to that of China, and in the meantime, the total wealth of the United States has increased by 90 trillion. China, the world's largest country in terms of population, is the fourth-largest country in terms of area. McKinsey & Company has compiled a report based on national data from 10 countries. These 10 countries account for 60 percent of the world's income. The report covers China, the United States, France, Japan, Australia, Sweden, Germany, Canada, Mexico and the United Kingdom. China has become the richest country in the world. According to a report released by consultant McKinsey & Co., China's wealth has tripled in the last 20 years. The data comes a year before China became a member of the World Trade Organization (WTO). China became a member of the WTO on December 11, 2001. Experts say China's economy has grown rapidly since becoming a member of the WTO. According to statistics, China's total wealth increased from 7 trillion in 2000 to 120 trillion in 2020. China accounts for one-third of the world's total wealth, according to the report. The United States is the world's largest economy. In the last 20 years, the wealth of the United States has decreased compared to that of China, and in the meantime, the total wealth of the United States has increased by 90 trillion. China, the world's largest country in terms of population, is the fourth-largest country in terms of area.
McKinsey & Co. has compiled a report based on national data from 10 countries. These 10 countries account for 60 percent of the world's income. The report covers China, the United States, France, Japan, Australia, Sweden, Germany, Canada, Mexico and the United Kingdom.
China and the United States are the world's largest economies. More than two-thirds of the wealth of the two countries is held by the richest 10 percent, and their share continues to grow, according to a Bloomberg quote from McKinsey & Company.
According to the news, 68 percent of the world's assets have been invested in real estate. The remaining assets are in infrastructure, machinery, equipment, intellectual property and patents.
The report was prepared after examining the balance sheets of 10 countries with 60 percent of the world's income. China accounts for one-third, or 33 percent, of the world's wealth, which has grown over a 20-year period. In that sense, China's total wealth has increased 16-fold in the same period.
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