Chinese millionaires have added one million more people to their ranks, making the overall region richer, the Boston Consulting Group reported on Monday. According to their announcement, Chinese millionaires increased from 3 million to 4 million in 2014, which is expected to eventually help the region of Eastern Asia edge out North America in becoming the wealthiest region in the world.
In 2014 the total amount of millionaires around the world grew from 15 million from the previous year to 17 million, with half of those added having been produced by China.
North America still occupies the first spot in total wealth holdings by region, having 51 trillion USD. Eastern Asia is second, having surpassed Europe with 47 trillion in holdings. It may also surpass North America in year 2016 as well, if predictions for next year come true. Eastern Asia is forecast to arrive at 57 trillion USD in wealth holdings whereas North America is forecast to arrive at 56 trillion USD in wealth holdings.
In terms of rank by country, America ranks first in terms of most millionaires, having 700. Japan comes in third place on the index with 1 million of them.
Source: view.inews.qq.com
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Keywords: Asian economies Chinese millionaires China’s wealth
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"America ranks first in terms of most millionaires, having 700. Japan comes in third place on the index with 1 million of them." Millionaires play golf, so I guess lowest score wins, huh? A perfect end to such a manufactured bragpiece. China is still focusing more on appearances than on substance. How does millionaire count matter when most of your citizens live in squalor? Gross Domestic Income Imbalance? fang pi - bullshit. World's Richest Region in horse manure stories.
Jun 24, 2015 18:45 Report Abuse
"East Asia Predicted to Become World’s Richest Region....Chinese millionaires have added one million more people to their ranks...." Pitiful, cheap, poverty consciousness. However you define richness, if you still care about how much you have you aren't rich, as simple as that.
Jun 24, 2015 12:47 Report Abuse
This is a source of pride for Chinese but what about the rest of the country? People toil in the hot sun to grow crops to sell for subsistence wages, school children crowded 60 to a room with nothing but an old black board and tattered textbooks, people forgoing university education in search of work, rampant corruption and petty theft, and industries operating without regulation greedily polluting and exploiting the environment. The bigger picture is nothing to be proud of China. The true socio-economic state is like an iceberg: the real story is hidden below the glittering surface.
Jun 24, 2015 11:30 Report Abuse
As far as prc is concerned, what is the source of raw data behind these projections, CCP? Who made these projections, local staff of BCG's Shanghai office?
Jun 23, 2015 23:58 Report Abuse
money means nothing if you are not free. Said by no one ever in China.
Jun 23, 2015 22:28 Report Abuse
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