China has overtaken the United States as the world’s richest country. At the same time, the world’s wealth and resources have tripled in the last two decades.
This is according to a report by McKinsey & Co., a global management consultancy. According to the data of this organization, 10 countries of the world have 80 percent income.
“We are richer now than ever before,” said John Miske, a partner at the McKinsey Global Institute in Zurich, Switzerland.
According to various studies, the amount of assets has increased to 514 trillion US dollars in 2020. Twenty years ago, in 2000, the amount of assets was only 156 trillion US dollars. China’s wealth is one-third of all its wealth. Because, in 2000, China’s wealth was 6 trillion US dollars. However, in 2020, China’s total wealth increased to 120 trillion US dollars. China’s economy has grown rapidly since joining the World Trade Organization (WTO).
Source: The Times of India