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Global wealth has boomed with China overtaking the U.S. for top spot – McKinsey

RIO DE JANEIRO, BRAZIL - Global wealth tripled in the past two decades, with China leading the way after overtaking the United States to take first place globally.

This is one of the findings by the research arm of consultants McKinsey & Co, that examines the national assets of 10 countries that account for over 60% of the world's income.

"We are now wealthier than we have ever been," Jan Mischke, a partner at the McKinsey Global Institute in Zurich, said in an interview.

Net wealth worldwide rose to US$514 trillion in 2020, up from US$156 trillion in . . .

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