China Richest Country: China becomes the richest country in the world, US slipped to the second position

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China Richest Country: Till now America was at the forefront of wealth, but now China has snatched this tag from America. Yes, China has now become the number one country in the world in terms of wealth. China has overtaken the US to increase its wealth within two decades to the top position.

Let us tell you, China’s Global wealth has tripled in the past two decades. According to the recent report, about a third of the world’s total wealth is with China.

China’s assets were only $7 trillion in the year 2000, a year before joining the WTO, which has now increased to $120 trillion. According to the report, China’s economic growth has steadily accelerated. China accounts for one-third of the world’s wealth in a span of 20 years.

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This thing has been revealed in a report by the research arm of management consultant McKinsey & Company, which tracks the balance sheets of 10 countries responsible for 60% of the world’s income. Indeed, management consultant McKinsey examines the national balance sheets of ten countries representing more than 60% of world income. Its headquarter is in Zurich. The total wealth worldwide has increased from $156 trillion in 2000 to $514 trillion in the year 2020, the report said.

There has also been a tremendous increase in the wealth of America. US wealth has more than doubled in the past 20 years. US wealth in the year 2000 was $90 trillion. The report says that due to not much increase in property prices here, American assets were less than China. This is the reason that America slipped from the number one position and this title has now gone to China.

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