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That isn’t true - the US has 39% of all millionaires, and China has 10%. [0] Clearly a lead that can be overcome, but now with China’s turn back to proper comm
by FredPret 4y ago
That isn’t true - the US has 39% of all millionaires, and China has 10%. [0]
Clearly a lead that can be overcome, but now with China’s turn back to proper communism, they will probably never get there.
[0] Page 27: https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-report-2022-en.pdf https://www.credit-suisse.com/media/assets/corporate/docs/ab...
- ljf 4y agoVery interesting figures. Crazy that the US increased by 10% and China by 20% in a year (and during covid) - but there is still a large gap between the figures. In a decade they may converge, but not yet.
- tomcam 4y agoChina is not, of course, turning back to proper communism. It is a wildly corrupt dictatorship, and will be for the foreseeable future. It was an oligarchy for many generations (traditionally, their central committee was allowed to preserve opposing opinions among factions, a practice Xi extinguished), but Xi has definitely removed the vast majority of his competent opponents.