The shift in global wealth has seen an emerging wealthy middle class in China, increasing wealth in developing countries and dependence of the West on Asia for manufacturing.
China’s increasing investment in its own infrastructure, linked significantly to its drive towards urbanization, and its resulting attractiveness to international business, has seen the country’s gross domestic product (GDP) more than triple between 2000 and 2021.
China’s investment is not only inward. It has also sought to establish and expand trading through Asia and other developing countries, affecting them as well.
What is the global wealth?
The world’s total net wealth has hit $431 trillion, nearly half a quadrillion dollars, and over a quarter of it is controlled by millionaires.
In some instances the impact of this shift will be shaped by local factors, such as demographic changes. In other instances this shift will reflect shared characteristics, as demonstrated by the greater popularity of overseas investing among younger high-net-worth individuals (HNWIs) brought up in an era of globalisation. Whatever the drivers, the landscape of wealth is changing—from local to global, and from one focused on returns to one founded on personal values.
Despite rising economic concerns and a tradition of investor home bias in large parts of the world, the new landscape of wealth appears less interested in borders. According to a survey commissioned by RBC Wealth Management and conducted by The Economist Intelligence Unit (EIU), younger HNWIs are substantially more enthusiastic about foreign investing. The U.S. is a particularly high-profile example of a country where a long-standing preference for investments in local markets appears set to be transformed.
What is the total wealth of the world 2021?
Aggregate global wealth rose by USD 28.7 trillion to reach USD 418.3 trillion at the end of the year. In terms of current US dollars, total wealth grew by 7.4% and wealth per adult was up 6.0%.
The vaccine rollout around the globe has been rife with inequality. According to research by the Agency France-Presse, high-income nations — such as the United States and members of the European Union — have been getting much more than their fair share of vaccine doses. Despite making up only 16 percent of the global population, people in high-income nations have gotten 47 percent of all vaccine doses. That is in contrast to people in lower-income nations, who have gotten just 0.2 percent of all vaccine doses, despite making up 9 percent of the world’s population.
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