20 years ago, America was the shining example of economic growth and world leadership.
Now, the global wealth has tripled in that time, and China has gained some ground. In fact, they’ve gained all the ground and are now in the lead.
China’s wealth is growing at an incredible rate, and double what America has been able to pull off over last two decades.
Most of the increase has come from property values skyrocketing in China.
In both countries, majority of the wealth is held by about 10% of the population.
That means that the richest in China are getting richer, faster than the top10% in America.
Should this be concerning?
Yes, but China still has some issues. As we saw with the Evergrande debacle, some of those real-estate prices seem inflated.
Despite the few problems that China has, it doesn’t stop the fact that China is growing a lot faster than the United States.
With enough time, this could become a very serious problem for the United States and its allies. Especially for people living in Taiwan or in disputed territory in the South China Sea.