(Image source from: planetware.com)
Asian nation China has been emerging as a superpower in all the fields from the past few years. A recent report said that China overtook USA and it emerged as the wealthiest country of the globe. The country's wealth tripled in the last 20 years. The net worth of USA got doubled over a period and it reached 90 trillion USD. Ten countries of the globe contribute to more than 60 percent of the world's total income. China's net worth was 156 trillion USD in the year 2000 and it reached 514 trillion USD by 2020 which is more than triple. China contributed to more than one-third of its increase. The wealth of China was 7 trillion USD in 2000 before it joined the World Trade Organization and it now stands at 120 trillion USD.
China, USA, Germany, France, UK, Canada, Australia, Japan, Mexico and Sweden are the richest countries of the globe. 68 percent of the net worth of the world is stored in real estate firms. The rest of the net worth is shared between machinery, infrastructure and equipment. The property prices have seen a sharp rise over the past few years which made the net worth witness a huge rise. The home ownership turned out to be a distant dream for several people who are average when it comes to their earnings. China has been diving the global wealth into more productive investments because of which the GDP has been steady. For now, China emerged as a major leader in all the fields which made the nation the richest country of the globe.
By Siva Kumar