This Country Becomes Richest Nation In The World

“We are now wealthier than we have ever been,” a new study by McKinsey & Co has examined the new net wealth of the world. The report reveals that the world’s wealth has skyrocketed between the years 2000 to 2020 taking the figure to $514 trillion. This is three times the earlier estimation which was $156 trillion. With this, the wealth of ten countries has increased too including China which is now the richest nation in the world.

China And Other 9 Richest Nations In The World

China's wealth accounts for one-third percentage of the total world wealth that is $120 trillion. In the year 2000, China’s total wealth was only $7 trillion.

U.S is the second richest nation with $90 trillion followed by Germany, France, the U.K., Canada, Australia, Japan, Mexico, and Sweden.

The study says most of the income comes from real estate i.e. 68 % including land, houses, and other buildings on the Earth. The rest of the amount comes from Inventories, Infrastructure, Intangibles assets, and Machinery & Equipment.

Also Read: Who Are The 5 Indian-Origin Women In 2021 Forbes List Of 'America’s Richest Self Made Women'?

Side Effects Of Sudden Rise In Wealth

If these countries could find a way to improve global GDP then we can prevent the crisis, suggest report.