South Asia and Beyond

China Gets Past U.S. As Wealthiest Nation

In a report, McKinsey & Co says net worth worldwide rose to $514 trillion last year from $156 trillion in 2000. China accounted for almost one third of the increase, its wealth skyrocketing from $7 trillion to $120 trillion. U.S. growth doubled in the same period to $90 trillion. The report says 68 per cent of global net worth is held in real estate with the balance in infra, machinery and equipment.