Asia is now the wealthiest region in the world.

Discussion in 'Politics' started by Grandluxe, Oct 10, 2012.

  1. October 10, 2012, 4:55 PM HKT

    For the first time, Asia is the wealthiest region in the world, according to a new study by Credit Suisse.

    The bank’s Global Wealth Report 2012, released today, found that the region surpassed Europe in terms of household wealth in the 12-month period ending June.

    While total global household wealth fell 5.2%, Europe took the biggest hit due to its debt crisis and the global economic slowdown, with its wealth dipping 14% to $69.3 trillion. Asia’s wealth proved more resilient, shrinking only 1.9% over the same period to $74.1 trillion.

    Europe’s steep drop allowed the Asia-Pacific region (which includes Asia and Australia) to overtake it in terms of total wealth, an unprecedented development.

    What’s more, the report projects that Asians will get rich at a faster pace than any other region in the next few years.

    Singapore already has the most millionaires per capita in the world, according to a study released by Boston Consulting Group earlier this year.
  2. achilles28


    Offshoring our wealth to Asia is great. Build-up the Communist Chinese and weaken free-market democracies. The Boomers are geniuses.
  3. pspr


    I thought Washington, D.C. was the richest place on earth.
  4. achilles28


    Richest place in the US. Plundering the treasury is a good living !
  5. Next time I see an Australian, I'm going to be sure to tell him he is really Asian, according to Credit Suisse.

    Its really ridiculous though. Asia pacific has 50% of the worlds population. Europe has 10%. Its no different than if you make $50k per year and you have 5 neighbors that make $11k per year and the neighbors saying "Hey, we are richer than you" Well have 5 times as many of you...

    I'll take making $50k and being considered "poorer" than making $11k with my neighbors and being more "wealthy".

    I really wonder about the intelligence of people at credit suisse when they come out with bullshit studies like this.
  6. No wonder Jim Rogers and that facebook guy moved to Singapore.