Credit Suisse: China is expected to become the second richest country in the world in 2017

Credit Suisse: China is expected to become the second richest country in the world in 2017. Xinhuanet, Beijing, October 10 (Huang Danlei, Li Wenchuan) Credit Suisse Research Institute issued on the 10th...

The report confirms that the Asia-Pacific region, which accounts for two-thirds of the world's emerging middle-class consumers, continues to be the main growth driver of the global economy and global wealth. The Asia-Pacific region has replaced Europe as the richest region in the world in mid-2012. Credit Suisse predicts that household wealth in the Asia-Pacific region will grow by 55% in the next five years to US$115 trillion in 2017, increasing the Asia-Pacific region's share of global wealth from 29% in 2000 to 35%. China has become the most important source of new wealth in the Asia-Pacific region over the past decade. Mainland household wealth has grown at an average annual rate of 13% since 2000, more than double the global average wealth growth rate of 5.8%.

> Credit Suisse Private Bank Asia Pacific Head Frankfurt Sugao said: Our "Global Wealth Report" published for the third consecutive year has once again confirmed that the global economy is undergoing unprecedented changes and the world economic order is undergoing a sharp reorganization. The report confirms that the Asia-Pacific region, home to two-thirds of the world's emerging middle-class consumers, continues to be the main growth driver of the global economy and global wealth.