Ninjastic
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Board Economics
Re: 62% of New Millionaires come from Asia
by
jaysabi
on 09/10/2015, 15:05:16 UTC
Quote from: annoyingorange on June 23, 2015, 04:10:52 PM
The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

Hundreds of millions of people are moving into the middle class in China. The increased economic activity is going to benefit the people who innovate and those who own the means of production the same way it did in America over the last 100 years, but it is happening on a vastly larger scale.