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Tuesday, October 8, 2013

Another indicator of America's decline: Asia-Pacific region poised to become region with most millionaires


As if we needed any more indicators!   While America has been busy creating and fighting wars,  Asia has been overtaking America in almost everything.  

Mike Goodman writing at TelegraphUK:
Asia to overtake US as top spot for millionaires.   
With the world's richest regions vying to be home to the largest number of super-wealthy people, Asia-Pacific looks set to steal the crown back from the US in 2014.
The region held the title in 2011, having done better than the US, which was suffering in the aftermath of the banking crisis.
From 2007 to 2012, Asia-Pacific's millionaire population and wealth increased at double and triple the rates of the rest of the world.
The US rallied last year, and although Asia-Pacific’s super-rich population rose by 9.4 per cent to reach 3.68 million, the top spot went to the US, which rose 11.5 per cent to 3.74 million.
The balance of the scales is likely to tip back again soon, according to the 2013 Asia-Pacific Wealth Report, published by Capgemini and Royal Bank of Canada Wealth Management.
The report predicts that the number of millionaires in the Asia-Pacific region will expand by nearly 10 per cent annually during the next few years. It’s therefore on course to be at the top of the world’s rich list again next year.....

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