World wealth to rise 50% in 5 years with China replacing Japan in No. 2 spot

English ALTs in school are being replaced by Chinese ALTs. It started in 2000, maybe before as a good neighbor policy. This article is a serious matter. The Chinese economy will continue to grow and replace Japan's as long as China's currency control continues. The USA just signed an agreement for "fair trade with S. Korea. There is no "fair trade" with China. The USA and Japanese taxpayers continue to send funds to China for development. Does that really make "cents" or does it leave the Japanese economy with a "yen" for economic growth?

When did Japan ever try her best saving the global economy? I think Japan causing alot of global economy problem s and unfair practices. The present hardship of Japan is good for her to growup alittle bit!

China's GDP per person is still third world or maybe "fourth" world!! Why are all the medias so impressed with China's toal GDP?!! Instead of imagining China is replacing Japan as the 2nd economy, they should be looking at how Japan is doing its best to save the global economy!!! If you really want to stop China, we should all stop buying cheap Chinese goods!!!

smart & hard working people get a bigger share of the pie, that sounds quite fair though !

yay, Amen to your comment above, PT24881. I totally agreed!

Beware of the fact : the statistics are denominated in US$ that kept weakening against most currencies, hence artificially support other countries' ranks.

Smart & hard working nations cumulate wealth faster than others, likewise, smart & hard working people get a bigger share of the pie, that sounds quite fair though !

Very good post, weedkila. I agreed. We are heading to a Hyperinflation globally.

This transaction is needed to save US banks exposures to the Euro just in case, however this transaction may have violated the Fed Resv Act 23A as stated in the article. This is one reason of the Wall Street protesters who were demanding more regulation to the Wall Street. The Derivatives were "total deadly cocktails" to all American tax payers. Only riches enjoyed the benefit to be" high" in my humble opinion.

1.A member bank and its subsidiaries may engage in a covered transaction with an affiliate only if-- A.in the case of any affiliate, the aggregate amount of covered transactions of the member bank and its subsidiaries will not exceed 10 per centum of the capital stock and surplus of the member bank; and B.in the case of all affiliates, the aggregate amount of covered transactions of the member bank and its subsidiaries will not exceed 20 per centum of the capital stock and surplus of the member bank.

2.For the purpose of this section, any transaction by a member bank with any person shall be deemed to be a transaction with an affiliate to the extent that the proceeds of the transaction are used for the benefit of, or transferred to, that affiliate.

3.a member bank and its subsidiaries may not purchase a low-quality asset from an affiliate unless the bank or such subsidiary, pursuant to an independent credit evaluation, committed itself to purchase such asset prior to the time such asset was acquired by the affiliate.

4.Any covered transactions and any transactions exempt under subsection (d) between a member bank and an affiliate shall be on terms and conditions that are consistent with safe and sound banking practices.

A report by Swiss bank Credit Suisse predicts that total household wealth worldwide will rise 50% in the next five years to $345 trillion from $231 trillion today.

What they don't tell you is that with all the money printing going on the cost of a loaf of bread will rise to 1000%, or something similarly outrageous.

The report released Wednesday suggests China will replace Japan as the second-wealthiest country in the world by 2016.

But when will China's bubble burst and what will the effect be? With its high inflation and unemployment problem, the talk on the net is that China is in for a hard landing.

The report says the U.S. will remain the world’s wealthiest nation

Interesting. They didn't mention the massive quantitive easing going on by the Fed or the $600 trillion derivative death star. Yesterday bloomberg reported that $75 TRILLION worth of derivatives risk was transferred to the US taxpayer. THe world's total GDP is only something like $62 trillion. It's all funny money but guess who is being driven into the dirt.

http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheDailyBail+%28The+Daily+Bail%29

China can not afford Japan and the USA go down the economic drain Who would buy all there stuff at Walmart?? Kmart? Sears? JC Penny's? Macy's ?? Etc...

just-a-guy, all your base are belong to us. Sorry, couldn't resist.

Does this mean more money i can borrow,,, mmm

some14someOct. 20, 2011 - 06:53AM JST Hope protesters on Wall Street are not reading this news :) undesirable disclousre at this moment.

How d'ya reckon?

The report says the U.S. will remain the world’s wealthiest nation ................Please remember the debts of US owned will be 104% of her present GDP in 2012, everything they owned now were not 'belongs' to them !NEVER!

I am worth almost 75 million Yen but it means nothing. I owe about 30 Million. So these stats presented here are probably not including debt for homes and mortgages etc.

Good words about my American side. Some of those cities I would not be caught dead in at night.

Sorry Manji, you sound very ignorant about Mexico, and as for toilets?? Most of Americas big cities?? Bunch of drugged out, homeless etc..so while you can try to say ignorant things about Mexico, just go to any big city in the USA and try to walk around after dark?? But I digress, China has way too many people, only the elite over in Beijing and Shanghai now are making lots of $$$, thanks to Americans etc..going to Walmart, not caring that everything is Made In China, and as one of the racist ignorant guys here wants to make out the USA as a perfect country?? Yeah right! Not too sure if that 1% controls Americas $$$ and the other 99% just are working to survive, but I do guess there is some truth to it, but if you work in the US Senate, Congress, or any of the US armed forces, no recession there, heck bullet makers etc..can not even make enough in the USA need to import them from Canada, Israel etc..so to answer one more question, to Pukey?? No I do not hate China, I do not trust the communist regime and I feel very sorry for the average worker who knows it is ILLEGAL to even try and make a union or ask for higher wages while just a few Chinese officials are living high, high off the hog, which sooner or later, this will all blow up in their faces, once enough Chinese understand how badly they are being treated by their government.

Meaningless

NeverSubmit, I believe you are talking about a distribution of wealth. Each country is responsible for that and I have to admit that US is not good at it.

This data is simply telling the fact about each country's wealth. If you had known this prior to the ODA money to China, you probably did not send it.

Elbuda: Mexico's basically the toilet we Americans sit on. Have you ever been there? It's filthy and third world. Maybe you should direct your energy to cleaning up Mexico.

Average means nothing in these wealth statistics.

One guy has a million dollars, his neighbor has nothing.

The average wealth of the two is $500,000.

Meaningless.

elbuda Mexicano:

Where's your great country? Actually, what you've said may be true, but I can't help wonder how much bitterness, jealously and hate went through your head when you wrote this and every other post.

Simple math, wow, China will have the same so called wealth as the USA, cool, but they still have almost 2 BILLION people, so divide that pie and see what the GDP for the average Chinese turns out?? And we know only even now only a handful of Chinese are really enjoying this wealth, so simple math, soon they will have many many PROBLEMS!

Hope protesters on Wall Street are not reading this news :) undesirable disclousre at this moment.

No sweat, some14some. I am glad for Japan and Japanese people.

We Americans (R) are questioning about a defense spending over Japan. You may want to start thinking about a military drafting over Japanese men/women and change the article 9 of Japanese Constitution. We no longer want to be a sucker. You can do it yourself.

I must tell my poor African friends, I'm sure they'll be delighted to know that, but I can't really fool them because they understand 90% of the wealth is owned by less than 10%.

While they say 'on average' most statistics like this actually mean median not mean (ha, aren't I clever), so wealth disbursement doesn't skew the net worth that terribly much. If you took all the money in the world and divided it by the population the net worth figure would be much higher. The 70k number is actually pretty believable.

Hope protesters on Wall Street are not reading this news :) undesirable disclousre at this moment.