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China overtakes US as world's richest; experts sound caution

Shortpedia

Content Team
Image Credit: shortpedia

China has overtaken the United States as the world's richest country, a recent report by the research arm of consultants McKinsey & Co. revealed. The study examined the balance sheets of 10 countries representing over 60% of world income. It said that global wealth has tripled in the last two decades and China accounted for almost one-third of this global increase.