March25, 2018 (C) Ravinder Singh email@example.com
China lost $3.8 trillion out of $29 trillion wealth 2017 as millionaires left China over last 10 years which is significant amount – figures for India could be $1 trillion or more which is quite substantial for India’s $5 trillion Wealth in 2017 [World $280trillion]. [Combining Global Wealth Report and ET Story clipped under].
Global Wealth Report 2017 – India is 90 years behind USA in Wealthand will be 86 year behind USA in 2022.
While China had a policy to ATTRACT FOREIGN EXPERTS and COMPANIES & Non Resident Chinese to settle in China with Skills & Capital.
India has WEAK POLICY and over 90% Non-Resident Indians failed to establish in India and returned.
China’s Wealth Migration was two way for 3-4 decades – India has primarily one way policy. China gained immensely net basis – India largely lost.
In just 3 years number of $millionaires increased from 182,000 in 2014 to 245,000 in 2017 [834m adults] or 35% rise – Global number36.050m, USA 15.4m [240.7m adults].
USA has A $Millionaire Per 15.6 Adults – India has a $millionaire per 3407 adults.
India accounts for 7% of World’s Wealth Migrants for 0.7% $millionaire.
Tragedy is India is not LEARNING – We don’t have Qualified Ministers & Professionals in Government & Industry, Do Not Support R&D and Protect Intellectual Property. Most Wealth Creators Are Exploited. NRI & Foreign Experts Not Honestly Supported to Establish in India.
Economy is Designed to be Corrupt or Inefficient and Unsustainable – Emit 7% GHG for 1.9% Wealth.
However, USD 76,754 is required to be a member of the top 10% of global wealth holders, and USD 770,368 to belong to the top 1%. While the bottom half of adults collectively own less than 1% of total wealth, the richest decile (top 10% of adults) owns 88% of global assets, and the top percentile alone accounts for half of total household wealth. – The share of the top 1% of wealth holders followed a similar pattern, declining from 46% in 2000 to 43% in 2008, then rising back to 50% in mid-2017.
Total wealth in India increased fourfold between 2000 and 2017, reaching USD 5 trillion in 2017. Despite this remarkable increase and having four times the population of the United States, total wealth in India is comparable to the level for the United States 90 years ago. We expect it to reachUSD 6 trillion in real terms by 2022, which is comparable with the level in the United States in 1936.
Between 2008 and mid-2014, mean wealth per adult grew by 26%; but the same period saw a 54% rise in the number of millionaires, a 106% increase in the number with wealth above USD 100 million, and 138% rise in the number of billionaires.
Global economy is projected to add another 719 billionaires in the next five years meaning that their number will rise to nearly 3,000. Of these, 230 will be from North America and 205 from China. Of the additional 235 billionaires expected from Europe, 33 are likely to be from Russia. These four regions to contribute 703 billionaires.
The United States scores high on all three criteria, and has by far the greatest number of millionaires: 15.4 million, or 43% of the world total.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS