A report from the firm McKinsey & Co examined the balance sheets of ten countries that represent more than 60% of world income.
In the last 20 years, world wealth has tripled. China is the country that leads the richest nations and unseated the United States from the first place.
China represents almost a third of the gains of world wealth, in the last two decades (2000-2020).
The distribution of world wealth is as follows:
- China: 120 billion
- United States: 50 billion
- Germany: 14 billion
- France: 14 billion
- UK: 7 billion
- Canada: 7 billion
- Australia: 7 billion
- Japan: 3 billion
- Mexico: 3 billion
- Sweden: 2 billion
Jan Mischke, a partner at McKinsey, said the world is richer than it has ever been seen before.
The world’s net wealth increased from 156 trillion in 2000 to 514 trillion in 2020.
Only China accounts for almost a third of this increase. It went from 7 billion in 2000 to 120 billion.
In the largest economies, the United States and China, more than two-thirds of the wealth is concentrated in the richest 10% of households, and their fortunes continue to grow.
According to McKinsey, 68% of wealth is concentrated in property and land. The rest is divided into infrastructure, machinery, and equipment and then intangibles such as intellectual property and patents.
What happens in Mexico?
The global wealth report of the Credit Suisse bank found that the richest people in Mexico add up to 1% of the population, and they are concentrated in 31% of the country’s total wealth in 2020.
They revealed that in the year 2000, that 1% had 42.8% of the wealth, that is, in the last decade the concentration decreased.
The document “offers an in-depth look at the global economy after two decades of financial turmoil and more than ten years of strong central bank intervention, punctuated by the pandemic.”
For its part, the United Nations (UN), through the United Nations Development Program (UNDP), pointed out that Mexico is the second country in Latin America, in which the rich concentrate the largest amount of national income.
Among the Latin American countries analyzed, Chile, Mexico and Brazil have the highest concentration of income: the highest 10% captured more than 57% of national income and the highest 1%, more than 28%, in 2019. “
For UNDP, Latin America and the Caribbean are caught in the trap of high inequality and low growth.
In five countries in the region, Colombia, Brazil, Mexico, Nicaragua, and Peru, citizens think that the distribution of income is more equal than it really is and that the concentration of wealth is lower at the highest levels.