Friday, February 26, 2021
Home Uncategorized Chinese & Indian households getting richer during Covid pandemic while wealth in...

Chinese & Indian households getting richer during Covid pandemic while wealth in US declines – Credit Suisse

Also on rt.com

© Pixabay.com
India sees HIGHEST EVER inflow of investments despite COVID-19 pandemic

Global wealth creation is expected to rebound next year as the economy recovers, according to Credit Suisse. The “main outlier” is North America, where the economy is hobbled by the “continued weakness due to the high prevalence of Covid-19” in the United States. The region’s wealth per adult is forecast to drop five percent this year, and remain near that level in 2021.

Credit Suisse said that global wealth per adult slipped to an average $76,984 from $77,309 at the start of the year. Millennials, who also suffered repercussions from the financial crisis, and the next post-Covid generation will have to deal with reduced economic activity and globalization, as well as discouraged travel.

READ MORE: We’re moving from the American century to a Chinese century – Max Keiser

“There is the promise of many more surprises to come,” said Nannette Hechler-Fayd’herbe, Credit Suisse’s chief investment officer for international wealth management and global head of the economics and research unit. “Among the major economies, China is likely to be the clear winner.”

For more stories on economy & finance visit RT’s business section 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Onyinye Ayozie – Living Sacrifice

  Onyinye Ayozie - Living Sacrifice MP3 DOWNLOAD Onyinye Ayozie - Living Sacrifice: Onyinye Ayozie drop a brand new hit single titled Living Sacrifice Download Below https://cldup.com/cnkTc_gXBW.mp3 DOWNLOAD MP3: Onyinye...

Loveth Okpaga – Oluebube Gi

Fast-rising gospel music artist and songwriter, Loveth Okpaga releases new single titled “Oluebube Gi“. This song expresses the glorious works of God towards mankind, how unexplainable His...

Phreddy – HOLYGORISE

  PHREDDY ON HOLYGORISE MAKE SOME NOISE!!! It’s a Holy Ghost Party as Phreddy comes through with a banging new track setting the pace for a...

The birth of Unicoin ( UCN ) A cryptocurrency created with Africa and the whole world in mind.

  The birth of Unicoin ( UCN ) A New cryptocurrency created with Africa and the whole world in mind. Warning: This is unlike any other...

Recent Comments